SET-listed Gulf Energy Development (Gulf) on Friday said it has invested US$409 million in a 49% stake in Jackson Generation, a 1,200-megawatt natural gas-fired power project in Illinois, its first expansion into the United States.
Gulf is acquiring the stakes from its long-term Japanese partner, J-Power Group, and joins other Thai firms in investing in US energy, including miner Banpu Pcl, owner of Denver-based BKV, which in May bought natural gas properties from Exxon Mobil for $750 million.
