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Bangkok Post

Business

Gulf expands in US with gas purchase

Gulf United States Gulf Energy Development SET Illinois JPower Yupapin Wangviwat Thailand PJM

Jackson Generation's gas-fired power plant in Illinois in the US.

SET-listed Gulf Energy Development, Thailand's biggest private power producer by market value, has purchased 49% of Jackson Generation, a gas-fired power plant in Illinois, for US$400 million (15 billion baht) as it embarks on its US expansion.

Yupapin Wangviwat, chief financial officer at Gulf, said the investment, made through its subsidiary Gulf Energy USA, is the company's first move into the US energy market.

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