Mitihoon – Electricity Generating Public Company Limited or EGCO Group has decided to sell its entire stake in Boco Rock Wind Farm Pty Ltd (BRWF), the parent company that holds a 113 MW wind farm located in the state of New South Wales, Australia, to Tilt Renewables, one of Australia’s renewable energy investors and developers. This divestment is aligned with EGCO Group’s strategy emphasizing portfolio management for asset recycling to create long-term continuous growth. The proceeds from the transaction will further strengthen the company’s cash flow and be used for new investment opportunities with superior growth potential in the future.
Dr. Jiraporn Sirikum, President of EGCO Group, said, “Millennium Energy B.V. (Millennium), a wholly owned subsidiary of EGCO Group, has entered into a sale and purchase agreement with Tilt Renewables on 31 January 2025 to dispose of 100% ownership interest in the BRWF. The transaction is expected to close in the 1st quarter of 2025 subject to obtaining relevant regulatory approvals. Upon completion, EGCO Group will be fully exited from the BRWF.
“The decision to sell our shareholding in the BRWF in Australia aligns with and is part of EGCO Group’s “Triple P” strategy to emphasize portfolio management for asset recycling to create long-term continuous growth. The company continues to focus on expanding power generation capacity both domestically and internationally, including renewable energy and gas-fired projects, in support of the energy transition towards cleaner energy. The proceeds from the divestment will further strengthen our cash flow and enable EGCO Group to reinvest in high-potential projects that support its long-term growth”, added Dr. Jiraporn.
EGCO Group invested in the 113-MW BRWF with 67 wind turbines, located in the state of New South Wales, Australia in June 2013, and the wind farm commenced commercial operation in November 2014. It operates and generates electricity under a 15-year Power Purchase Agreement with EnergyAustralia Pty Ltd.
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