EGCO Group to sell entire stake in Boco Rock Wind Farm, Australia

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.

About EGCO

Group EGCO Group currently has (as of 4 February 2025) a total equity capacity of 6,721 MWe in operation and under construction. Total equity capacity from renewable energy is 1,463 MWe (equivalent to 22% of the total portfolio). The RE portfolio includes biomass, hydropower, solar power, onshore and offshore wind power, fuel cells, and battery storage. EGCO Group's facilities and other projects are located in 8 countries, namely Thailand, Lao PDR, the Philippines, Indonesia, Australia, South Korea, Taiwan and USA. In addition to power business, other energy-related businesses of the company include EGCO Engineering and Service Co., Ltd. (ESCO) providing power plant operations, maintenance, engineering, construction, energy conservation and training services to power and industrial plants in many industries; the infrastructure and utilities company "CDI" in Indonesia, Thai Pipeline Network Co., Ltd. (TPN), EGCO Rayong Industrial Estate (ERIE), "Innopower" which is a high tech start up incubator that EGCO Group owns together with its partners EGAT and RATCH Group; and "Peer Power" which is a new financial technology company. EGCO Group has been listed in the Dow Jones Sustainability Index (DJSI) for the 5th year in a row (2020-2024).

Learn more about EGCO Group through our website at www.egco.com or on social media at www.facebook.com/EGCOGroup.