Thai Gulf Energy invests $409 million for 49% stake in Illinois gas-fired power plant

BANGKOK : Thailand's Gulf Energy Development Pcl on Friday said it has invested $409 million in a 49 per cent stake in Jackson Generation, a 1,200-megawatt gas-fired power project in the state of Illinois, its first expansion into the United States.

"As electricity demand in the United States continues to increase, Gulf sees the opportunity to develop other power projects and is also considering the potential for additional investments," chief financial officer Yupapin Wangviwat said in a statement.