May 16, 2023
Hunton Andrews Kurth’s Bangkok office, represented Electricity Generating Public Company Limited (EGCO), one of Asia’s largest independent energy developers with a portfolio of traditional and renewable assets throughout Asia and in North America, as investor’s counsel in connection with the multi-million dollar acquisition of a 49% stake in Rhode Island State Energy Center, LP, (RISEC), the owner and operator of a 609-megawatt natural gas power station in the state of Rhode Island, US, which is a key facility for providing ISO New England grid stability services.
The Purchase and Sale Agreement and other transaction documents were executed and finalised on November 11, 2022, and the transaction was completed on March 24, 2023.
RISEC operates in the New England Power market (ISO-NE) and is one of the most efficient natural gas power facilities in the ISO-NE system.
The Hunton team’s effort was led by Bangkok-based partners, Edward B. Koehler, and Chumbhot (Arm) Plangtrakul, along with New York partner Greg Lang and Richmond partner Richard Warren for the Warranty Insurance. Washington DC partner Eric Markus and Richmond associate Sevren Gourley also assisted in the CFIUS filing. Assistance was provided from associates in the cross-office, including Sudarat Sattayakawee, Chloe Kwon and James Coromilas. New York associates also supported with US law.