BCPG Plc, the power generation arm of energy conglomerate Bangchak Group, aims to increase revenue from electricity generation in the US by acquiring an additional 8.7% share in Carroll County Energy Llc, which operates a combined-cycle power plant in Ohio.
The share purchase, which was made through BCPG's wholly-owned subsidiary BCPG USA Inc, increases the company's shareholding to a total of 48.7%, said Niwat Adirek, chief executive and president of BCPG.
The investment increases power generation capacity based on BCPG's ownership to 341 megawatts, up from 280MW.
"The investment in Carroll County Energy is a good opportunity to gain stable revenue as the power plant serves the energy needs of the Pennsylvania-New Jersey-Maryland Interconnection," said Mr Niwat.
Known as PJM, the Pennsylvania-New Jersey-Maryland Interconnection is the largest regional transmission organisation, coordinating the movement of wholesale electricity in 13 states in the US.
BCPG did not reveal the cost for the shares purchased from 730 Carroll Llc.
Earlier the company acquired a 40% share from 730 Carroll, which previously held a 100% stake in Carroll County Energy.
The combined-cycle power plant uses both gas and steam turbines to produce electricity. The waste heat from the gas turbine can be used to generate extra power.
With its efficient power generation and low fuel consumption, this power plant is more competitive than others in terms of energy prices in the market, said Mr Niwat.
BCPG has invested in four natural gas-fired power plants: Carroll County Energy and South Field Energy Llc in Ohio, as well as Hamilton Liberty Llc and Hamilton Patriot Llc in Pennsylvania, with a total combined capacity of 857MW.
The company said its total power plant capacity in all countries is 2,024MW.