GS EPS acquires 10 percent stake in US gas power plant

By Cho Chung-un
  • Published : Aug 30, 2018 - 14:53
  • Updated : Aug 30, 2018 - 14:53

A private power generator under GS Group has acquired a 10 percent stake in a US gas power plant in association with South Korean investors, the company said Thursday.

GS EPS bought stakes held by two US funds, Ares EIF Management and Oaktree Capital Management.

Under the contract jointly signed by Mirae Asset Daewoo and Hana Alternative Asset Management, GS EPS is to join the boardroom of Linden Cogeneration Complex, a 972 megawatt gas plant in Linden, New Jersey.

This marks the first project investment by GS EPS in the US.

Linden Cogeneration Complex (GS EPS)

The US plant provides 13 percent of the electricity needed in New York City and also exclusively to Bayway Refinery owned by Philips 66, the largest oil refiner in the East coast.

GS EPS has the LNG-fired combined circle thermal power plant 4, a 105-megawatt biomass plant and a 30-megawatt wind plant in Dangjin, South Chungcheong Province.

By Cho Chung-un (