Gulf Energy Development Plc. (GULF) has successfully acquired 49% of Jackson Generation, LLC (Jackson Generation) from J-POWER Jackson Partners,
LLC for USD 409.6 million via its wholly-owned subsidiary Gulf Energy USA in the United States of America. GULF has become the project’s official shareholder and will immediately realize a
share of profit from Jackson Generation to its financial statements since the project has already commenced commercial operation.
Jackson Generation, located in Will County, Illinois, United States, has a generating capacity of 1,200 megawatts and began
commercial operation on 4 May 2022. Jackson Generation uses state-of-the-art combined cycle gas turbine technology to achieve
the highest efficiency while emitting the lowest greenhouse gases of any fossil fuel generation facility in the United States. It supplies electricity to the Pennsylvania – New Jersey – Maryland Interconnection (PJM) merchant market where PJM is a regional transmission organization with the highest reliability and electricity demand in the United States,
coordinating the movement of wholesale electricity in 13 states as well as the District of Columbia.
