Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 291

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 291
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173,126 |   |     |           |   — |   |     |              |  219 |   |     |         | 173,345 |   |
| As of December 31, 2023               |     |            | 194,635 |   |     |           | 122 |   |     |              |  352 |   |     |         | 195,109 |   |
| As of December 31, 2024               |     |            | 574,099 |   |     |           |  91 |   |     |              |  503 |   |     |         | 574,693 |   |

The above items of property, plant
and equipment are depreciated on a straight-line basis at the following rates per annum:

| Properties          |     | Over the shorter of 40 years  
 and the remaining lease terms |
| Computer equipment  |     | 33⅓%                          |
| Right-of-use assets |     | Over the lease term           |

<div align='center'>F-54

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 11. | PROPERTY, PLANT AND EQUIPMENT (cont.) |

As of December 31, 2022, 2023
and 2024, the Group’s properties are stated at revalued amounts of approximately US$173,126,000, US$194,635,000 and US$574,099,000,
respectively. The fair value of the Group’s properties of US$173,126,000, US$179,221,000 and US$574,099,000, respectively, as of
December 31, 2022, 2023 and 2024 is a Level 3 fair value measurement. During the year ended December 31, 2024, a property with
carrying amount of US$15,414,000 as of December 31, 2023 transferred from Level 2 to Level 3 fair value measurement.

In determining the fair values of the
properties, the Group engages an independent qualified professional valuer to perform the valuation. The management works with the independent
qualified professional valuer to establish the appropriate valuation techniques and inputs for Level 3 fair value measurement. Where
there