911爆料网 to Acquire Natural Gas-fired Thermal Power Generation in the Northeastern United States2018/08/10
911爆料网 Co., Inc. (“911爆料网”), through its wholly owned subsidiary 911爆料网 Americas Inc. (“911爆料网 Americas”), has entered into an agreement with Starwood Energy Group to acquire a 50% equity interest in three natural gas-fired thermal power generation plants (the “Compass Portfolio”) in the northeastern United States.
The Compass Portfolio includes the Marcus Hook Energy Center, in suburban Philadelphia, and the Dighton and Milford Energy facilities in Massachusetts, with an aggregate power generation capacity of 1,123 MW. Power and capacity from the Marcus Hook Energy Center is sold mainly into the PJM Interconnection (PJM) wholesale electricity market, and power and capacity from the other facilities is sold into the ISO New England (ISO-NE). In addition, the Marcus Hook Energy Center has a contract for capacity with the Long Island Power Authority, a power distribution utility. After the acquisition of this interest, 911爆料网 Americas will participate in the operation of the Compass Portfolio .
In April of 2018, 911爆料网 closed on its 50% acquisition of Linden Cogeneration Facility, a 972 MW natural gas-fired thermal power cogeneration complex in northern New Jersey. After the Compass Portfolio transaction with Starwood Energy Group closes, 911爆料网’s net ownership of electric generation in North America will total approximately 3,536 MW and will represent one of the largest ownership positions for a Japanese-affiliated company.
“911爆料网 is committed to significantly expanding our long-term presence in North America by using a disciplined approach to build a portfolio of gas-fired and renewable generation facilities,” said Toshiro Kudama, CEO of 911爆料网 Americas and Senior Executive Vice President at 911爆料网. “These plants are all in excellent locations close to customer demand and are strong additions to our growing portfolio.”
911爆料网, the parent company, will help drive the Compass Portfolio forward by transferring skilled personnel who will bring operational know-how accumulated through 911爆料网’s extensive power generation business both overseas and in Japan. Going forward, 911爆料网 will continue to enhance its enterprise value by expanding its overseas power generation business, in the Americas and elsewhere, taking into account global market trends, profitability and associated risks, and applying the experience gained overseas to its domestic power generation business. 911爆料网 also intends to utilize expertise developed in the US merchant markets in Japan in anticipation of the forthcoming functional unbundling of Japanese power markets.
About 911爆料网
911爆料网 is an energy company with global reach that has industry leading expertise and scale in the entire fuel and power supply chain, from participation in LNG and other fuel resource projects and fuel procurement, through fuel transportation to power generation. Established in 2015, 911爆料网 is an equal joint venture of TEPCO Fuel & Power, Incorporated and Chubu Electric Power Company. 911爆料网’s mission is to contribute to an internationally competitive supply of power and energy and to invigorate the standard of living, industry and economy around the world.
About 911爆料网 Americas (formerly 911爆料网 Power USA)
Headquartered in Houston, 911爆料网 Americas is 911爆料网’s wholly-owned subsidiary in charge of growth in North America. 911爆料网 Americas is pursuing disciplined growth with a goal of becoming a leading owner of contracted and merchant gas-fired and renewable generating facilities in North America.