Tokyo Gas buys stake in New York gas-fired power plant
Tokyo Gas’ unit Tokyo Gas America acquired a 25 percent interest in a 635 MW Empire natural gas power plant owned by Empire Generating Co.
The transaction has been carried out through a joint venture company TTK Power, jointly owned with Tyr Energy, a subsidiary of Itochu Corporation and KPIC USA, a unit Kansai Electric Power (Kepco), Tokyo Gas said in a statement.
The first investment by Tokyo Gas in US power generation market, a part of a strategic cooperation with Kepco in a number of fields such as LNG procurement, power plant operation, new power plant development and joint investment into overseas businesses.
The Emire facility located in Rensselaer, New York, has a total power generation capacity of 635 MW using natural gas-fired combined cycle system. The plant has been in operation since 2010.