August 10, 2018 / 10:00 AM / 3 months ago

Japan's JERA to buy 50 pct stake in 3 U.S. gas-fired power plants

TOKYO, Aug 10 (Reuters) -

* Japan’s JERA, a joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power, says it has agreed to buy a 50 percent stake in three natural gas-fired thermal power stations in the northeastern United States for an undisclosed sum.

* The power plants are the Marcus Hook Energy Center in Philadelphia as well as the Dighton and the Milford Energy facilities in Massachusetts, with a total power generation capacity of 1,123 megawatt (MW).

* After the deal, JERA’s equity ownership of electric generation in North America will increase to 3,536 MW, about 70 percent of its targeted ownership of 5,000 MW by 2030, according to a JERA spokesman.

* JERA, the world’s biggest liquefied natural gas buyer, says the acquisition is aimed at expanding its overseas power generation business and utilizing expertise developed in the U.S. markets in Japan. (Reporting by Yuka Obayashi)

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