Japan's Osaka Gas Participates in US CCGT
Japan’s Osaka Gas on August 25 said it has decided to participate in a gas-based power project (CCGT) in the US state of Illinois.
The Japanese utility, through it subsidiary, signed an agreement to acquire 15% of the equity of the Three Rivers Energy Center from a subsidiary of Competitive Power Ventures (CPV). As a result of the agreement, the percentages of ownership of the project are 15% for Osaka Gas, 17.5% for CPV, 17.5% for GE, 25% for Axium, and 25% for Harrison Street.
The Three Rivers Energy Center is a 1.25 GW natural gas-fuelled thermal electric generation facility equipped with a combined-cycle system. The facility is scheduled to begin commercial operations in May 2023.
The facility will sell its power into the PJM wholesale market, enough to meet the demand of up to 1.25mn homes and businesses serving Northern Illinois, including Chicago, the company said.