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    Tokyo Gas Buys into US Shale Gas-Fired CCGT

Summary

Tokyo Gas has acquired a 33.33% interest in the 488MW shale gas-fired combined cycle power plant, called Birdsboro, from a fund managed by Ares EIF Management.

by: Shardul Sharma

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Natural Gas & LNG News, Asia/Oceania, Gas to Power, Shale Gas , News By Country, Japan, United States

Tokyo Gas Buys into US Shale Gas-Fired CCGT

Tokyo Gas has acquired a 33.33% interest in the 488 MW shale gas-fired combined cycle power plant, at Birdsboro in Pennsylvania, from a fund managed by Ares EIF Management. The acquisition marks Tokyo Gas’ first investment in a new-build US power generation facility and its second investment in the US power generation market following its acquisition of the gas-fired Empire power plant in New York State in October 2016.

The facility is currently under construction and is expected to enter commercial operations in mid-2019, Tokyo Gas said April 18. Upon commercial operation, Birdsboro will deliver energy into the the PJM market region (originally Pennsylvania-New Jersey-Maryland, now all or parts of 13 states plus the District of Columbia).

This news comes soon after Japanese trading group Sojitz Corporation said April 6 it has closed a deal with Ares EIF Management to acquire a 33.33% equity stake in the same Birdsboro power plant.

Last year, Jera the 50-50 supply and trading joint venture of Tokyo Electric and Chubu Electric, said it will participate in a natural gas-fired power plant project in New York state through its operating company Cricket Valley Energy Center.

 

Shardul Sharma