TOKYO GAS CO., LTD. April 18, 2017
Participation in a Natural Gas Fired Power Plant in Pennsylvania
Tokyo Gas Co., Ltd. Tokyo Gas America Ltd.
Tokyo Gas America Ltd., a wholly owned subsidiary of Tokyo Gas Co., Ltd. (hereinafter "Tokyo Gas"), is pleased to announce the acquisition of a 33.33% interest in the 488MW Birdsboro generation facility (hereinafter "Birdsboro") from a fund managed by Ares EIF Management, LLC (hereinafter "Ares EIF").
The acquisition marks Tokyo Gas' first investment in a new-build US power generation facility and second investment in the US power generation market following its acquisition of the gas-fired Empire power plant in New York State, announced in October 2016.
Birdsboro is positioned to benefit from long-term growth in North American power demand and utilizes the latest technology to minimize environmental impact.
We closed the acquisition of a 33.33% interest of Birdsboro Power Holdings II, LLC, pursuant to an agreement with Ares EIF who retained a 33.33% interest in Birdsboro and will provide day-to-day management.
Birdsboro is a 488MW new-build natural gas-fired combined cycle power plant which will use highly efficient new turbines located in Birdsboro, Pennsylvania. The facility is currently under construction and is expected to enter commercial operations in mid-2019. Upon commercial operation, Birdsboro will deliver energy into the PJM interconnection in the northeastern US.
Tokyo Gas Group will continue to utilize its technologies and expertise in the broader energy business on behalf of customers operating in Southeast Asia and North America. It is our continued mission to provide energy solutions to our customers, while engaging in local infrastructure development. The group is also taking up the challenge of value chain development in each region, including the formation of partnerships with local energy companies.
Station Name | Birdsboro |
Company Name | Birdsboro Power Holdings II, LLC |
Location | Birdsboro, PA |
Shareholders | Ares EIF: 33.33% Sojitz: 33.33% Tokyo Gas America Ltd.: 33.33% |
Generation Capacity | 488MW |
Power Generation System | Gas-fired Combined Cycle Power Generation System |
Fuel | Natural Gas |
Commercial Operation Date | Mid-2019 |
Ares EIF (33.33%)
Tokyo Gas America Ltd. (33.33%)
Sojitz (33.33%)
Birdsboro Power Holdings II, LLC
Birdsboro
＜Birdsboro Plant Location＞
Birdsboro PlantPA （50 miles from Philadelphia）
Philadelphia＜Profile of Tokyo Gas America Ltd.>
Company Name | Tokyo Gas America Ltd. |
Established | February 1, 2013 |
Head Office | Houston Texas |
President CEO | Shunjiro Yamashita |
Capital | USD 1,000,000 |
Capital Structure | Wholly Owned Subsidiary of Tokyo Gas |
Business | New Investment and Management in North America |
Tokyo Gas Co. Ltd. published this content on 18 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 April 2017 06:03:15 UTC.
Original documenthttp://www.tokyo-gas.co.jp/Press_e/20170418-02e.pdf
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