October 14, 2016
Participation in a Natural Gas Fired Power Plant in New York
Tokyo Gas Co., Ltd. Tokyo Gas America Ltd.
Tokyo Gas America Ltd., a wholly owned subsidiary of Tokyo Gas Co., Ltd. ("Tokyo Gas"), is pleased to announce the planned acquisition of a 25% interest in the 635MW Empire generation facility (hereinafter "Empire") from funds managed by Energy Capital Partners. The acquisition is through a newly established joint venture company TTK Power, LLC, which is jointly owned with Tyr Energy Inc. (a subsidiary of ITOCHU Corporation) and KPIC USA, LLC (a wholly owned subsidiary of The Kansai Electric Power Co., Inc. ("Kepco").
This is the first investment for Tokyo Gas in the US power generation market.
North America provides the prospect for growth in electric power demand and the advantage of natural gas-fired power with minimum environmental impact.
Empire has total power generation capacity of 635MW. It uses a natural gas fired combined cycle system. It has been operating stably in Rensselaer, NY since commercial operation began in 2010.
Tokyo Gas and Kepco have been considering strategic cooperation in various fields to utilize the strengths of both companies, such as LNG procurement, power plant operation, new power plant development, and joint investment into overseas businesses. This investment marks the first step of that initiative, and the first collaboration with Kepco in the power generation business overseas.
The Tokyo Gas Group will continue to utilize its technologies and expertise in total energy business on behalf of customers operating in Southeast Asia and North America. It is our continued mission to provide energy solutions to them, while engaging in local infrastructure development. The group is also taking up the challenge of value chain development in each region, including through partnerships with local energy companies.
Station Name | Empire |
Company Name | TTK Power, LLC |
Location | Rensselaer, NY |
Shareholders | Tyr Energy, Inc. : 50% KPIC USA, LLC : 25% Tokyo Gas America Ltd. : 25% |
Generation Capacity | 635MW |
Power Generation System | Gas-fired Combined Cycle Power Generation System |
Fuel | Natural Gas |
Commercial Operation Date | September, 2010 |
Tyr Energy Inc. (50%)
Tokyo Gas America Ltd. (25%)
KPIC USA, LLC (25%)
Holding Company TTK Power, LLC
Empire
<Empire Plant Location>
New YorkNew York County Map
Empire
(located 150miles north of New York City)
New York City
<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 14 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 October 2016 06:04:06 UTC.
Original documenthttp://www.tokyo-gas.co.jp/Press_e/20161014-01e.pdf
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