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Japanese utility becomes tax equity investor in NJ gas-fired plant

A Kansai Electric Power Co. subsidiary has become a tax equity investor in the 669-MW (summer rating) West Deptford combined-cycle facility in Gloucester County, N.J., according to a Dec. 28 FERC filing.

Under the deal, KPIC USA LLC acquired a 17.5% class A membership stake in the natural gas-fired plant from Marubeni Corp. unit MC West Deptford Energy Investments LLC.

The deal earned FERC approval on Dec. 21 and the parties closed the transaction Dec. 28. (FERC Docket No. EC17-29)