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JERA to purchase stake in 4 gas-fired power plants in northeastern US

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JERA to purchase stake in 4 gas-fired power plants in northeastern US

JERA Co. Inc. has asked the Federal Energy Regulatory Commission to approve the purchase of an indirect 50% equity interest in four natural gas-fired power plants in the northeastern U.S.

Under the transaction, JERA will purchase interests that an entity called NatGas Holdings 2 LLC holds in the 200-MW Dighton and 178-MW Milford Power CC combined-cycle plants in Massachusetts, and the 836-MW Marcus Hook and related 50-MW Marcus Hook Cogeneration facilities in Pennsylvania.

Once the transaction is complete NatGas Holdings 2 will indirectly hold 50% of the equity interests in the power plants and JERA will indirectly own the other 50%.

NatGas Holdings 2 is indirectly owned by Starwood Energy Group Global LLC. JERA is jointly owned by Japanese utilities Chubu Electric Power Co. Inc. and Tokyo Electric Power Co. Holdings Inc.

FERC has been requested to approve the transaction by Aug. 23. (FERC docket EC18-136)