Jera acquires stake in New York gas-fired power project

Jera acquires stake in New York gas-fired power project

Japan’s Jera, the joint company of Tepco and Chubu Electric and the largest importer of LNG, acquired a stake in a natural gas-fired thermal power generation project in New York State.

The operating company, Cricket Valley Energy Center, will construct a natural gas-fired combined cycle power generation plant with a power generation capacity of 1,100 MW in Dover, Dutchess County, New York, targeting commencement of commercial operations in 2020. The power produced will be sold on the wholesale electricity market in New York.

The power produced will be sold on the wholesale electricity market in New York, Jera said in its statement.

Jera acquired an equity stake of approximately 44 percent in the operating company, becoming its largest investor.

In July 2016, JERA succeeded to Chubu Electric Power Company and Tepco Fuel & Power overseas power generation projects. This is the first new power generation project outside of Japan in which Jera will take part.

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