Tokyo Gas buys stake in New York gas-fired power plant

Tokyo Gas buys stake in New York gas-fired power plant

Tokyo Gas’ unit Tokyo Gas America acquired a 25 percent interest in a 635 MW Empire natural gas power plant owned by Empire Generating Co. 

The transaction has been carried out through a joint venture company TTK Power, jointly owned with Tyr Energy, a subsidiary of Itochu Corporation and KPIC USA, a unit Kansai Electric Power (Kepco), Tokyo Gas said in a statement.

The first investment by Tokyo Gas in US power generation market, a part of a strategic cooperation with Kepco in a number of fields such as LNG procurement, power plant operation, new power plant development and joint investment into overseas businesses.

The Emire facility located in Rensselaer, New York, has a total power generation capacity of 635 MW using natural gas-fired combined cycle system. The plant has been in operation since 2010.

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