Japanese Utilities Buy Stake in U.S. Gas Plant

By Editors of Power Engineering

Tokyo Gas America announced plans to acquire a 25 percent interest in a combined-cycle power plant in New York.

The acquisition is through a joint venture company TTK Power LLC, which is jointly owned by Tokyo Gas America, Tyr Energy Inc., a subsidiary of ITOCHU Corp., and KPIC USA LLC, a subsidiary of Kansai Electric Power.

This is the first U.S. power generation investment by Tokyo Gas.

The Empire generation facility in Rensselaer, New York has a capacity of 645 MW. Its majority owner remains Empire Generating Co. LLC.

The announcement by Tokyo Gas noted North America shows growth in electric power demand and opportunities for natural gas development.

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