JERA Americas has completed the divestment of its indirect equity interests in three gas-fired power plants in the ERCOT, SPP, and PJM markets in the USA to Tenaska and Tyr.
The JERA subsidiary completed the transfer of its 50 percent interest in TC Generation LLC (TC Gen), a joint investment vehicle established with ITOCHU Corp. subsidiary Tyr Energy Inc., according to a news release.
The facilities in the transaction have a combined generating capacity of 3,005 megawatts (MW) and serve critical power markets across the USA, the release said. The facilities include the 940-MW Tenaska Virginia Generating Station located near Scottsville, Virginia; the 1,220-MW Tenaska Kiamichi Generating Station located near McAlester, Oklahoma; and the 845-MW Tenaska Gateway Generating Station located near Mt. Enterprise, Texas.
“This transaction marks an important step in JERA Americas’ strategy to optimize our portfolio for future growth,” Elijah Smith, JERA Americas senior vice president of M&A, said. “We are committed to reinvesting in assets that align with the evolving energy landscape and drive growth”.
“Expanding our ownership is consistent with Tenaska’s strategy to deploy capital by investing in well-positioned generating assets,” Dave Kirkwood, Tenaska senior vice president and head of capital deployment and finance, said. “We look forward to building upon our existing relationship with Tyr as we continue to provide reliable power in PJM, SPP and ERCOT. We thank JERA Americas for their support over the years”.
Kevin Calhoon, Tyr executive vice president of asset management and strategy, said, “We’re pleased to work with JERA Americas and Tenaska on this transaction and appreciate the collaboration throughout the process. This acquisition reflects our commitment to investing in high-quality assets that align with the future of energy”.
In a separate statement, JERA said it plans to reinvest transaction proceeds “as it continues to optimize its asset allocation in a changing business environment in the [USA]”.
Houston-based JERA Americas is the U.S. subsidiary of Tokyo-based JERA, which provides about 30 percent of Japan’s electricity. JERA describes itself as one of the largest energy providers and liquefied natural gas (LNG) buyers in the world.
Overland Park, Kansas-based Tyr describes itself as an owner, manager, and developer of North American independent power projects. Since its inception in 2003, the company said it has developed and invested in more than 40 power projects in the USA, including 12 investments in wind and solar assets.
Tyr is also an affiliate of NAES Corp., which operates approximately 250 thermal power plants with a capacity of 63 gigawatts (GW), as well as approximately 1,400 solar power facilities with a capacity of 2 GW.
Tenaska describes itself as an energy company with business operations that span the energy value chain. The company has an operating fleet of 7,482 MW of natural gas and renewable generating facilities and has developed, managed and/or operated more than 23,000 MW of natural gas-fueled and renewable generation. Tenaska said it is also advancing more than 9,000 MW of natural gas-fueled generation and a portfolio of energy storage projects.
To contact the author, email rocky.teodoro@rigzone.com
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
element
var scriptTag = document.createElement(‘script’);
scriptTag.src = url;
scriptTag.async = true;
scriptTag.onload = implementationCode;
scriptTag.onreadystatechange = implementationCode;
location.appendChild(scriptTag);
};
var div = document.getElementById(‘rigzonelogo’);
div.innerHTML += ” +
‘
‘ +
”;
var initJobSearch = function () {
//console.log(“call back”);
}
var addMetaPixel = function () {
if (-1 > -1 || -1 > -1) {
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);
/*End Meta Pixel Code*/
} else if (0 > -1 && 84 > -1)
{
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);
/*End Meta Pixel Code*/
}
}
// function gtmFunctionForLayout()
// {
//loadJS(“https://www.googletagmanager.com/gtag/js?id=G-K6ZDLWV6VX”, initJobSearch, document.body);
//}
// window.onload = (e => {
// setTimeout(
// function () {
// document.addEventListener(“DOMContentLoaded”, function () {
// // Select all anchor elements with class ‘ui-tabs-anchor’
// const anchors = document.querySelectorAll(‘a .ui-tabs-anchor’);
// // Loop through each anchor and remove the role attribute if it is set to “presentation”
// anchors.forEach(anchor => {
// if (anchor.getAttribute(‘role’) === ‘presentation’) {
// anchor.removeAttribute(‘role’);
// }
// });
// });
// }
// , 200);
//});
