Go to the contents of this page.

IR News

Text Size
  • The font size is reduced.
  • The font size is made a standard.
  • The font size is enlarged.
Print
The page is printed.

Acquisition of the Remaining Ownership of Marianas Energy Company in Guam, US

March 2, 2007
Osaka Gas Co., Ltd.

 

Gas and Power Investment Co., Ltd. (GPI), a wholly-owned subsidiary of Osaka Gas Co., Ltd. (Osaka Gas), reached an agreement with ArcLight Capital Partners, LLC (ArcLight) yesterday on the acquisition of the remaining ownership (50%) of Marianas Energy Company, LLC (MEC), currently owned by an affiliate of ArcLight.

The acquisition will be an addition to the 50% ownership which GPI acquired from ArcLight in December 2005 through Osaka Gas Energy America Corporation (OGEAC), a US affiliate of GPI. As a result of this transaction, MEC will become a 100% subsidiary of OGEAC. The independent power production (IPP) plant operated by MEC supplies electricity to Guam Power Authority through a long-term power purchase agreemen. The transaction is scheduled to close in early March 2007.

Osaka Gas places a high priority on the development and acquisition of IPP assets both at home and abroad as part of its strategy to develop into a multi-energy services company. The new acquisition is expected to further bolster revenues from IPP business and to contribute to strengthening its expertise and know-how on electricity business.

The power plant, located in Piti, Guam, having the rated capacity of 87MW, consists of two diesel engine-driven generators fueled by fuel oil. The plant was commissioned in January 1999.


Table of Contents

Investor Relations

Find out us (Corporate Info.)

  • Business Overview
  • Corporate History
  • CSR of Daigas Group

Go to the contents of this page.