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Osaka Gas acquires interests in two US Power plants

March 27. 2017

 Osaka Gas has announced today that it has entered into agreement with Competitive Power Ventures (CPV) and other owners for its acquisition of equity interest in the two power generation plants in the United States.  Shore Power Plant, having the installed capacity of 725MW and located in New Jersey, in which Osaka Gas acquires 20% equity interest, has been in operation since January 2016.  The other generation asset, the 1,050MW facility, is currently under construction and its commercial operation is slated for March 2020.  Osaka Gas will acquire a 50% interest of the plant.


The two new acquisitions will be a significant addition to the existing portfolio of the power generation assets of over 1GW owned by Osaka Gas in the United States.  Serving the PJM, the wholesale electricity market covering the northeastern parts of the country, the two plants should make an important contribution to environment-friendly supply of electricity fueled by natural gas, replacing aging coal-fired generation facilities.


In its new long-term business vision published earlier this month, Osaka Gas has given its renewed focus on international energy business as a fast-growing domain which is targeted to expand significantly accounting for about one-third of Osaka Gas’ total profits by 2030.  Osaka Gas’ acquisition of its equity interest in the two power plants will be a significant boost to accelerate the growth path through which the company will gain expertise in management and operation of power generation business in the USA.


Project structure diagram
 Project location map   


(Reference) St. Charles Power Plant Press released on April 28, 2015
                http://www.osakagas.co.jp/en/whatsnew/1223172_11885.html

 Project name

 St. Charles Power Plant

 Project company name

 CPV Maryland 

 Location

 Waldorf, Maryland, US

 Capacity

 725MW

 COD

 February, 2017

 Equity owners

 Osaka Gas(25%), Marubeni(25%)

 Toyota Tsusho(25%), CPV(25%)

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