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Osaka Gas USA acquires stake in a natural gas-fired power plant in Connecticut, US

December 14. 2018

 Osaka Gas USA, a wholly-owned subsidiary of Osaka Gas Co. Ltd., has acquired a 25.0% ownership interest from a subsidiary of Competitive Power Ventures and a 24.5% ownership interest from a subsidiary of GE Energy Financial Services of CPV Towantic Energy Center, a natural gas-fired power plant in Oxford, Connecticut.

 

 CPV Towantic Energy Center is a 785MW combined-cycle facility that has been in operation since May 2018. The facility serves ISO-New England, a wholesale electricity market covering 6 states in the New England region. It benefits from a 7-year lock-in capacity payment from ISO-New England that produces stable revenues.

 

 As laid out in its long-term management vision “Going Forward, Beyond Borders 2030,” Daigas Group* targets the US energy market as a strategic area for further growth in its international business segment.

 

* Osaka Gas Group is now Daigas Group

 

Project overview

Project Name

CPV Towantic Energy Center

Location

Connecticut, US

Capacity

785MW

COD

May, 2018

Equity Owners

Osaka Gas (49.5%)
Competitive Power Ventures (26.0%)
Ullico (13.7%)
UBS (10.8%)

 

Project location map and image

Project location map and image



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and technological development by Daigas Group
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