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Osaka Gas to Participate in a Construction Phase IPP Project in the U.S.

April 28. 2015

Osaka Gas has entered into an agreement today with Marubeni Corporation (Marubeni) for its acquisition of 25% equity interest of CPV Maryland LLC (St. Charles Power Project) held by Marubeni.  Subsequent to completion of this transaction scheduled in late May 2015, the equity composition of the St. Charles Power project will be; Osaka Gas 25%, Marubeni 25%, Toyota Tsusho Corporation 25%, and Competitive Power Ventures 25%. 

The power plant, located in Waldorf, Maryland, having its capacity of 725MW, is currently under construction.  Start of commercial operation of the plant is slated for February 2017.  The electricity output from the plant will be sold to users through the PJM power market in the United States.

Company Profile

Name: Osaka Gas Co., Ltd.
Headquarters: Osaka, Japan
President and CEO: Takehiro Honjo
Capital: 132 billion yen
Founded: April 1897
Business Outline: Distribution of gas, generation and distribution of power
Sales: 1.5 trillion yen (as of March 2014)

Name: Marubeni Corporation
Headquarters: Tokyo, Japan
President and CEO: Fumiya Kokubu
Capital: 262 billion yen
Founded: December 1949
Business Outline: General trading company
Sales: 13.6 trillion yen (as of March 2014)

Name: Toyota Tsusho Corporation
Headquarters: Nagoya, Japan
President and CEO: Jun Karube
Capital: 64.9billion yen
Founded: July 1948
Business Outline: General trading company
Sales: 7.7 trillion yen (as of March 2014)

Name: Competitive Power Ventures
Headquarters: Maryland, USA
Chairman and CEO: Doug Egan
Founded: December 1999
Business Outline: electric power generation development and asset management




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