JERA Americas buys two northeastern thermal power projects with an eye to renewable conversion

May 23, 2022 |

In Japan, JERA Co., Inc., through its subsidiary JERA Americas Inc., having decided to participate in thermal power generation projects in Massachusetts and Maine in the United States, has concluded a stock purchase agreement with an affiliate of funds managed by Stonepeak to acquire a 100% interest in the projects. The acquisition is expected to be finalized upon completion of all necessary approval and authorization procedures.

 The two projects, with a total capacity of approximately 1.63 GW, are the Canal Thermal Power Station in Massachusetts and the Bucksport Thermal Power Station in Maine.

JERA believes that utilization of existing large-scale power projects that do not require construction of new power transmission networks is an important part of promoting decarbonization in the northeastern United States, and will pursue commercially viable decarbonization paths including low carbon biofuels in place of traditional fuels, as well as large scale renewable projects, blending hydrogen in gas turbines, and energy storage solutions.

 As a global company providing cutting-edge solutions to the world’s energy issues, JERA will scale up its clean energy platform of renewables and low greenhouse gas thermal power, sparking sustainable development in Asia and around the world.

Category: Fuels

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