JERA, Japan’s biggest power generator, said on May 12 it had agreed to buy all stakes in two thermal power stations in the U.S. with a total capacity of 1.63 gigawatts from investment firm Stonepeak for an undisclosed sum.
The plants are the Canal thermal power station in Massachusetts and the Bucksport thermal power station in Maine, JERA said, adding the deal would be finalized upon completion of all necessary approval and authorization procedures.
JERA plans to pursue decarbonization paths at the plants, including low-carbon biofuels in place of traditional fuels, renewable power, blending hydrogen in gas turbines and energy storage solutions, the company said in a statement.
JERA, a joint venture between Tokyo Electric Power Co. Holdings Inc. and Chubu Electric Power Co. Inc., said on May 12 it would invest 1.4 trillion yen (US$11 billion) over the next four years to expand overseas assets and cut carbon emissions, a trend it expects to accelerate following Russia’s invasion of Ukraine.
Russia calls its actions in Ukraine a “special military operation.”
(US$1 = 129.1000 yen)
Recommended Reading
Trump to Host Top US Oil Chief Executives as Trade Wars Loom
2025-03-19 - U.S. President Donald Trump will host top oil executives at the White House on March 19 as he charts plans to boost domestic energy production in the midst of falling crude prices and looming trade wars.
US Tariffs on Canada, Mexico Hit an Interconnected Crude System
2025-03-04 - Canadian producers and U.S. refiners are likely to continue at current business levels despite a brewing trade war, analysts say.
Pickering Prognosticates 2025 Political Winds and Shale M&A
2025-01-14 - For oil and gas, big M&A deals will probably encounter less resistance, tariffs could be a threat and the industry will likely shrug off “drill, baby, drill” entreaties.
Impacts of Trump’s Tariffs on North American Energy Markets
2025-03-06 - On March 6, President Trump granted exemptions on tariffs for numerous goods imported from Mexico and Canada until April 2, when Trump intends to impose another set of retaliatory tariffs on various countries. What are their immediate and long-term impacts and how can companies mitigate their effects?
Paisie: Impact of Tariffs, Sanctions and ‘Drill, Baby, Drill’
2025-03-07 - The U.S. has the advantage with tariffs on Canada, but sanctions and pleas for increased oil supply are unlikely to be effective.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.