JERA Sells a Part of Its Equity Interest in the Cricket Valley Gas Thermal IPP Project in New York State2018/01/04

JERA Co., Inc. (“JERA”) has sold 6% out of its equity interest in Cricket Valley Energy Center, the operating company of a natural gas-fired thermal power generation project in New York State (“the Project”). The purchaser, the Development Bank of Japan, is an existing investor in the Project. Prior to the sale, JERA held approximately a 44% interest in the Project (previously announced on 25 January 2017).

JERA will seek to enhance its corporate value and strengthen its competitiveness by from time to time selling a portion of its interest in projects to which it has added value, and as appropriate reinvesting the proceeds other projects. This transaction is in line with the above policy.

JERA will continue to be a lead contributor to drive the Project forward, utilizing its expertise in power plant construction and operational know-how accumulated through its extensive IPP business both overseas and in Japan.

Appendix: Outline of the Cricket Valley Gas Thermal IPP Project in New York State[PDF: 308KB]