Our Business / Investment ProjectsGoreway Gas Thermal IPP Project
Goreway Gas Thermal IPP Project
In September 2009, Chubu Electric Power Company (“Chubu”) and Toyota Tsusho each obtained the equity stake from Sithe Global Power (“Sithe”). Later in March 2011, the two companies increased their shares the acquiring the remaining equity stake of Sithe.
This project sells the electricity generated at the Goreway Power Station (875MW natural gas-fired, combined-cycle), located approximately 35km northwest of Canada’s largest city, Toronto, Ontario, to the Ontario wholesale electricity market. This power station employs the latest gas turbine combined-cycle power generating equipments achieving high-efficiency and excellent environment characteristics. The company operating this power station, while selling electricity to the electricity market, also receives revenue compensation1 from the Ontario Power Authority for 20 years after the start of commercial operations, providing a stable supply of electricity resulting in long term stable revenue.
JERA succeeded to this project from Chubu in July 2016.
- 1 Revenue compensation:This is a scheme wherein the Ontario Power Authority provides revenue compensation to power generating companies who satisfy certain prescribed conditions to ensure a stable operating income for the power generating companies.
|Company name||Goreway Station Partnership|
Toronto, Ontario (Approx. 35km northwest)
|Power output||875MW (as of March 2018)|
|Power generation method||Combined-cycle|
|Operating since||June 2009|
|Investors||JERA, Toyota Tsusho|