Our Business / Investment ProjectsTenaska Gas Thermal IPP Project
Tenaska Gas Thermal IPP Project
In 2010, Chubu Electric Power Company (“Chubu”) and Itochu Corporation acquired partial interest in natural gas thermal power plants in the U.S. owned by Tenaska, Inc., an IPP giant in the U.S., through their joint investment company (TC Gen). JERA succeeded to this project from Chubu in July 2016.
The three power plants have long-term tolling agreements1and are expected to generate stable revenue. This project has become a foundation for the revenue required for business expansion, including new project development in the U.S.
Of these interests which JERA succeeded, the Alabama 2 Thermal Power Plant was sold to Alabama Power Company, in August 2020, and the Georgia Thermal Power Plant was sold to BlackRock, in December 2020.
- 1Tolling agreement: A kind of power purchasing agreement between an IPP business and the power buyer that requires the power buyer to supply the fuel necessary to generate power and cover all fuel-related fees.
|Power plant name||Virginia||Gateway||Kiowa|
|Company name||Tenaska Virginia Partners||Tenaska Gateway Partners||Kiowa Partners|
(as of March 2018)
|Investors||JERA, Tenaska, J-POWER, ITOCHU||JERA, Osaka Gas, Mitsubishi Corporation, ITOCHU, Tenaska||JERA, Tenaska, ITOCHU|
|Power plant type||Combined-cycle gas turbine|
|Buyer||Shell Energy North America|
|Operating since||May 2004||July 2001||April 2003|