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 five natural gas thermal power plants in the U.S. owned by Tenaska, Inc., an IPP giant in the U.S. The companies formed a joint investment company (TC Gen) to invest and participate in the project.
The five power plants operate under long-term tolling agreements1, which means they are able to generate stable revenue, and have become a foundation for the revenue required for business expansion, including new project development in the U.S.JERA succeeded to this project from Chubu in July 2016.
- 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||Alabama II||Georgia|
|Company name||Tenaska Virginia Partners||Tenaska Gateway Partners||Kiowa Partners||Tenaska Alabama II Partners||Tenaska Georgia Partners|
(as of March 2018)
|Investors||JERA, Tenaska, J-POWER, ITOCHU||JERA, Osaka Gas, Mitsubishi Corporation, ITOCHU, Tenaska||JERA, Tenaska, ITOCHU||JERA, Tenaska, Mitsubishi Corporation, ITOCHU|
|Power plant type||Combined-cycle gas turbine||Gas turbine|
|Buyer||Shell Energy North America||Exelon Generation|
|Operating since||May 2004||July 2001||April 2003||May 2003||June 2001