Osaka Gas USA acquires stake in a natural gas-fired power plant in Connecticut (Towantic)
December 14 2018
Osaka Gas USA has acquired a 25 % ownership interest from Competitive Power Ventures and a 24.5% ownership interest from GE Energy Financial Services of CPV Towantic Energy Center, a natural gas-fired power plant in Connecticut.
CPV Towantic Energy Center is an approximately 785MW gas-fired facility that has been in operation since May 2018. The facility serves ISO-New England, a wholesale electricity market covering 6 states in the New England region. It benefits from a 7-year lock-in capacity payment from ISO-New England that produces stable revenues.
See also media release by Osaka Gas Co., Ltd. (parent company of Osaka Gas USA)