JERA, Japan’s biggest power generator, said on May 12 it had agreed to buy all stakes in two thermal power stations in the U.S. with a total capacity of 1.63 gigawatts from investment firm Stonepeak for an undisclosed sum.
The plants are the Canal thermal power station in Massachusetts and the Bucksport thermal power station in Maine, JERA said, adding the deal would be finalized upon completion of all necessary approval and authorization procedures.
JERA plans to pursue decarbonization paths at the plants, including low-carbon biofuels in place of traditional fuels, renewable power, blending hydrogen in gas turbines and energy storage solutions, the company said in a statement.
JERA, a joint venture between Tokyo Electric Power Co. Holdings Inc. and Chubu Electric Power Co. Inc., said on May 12 it would invest 1.4 trillion yen (US$11 billion) over the next four years to expand overseas assets and cut carbon emissions, a trend it expects to accelerate following Russia’s invasion of Ukraine.
Russia calls its actions in Ukraine a “special military operation.”
(US$1 = 129.1000 yen)
Recommended Reading
Woodside, Jera Sign Winter-Only Supply Deal
2025-06-20 - Woodside will supply Jera with 200,000 metric tons of LNG a year over the course of the contract, but only during the cold months of December, January and February, according to a Reuters report.
FERC Removes Barriers to NatGas Projects, Even During Appeals
2025-06-20 - The Federal Energy Regulatory Commission's new rules seek to improve the regulatory environment for natural gas infrastructure projects immediately, the agency says.
Energy Transition in Motion (Week of June 20, 2025)
2025-06-20 - Here is a look at some of this week’s renewable energy news, including a solar steam project in California and a newly proposed bill in the Senate that would extend clean fuel tax credits.
On The Market This Week (June 16, 2025)
2025-06-20 - Here is a roundup of marketed leaseholds from select E&Ps in the Haynesville Shale, Niobrara Shale, Denver-Julesburg Basin and Alaska.
USGS: Huge Oil Reserves Under Federal Land in Alaska, New Mexico
2025-06-20 - In its first update since 1998, the USGS reported significant undiscovered oil, gas and NGL reserves beneath U.S. federal lands—highlighting untapped potential in conventional and unconventional reservoirs.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.