Sojitz : Acquires Stake in its 2nd Gas-fired Power Plant in the U.S.
May 15, 2018 at 07:38 am IST
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Sojitz Corporation ('Sojitz') has acquired a 20.25% equity interest in Kleen Energy Holdings LLC, the parent company of Kleen Energy Systems, LLC from investment fund manager Ares EIF Management, LLC ('Ares EIF'). Kleen Energy Systems owns and operates the Kleen Energy Project ('Kleen Power Plant'), a gas-fired power plant engaged in the sale of electricity in the city of Middletown, Connecticut. The Kleen Power Plant is Sojitz's second power generation project in the U.S. following last year's investment in the Birdsboro Power Plant in Pennsylvania.
【Location of Kleen Power Plant】
The Kleen Power Plant, which utilizes a low emission combined-cycle generating system equipped with gas and steam turbines (total output: 620 megawatts), supplies electricity to New England through ISO-NE.*
* ISO-NE (ISO-New England Inc.) is a wholesale electricity market which consists of six states in the northeastern U.S.
Sojitz will continue to make use of its experience developing and operating power projects both in Japan and overseas, striving to expand the areas in which it does business to include comprehensive energy services which provide everything from energy supply to power generation. At the same time, Sojitz aims to expand business that meets society's needs as well as strengthen its initiatives focused on social infrastructure.
Related Information:
Company Overview - Kleen Energy Systems, LLC
Start of Commercial Operations
July 2011
Location
Middletown, Connecticut (U.S.)
Generation Capacity
620MW(total output)
Key Equipment
SIEMENS gas turbine (SGT6-5000F)
Company Overview - Kleen Energy Holdings, LLC.
Established
June 2008
Location
Three Charles River Place, 63 Kendrick Street, Suite 101,
Neenham, MA, 02494
Ownership
Sojitz Corporation:20.25%
Osaka Gas Co., Ltd.: 24.30%
Kyushu Electric Power Co., INC.: 20.25%
The Chugoku Electric Power Co., Inc.: 16.20%
Existing Investor: 19%
Main Business
Natural gas power generation business
Sales to ISO-NE wholesale electricity market in the U.S.
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Sojitz Corporation published this content on 15 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 May 2018 02:07:01 UTC
Sojitz Corporation is a diversified group organized around 10 business segments:
- distribution of chemicals products (25.4% of sales): organic, basic and specialty chemicals, plastic products, resins, etc;
- mining operations (22.2%): coal mining, alumina refining, sale of steel products and ferrous and non-ferrous metals, etc;
- distribution of large consumer products (17.6%): clothing and accessories, textile products, home and decorative articles, etc;
- automobile assembly and sales (11.6%);
- production and sale of food products and ingredients (7.8%);
- sale of industrial machinery and equipment and development of health facilities (6.9%);
- development and operation of energy and telecommunications infrastructure (3.6%);
- industrial infrastructure operation, property management and urban development (2%);
- aircraft and ship sales (1.7%). The group also develops activities in the operation of airport and rail infrastructure;
- other (1.2%): provision of financial services, logistics services, consulting, etc.