Regarding Participation in the Natural Gas Thermal Power Project in Ohio, USA
April 08, 2015
Chubu Electric Power Co.,Inc.
Chubu Electric Power participated in a natural gas thermal power project in Ohio, USA, and acquired 20% of the equity stake of the operating company, Carroll County Energy, from the development company Advanced Power.
Carroll County Energy is an Independent Power Producer supplying power through PJM(*), the largest wholesale electricity market in the USA. The completion of the Carroll County Energy Center (power generation capacity approx.: 700,000 kW) and start of commercial operation is planned for FY2017.
Natural gas thermal power generation is expected as a response to a decrease of power supply sources due to the discontinued aging coal fired power stations in the USA in recent years. This power station can supply power to the northeastern United States as an efficient source of new power, and is expected to be a stable source of income over a long period of time.
We have been participating in the natural gas thermal IPP business in the USA since 2010 and believe that we can further enhance the business in the USA through new participation in this project.
In the future, we will continue to steadily promote business overseas while taking market trends, profitability, and risks into consideration, and will lead to the further enhancement of our energy services by incorporating the knowledge acquired abroad in our domestic business.
*PJM:Independent system operator serving all or parts of the 13 states in the north-eastern United States as well as in Washington D.C.