Japanese Now Own 2/3 of Marcellus-Powered Electric Plant in SEPA

Two weeks ago MDN brought you the news that Japanese company Sojitz Corporation had purchased a one-third (1/3) interest in the 488-megawatt Marcellus gas-fired electric plant being built in Birdsboro, near Philadelphia (see Japanese Co Buys 1/3 of Marcellus-Powered Electric Plant in SEPA). EmberClear plans to begin construction on the Birdsboro Power project in 2018, with an in-service date of June 2019. Word has just come that a second Japanese company, Tokyo Gas (a regional utility company in Japan) has purchased a one-third (1/3) interest in the Birdsboro project–meaning the Japanese will own 2/3 of the plant. However, investment firm Ares EIF will retain the final one-third ownership and provide “day-to-day management” of the facility. While the exact amount of the transaction was not disclosed, it’s said to be “tens of millions of dollars.” What’s up with Japan buying into our powergen projects? In the case of Tokyo Gas it’s crystal clear–they will participate in every aspect of building this project, so they can take their newfound knowledge back home and apply it there. Or depending on your point of view, you might say they want to steal our technology and trade secrets…

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