J-POWER Westmoreland, LLC, a subsidiary of J-POWER USA Investment Co., Ltd., has secured an equity stake from Tenaska in the Tenaska Westmoreland Generating Station, a 925-megawatt (MW) natural gas-fueled power plant project near Pittsburgh.

The transaction closed on Jan. 11.

"This acquisition is consistent with our strategy of investing in and developing high-quality power generating facilities which connect to reliable power markets, like PJM," said Mark Condon, president and CEO of J-POWER USA. "J-POWER USA will actively continue to look for opportunities to expand its North American power generation business."

The Tenaska Westmoreland project is owned by affiliates of Tenaska, Diamond Generating Corporation, which is a subsidiary of Tokyo-based Mitsubishi Corporation, and now J-POWER USA.

J-POWER USA is a subsidiary of Tokyo-based Electric Power Development Co., Ltd, an independent power producer and the largest wholesale utility in Japan. J-POWER's relationship with Tenaska includes investments in natural gas-fueled power generating facilities in Texas and Virginia.

Tags:
M&A   Tenaska   J-POWER USA  

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