Osaka Gas, a 100 percent subsidiary of Osaka Gas Co., has agreed to acquire Michigan Power, a natural gas-fired power plant in Ludington, Mich., from Wolverine Power Holdings, owned by Rockland Capital.
Upon receiving required governmental permits and transaction closing, Osaka Gas USA will be operating the power business with the plant as 100 percent share owner.
Michigan Power is an approximately 125-megawatt, gas-fired cogeneration facility that has been in operation since October 1995. The facility provides electricity to Consumers Energy Co., under a power purchase agreement, and also sells steam to a neighboring calcium chloride manufacturing plant on a long-term contractual basis.
