Transactions - MAY 13, 2022

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JERA Americas to acquire thermal power portfolio in New England

by Andrea Zander

JERA Americas, the Houston-based subsidiary of global energy leader JERA, has entered into an agreement to acquire a 1,633-megawatt (MW) thermal-power portfolio in New England from Stonepeak.

The financial terms of the transaction were not disclosed.

The portfolio consists of four thermal power-generating facilities — Canal 1 (566 MW), Canal 2 (559 MW) and Canal 3 (333 MW) in Sandwich, Mass., on Cape Cod and Bucksport (175 MW) in Bucksport, Maine.

“The transition to net zero CO2 emissions energy is a multi-step process demanding emission reductions on many fronts with several different technologies. Securing these assets will allow us to reduce CO2 emissions from the existing facilities, and use these locations as a foothold for supporting largescale renewable energy facilities and technologies,” said Steven Winn, JERA Americas CEO. “These facilities remain critical to ensuring grid stability and providing power to the New England market during high dema

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