IHI Corporation buys five power plants from Exelon

By Editor


IHI Corporation buys five power plants from Exelon

Greentech Lead America: Exelon has sold its ownership
share of five California power plants to Tokyo-based IHI Corporation. The power
plants generate a total of 70 megawatts.

The power plants joined Exelon’s generating portfolio
following the company’s merger with Constellation in
March 2012. Exelon Power, a business unit of Exelon, was the operator of the
plants. The Exelon Power employees at the five facilities will continue in
their positions.

Exelon president and CEO Christopher M. Crane said
that the sale of these facilities is part of company’s long-term growth
strategy and the sales will allow Exelon to better focus on positioning its
generation portfolio for the future.

IHI acquired Exelon’s 50 percent stake in the four Rio
Bravo power plants and 45 percent stake in the Chinese Station plant.

The five California power plants include:

Chinese Station (biomass) in Jamestown, in which Exelon
owned a 9.9 MW share;

Rio Bravo Fresno (biomass) in Fresno, in which Exelon
owned a 12 MW share;

Rio Bravo Jasmin (coal) in Bakersfield, in which Exelon
owned a 17.5 MW share;

Rio Bravo Poso (coal) in Bakersfield, in which Exelon
owned a 17.5 MW share;

Rio Bravo Rocklin (biomass) in Lincoln, in which Exelon
owned a 12 MW share.

IHI has plans to commence operations of IHI Power
Services Corp. (IPower) as an O&M services provider in the U.S.

“This is an important step in establishing IHI as an
owner and operator of renewable energy projects, the company formed to oversee
the portfolio of five California power plants. These plants have an experienced
workforce and a strong record of safe and efficient operation. This acquisition
forms a solid platform for IHI’s further expansion into the energy services
business in North America, which is a key element of our global growth
strategy,” “said Mikio Mochizuki, executive officer, IHI Corporation.

Toshiba, Shaw Group and Exelon partner with NET Power

Recently, Toshiba, NET Power, Shaw Group and Exelon
signed an agreement to develop a next-generation thermal power system. The four
companies will support NET Power to commission 25 MW natural gas plant by 2014
and a 250 MW full-scale natural gas commercial plant by 2017.


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