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Participating in Natural Gas-Fired Thermal Power Generation Project in New York
Showa Shell Sekiyu K.K. (“Showa Shell”, Representative Director, President, Executive Officer, CEO: Tsuyoshi Kameoka) is participating in an approximately 1,181 MW natural gas–fired combined cycle thermal power generation facility in New York (“the Project”) through investment in the Project's holding company, Cricket Valley Energy Center LLC (the “Company”). Showa Shell purchased 10% of the equity interest in the Company from Advanced Power (“AP”), the developer of the Project.
The Project,located in Dover, Dutchess County, New York, is currently under construction and is scheduled to achieve commercial operations in 2020. Upon achievement of commercial operations, they will sell energy and capacity into NYISO, the regional transmission organization responsible for New York.
Showa Shell's generation capacity will exceed 1GW class, by adding this project to South Field Energy in Ohio (also developed by AP - please see press release dated August 24, 2018).Showa Shell's aim and significance
Showa Shell aims to maximize performance of projects by its involvement in construction and operation. Showa Shell also aims to accelerate to acquire the knowledge of the most progressive wholesale electricity markets and operation of projects in US and to form portfolio of oversea assets, by utilizing advantage of difference in market of two PJs.
Showa Shell, in its Mid-Term Business Strategy, has set the goal of participating in natural gas–fired power generation projects in the Asia-Pacific region, North America, and other overseas markets. This investment is also in accordance with new company's strategy “Go into overseas business.” We will achieve business strategy and contribute to global CO2 reduction by expanding high-efficient gas power plants, which can utilize our experience in Ohigishima power, and will replace low-efficient aged gas power plants and coal power plants.Outline of the Natural Gas–Fired Thermal Power Generation Project in New York
|Project Holding Company||Cricket Valley Energy Center LLC|
|Investors||Showa Shell Sekiyu K.K(Showa Shell); JERA; DBJ;|
TIAA Global Asset Management (TIAA);Advanced Power (AP);
BlackRock; NongHyup Financial Group (NHFG) and Kiwoom
|Place||Dover, Dutchess County, New York, U.S.A.|
(Approx. 100km northeast of New York City)
|Generation Capacity||Approx. 1,181MW|
|Generation Method||Natural gas-fired combined cycle power generation|
（Gas turbine: GE 7FA.05）
|Start of Operation||2020 (Scheduled)|
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