Japan's JERA to buy stakes in U.S. thermal power stations

TOKYO Reuters -- JERA, Japan's biggest power generator, said on Friday that it had agreed to buy all stakes in two thermal power stations in the United States with a total capacity of 1.63 gigawatts from investment firm Stonepeak.

The deal will be finalised upon completion of all necessary approval and authorisation procedures, according to JERA, which includes the Canal thermal power station in Massachusetts and the Bucksport thermal power station in Maine.

The company said in a statement that JERA plans to pursue decarbonisation paths at plants, including low-carbon biofuels in place of traditional fuels, renewable power, blending hydrogen in gas turbines and energy storage solutions.

JERA, a joint venture between Tokyo Electric Power Company Holdings Inc and Chubu Electric Power Co Inc, said it would invest 1.4 trillion yen $11 billion over the next four years to expand overseas assets and reduce carbon emissions, a trend it expects to accelerate after Russia's invasion of Ukraine.