JERA to Acquire 50% Stake in Gas Fired Power Complex in New Jersey, US from Oaktree Capital Management and Ares Management

Published: Oct 12 2017
Deal Summary

JERA Co Inc, a company engaged in investments and construction of power plants, through its subsidiary JERA Power U.S.A. Inc., has agreed to acquire Linden Cogen Holdings LLC, owner of gas fired power cogeneration complex situated in New Jersey, US, from funds managed by Oaktree Capital Management L.P. and Ares Management L.P. and their respective co-investors. The total installed capacity of the plant is 972 MW. The project is operational since 1992.

The project sells power produced to the wholesale electricity market in the State of New York (NYISO) as well as the PJM Interconnection, the wholesale electric market serving a number of states, including New Jersey. In addition, Linden sells power and steam produced during the process of power generation for industrial use.

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