Renewable Energy Installations in WI

Monday, January 5, 2009

Japanese company buys 50% share in Wisconsin generation plant from GE

From an article by Shigeru Sato on Bloomberg.com:

Jan. 5 (Bloomberg) -- Itochu Corp., a Japanese trading company, said its North American unit bought a 50 percent stake in a natural gas-fired power producer in Wisconsin from GE Energy Financial Services.

Itochu's subsidiary Tyr Energy Inc. acquired the stake in Fox Energy Company LLC. for an undisclosed amount, the company said in a statement on its Web site today. The power plant, located in Kaukauna city, is capable of generating 593 megawatts of electricity.

The deal is the sixth power-plant acquisition for Tyr Energy, taking the company's total generating capacity in the U.S. to 661 megawatts, according to the statement. Fox Energy has a contract to sell as much as 500 megawatts of electricity to Wisconsin Public Service Corp., a regional utility, it said.

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