JERA Americas’ Acquisition of 1.63GW Thermal Power Portfolio in New England

Sidley represented Stonepeak Infrastructure Partners on the deal.

JERA Co., Inc., through its subsidiary JERA Americas Inc., having decided to participate in thermal power generation projects in Massachusetts and Maine in the United States, has concluded a stock purchase agreement with an affiliate of funds managed by Stonepeak to acquire a 100% interest in the Projects. The acquisition is expected to be finalized upon completion of all necessary approval and authorization procedures.

The two Projects, with a total capacity of approximately 1.63 GW, are the Canal Thermal Power Station in Massachusetts and the Bucksport Thermal Power Station in Maine.

The northeastern United States is densely populated and has a reliably high demand for electricity, but the region is also a challenging location for new large-scale power projects and tends to have tight electricity supply-demand in winter.

The Sidley team was led by Tim Chandler (Picture), Zack Pullin, Alexander Tanton, Chanse Barnes, Sarah O’Brien and Konnor Rodriguez.

 

Involved fees earner: Chanse Barnes – Sidley Austin LLP; Timothy Chandler – Sidley Austin LLP; Sarah O’Brien – Sidley Austin LLP; Zackary Pullin – Sidley Austin LLP; Konnor Rodriguez – Sidley Austin LLP; Alexander Tanton – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: Stonepeak Infrastructure Partners;

Martina Bellini

Author: Martina Bellini