Jera to sell stakes in Thailand power plants

Japan’s LNG trading giant Jera has agreed to sell stakes in two natural gas-fired combined-cycle power plants in Thailand.

The joint venture of Tepco and Chubu Electric said in a statement on Tuesday it had concluded an agreement to sell the plants with a subsidiary of Eastern Power Group.

Furthermore, Eastern Power would buy Jera’s entire stake in two operating companies that operate cogeneration facilities at the Lat Krabang Industrial Estate and Bangpoo Industrial Estate in the suburbs of Bangkok, Thailand.

Jera has a 23.80 percent stake in the Lat Krabang plant with a 120MW capacity but also a 19.04 percent stake in the Bangpoo plant with a 240MW capacity.

The firm expects the sale to complete by the end of fiscal 2021.

“Jera will continue to renew its portfolio going forward, selling assets and reinvesting the proceeds as it optimizes its asset allocation for compatibility with a changing business environment and seeks to expand earnings,” it said.

Jera has this year revealed several LNG-to-power and hydrogen developments.

One of the most recent moves includes buying a 27 percent stake in Aboitiz Power, as Jera plans to develop LNG-to-power projects in the Philippines.

It also recently sold its stake in MT Falcon Holdings, which operates five natural gas combined-cycle power plants in northeastern Mexico.

Most Popular

Another steam LNG carrier sold for demolition

An NYK-managed steam liquefied natural gas (LNG) carrier has been sold for demolition, according to brokers.

Canada approves Ksi Lisims LNG project

According to a statement on Monday, Julie Dabrusin, Minister of Environment and Climate Change, issued her decision under the...

Abaxx sees significant volume growth in its LNG futures

Abaxx Commodity Futures Exchange, a wholly owned subsidiary of Abaxx Technologies (CBOE:ABXX) has seen significant volume growth in its physically deliverable LNG futures during the past summer months, according to Abaxx Exchange Chief Commercial Officer Joe Raia.

More News Like This

Japan’s Jera seals Alaska LNG LoI

Glenfarne-led Alaska LNG has signed a letter of intent with Japan's power firm and LNG trader Jera to sell liquefied natural gas to the latter.

Cheniere clinches Botas LNG supply deal

Turkiye’s state-owned natural gas and LNG firm Botas has signed a deal to buy liquefied natural gas from US LNG exporting giant Cheniere. Botas also signed deals with SEFE, Equinor, and jera.

Jera in Montenegro LNG terminal move

Japan's power firm and LNG trader Jera and the government of Montenegro plan to sign a memorandum of understanding on the development of a liquefied natural gas (LNG) terminal and an associated gas-fired power plant.

Cheniere, Jera seal long-term LNG SPA

US LNG exporter Cheniere has signed a long-term LNG sale and purchase agreement with Japan's Jera.