CHICAGO, Illinois, June 28, 2019 Jackson Generation, LLC. (“Jackson”), the limited liability company vehicle of J-POWER USA Investment Co., Ltd., an affiliate company of J-POWER USA Development Co., Ltd. (“J-POWER USA”), starts the construction of a 1,200 MW natural-gas-fired combined cycle facility planned to be located in Will County, Illinois. J-POWER USA owns 100% interest in Jackson and is the sole developer of the project.
Kiewit Power Constructors Co. (“Kiewit”), a premier builder and provider of energy and engineering services, is the engineering, procurement and construction (EPC) contractor. Mitsubishi Hitachi Power Systems Americas, Inc. (“MHPSA”), an industry-leading global manufacturer of gas-fired turbines, is supplying the power island including its 501 JAC gas turbines and will provide maintenance services for the project.
J-POWER USA and its affiliate companies now have interests in 12 U.S. power generating facilities, totaling approximately 6,500 MW. “The development of the Jackson Project is consistent with our strategy of investing in and developing high quality power generating facilities which connect to reliable power markets, like PJM.” stated Mark Condon, President and CEO of J-POWER USA. “The advanced technology and quality of MHPSA turbines and Kiewit’s vast experience in combined cycle facility construction, combined with J-POWER USA’s record of success in power plant development and operation, will help ensure that Jackson is a reliable generation facility during its operational life. J-POWER USA will continue to look for opportunities to expand its North American power generation business.” Condon continued.
Merit Capital Advisors, LLC and Baker & Mckenzie LLP acted as financial and legal advisors respectively for Jackson.
About J-POWER USA
J-POWER USA Development Co., Ltd. is a wholly owned subsidiary of J-POWER North America Holdings Co., Ltd. which is a wholly owned subsidiary of Electric Power Development Co., Ltd. (“J-POWER”) with headquarters located in Tokyo, Japan. J-POWER USA, headquartered in the greater Chicago area, has a long-term strategy to acquire, develop, finance and operate power generation facilities in North America through its team of power professionals with a proven track record of successfully developing and acquiring power projects in the IPP sector.
J-POWER stock is listed on the Tokyo Stock Exchange. In the fiscal year ending March 2019, J-POWER had revenues of US$8.1 billion and assets of approximately US$24.9 billion. With approximately 25,000 megawatts of net ownership, J-POWER is one of the world’s largest independent generators of electricity, owning 97 power plants in Japan and 37 international IPP investments.