2019-05-07 Toyota Tsusho Corporation to sell shares in Goreway Gas Thermal IPP Project, Canada
Toyota Tsusho Corporation ("Toyota Tsusho") has signed a contract for the sale of entire shares in the Goreway Gas Thermal IPP Project in Ontario, Canada, to Capital Power Corporation, a Canadian power utility with JERA Co., Inc., the joint shareholder. The transaction is expected to be completed around the first quarter of this fiscal year.
Toyota Tsusho has been investing in this power generation project since 2009. It has been selling 875,000 kilowatts of power generated from a natural gas-fueled thermal power plant to the electrical power wholesale market in Ontario. After reviewing its business portfolio, Toyota Tsusho has reached a conclusion to sell its shares.
Toyota Tsusho will continue working to achieve optimal asset and business configurations to suit the changing business environment, aiming to expand its revenue.
Outline of Capital Power Corporation
|Location ||Edmonton, Alberta, Canada |
|Representative ||Brian Vaasjo (President and Chief Executive Officer) |
|Established ||1891 |
|Business Overview ||A major power generator in Canada, owned approximately 5GW of power generation capacity at 25 facilities in North America. Listed on the Toronto Stock Exchange. |
Outline of the Goreway Project
|Name of the Company ||Goreway Power Station Holdings Inc. |
|Investment (Ratio) ||Toyota Tsusho (50) JERA (50) |
|Location ||Suburb of Toronto, Ontario, Canada |
|Generation Capacity ||875MW |
|Generation Type ||Gas combined cycle |
|Commercial Operation ||June 2009 |