The station was sold to each of Chubu Electric Power Goreway, a wholly-owned subsidiary of Chubu Electric Power Company (Chubu), and Toyota Tsusho Goreway Netherlands, a wholly-owned subsidiary of Toyota Tsusho (TTC).
Sithe Goreway Luxco is expected to retain a 50% stake in the Goreway Station and Sithe Global’s Canadian operating services affiliate would continue to provide operations and maintenance services to the project. The project’s “accelerated clean energy” supply contract with the Ontario Power Authority (OPA) and its existing debt financing arrangements are unaffected by the transaction.
The Goreway plant incorporates gas turbines, selective catalytic reduction for the reduction of emissions of nitrogen oxides and an air-cooled condenser which, when compared to conventional cooling towers, reduces the facility’s water consumption by around 95% and eliminates associated concerns with icing, fogging and visual impacts.
Sithe Global has a portfolio of power plant projects, including approximately 2,850MW of conventional and alternative energy projects in the US and approximately 4,000MW of similar projects under development in other international markets, including the 250MW Bujagali hydroelectric project in Uganda, a private energy investments in Sub-Saharan Africa, which is under construction.
