Bloomberg quoted Katsuhiko Onishi, a spokesman for Sumitomo, saying: “Sumitomo will buy the 300-megawatt gas-fired Mid-Georgia project from Atlantic Power Corp. and Northern Star Generation. The acquisition would boost the Tokyo-based company’s total capacity to 5 gigawatts.”
The company’s aim is to increase its capacity to 6.3 gigawatts by 2011, by acquiring stakes and building plants in Asia, the US and the Middle East. Sumitomo plans to tap growth in electricity demand in developing countries, where economic expansion will usher more consumption.
