Mitsui Buys 20% Share In NYC Power Plant

Law360, New York (October 31, 2013, 3:17 PM EDT) -- Japanese utility Mitsui & Co is buying 20.6 percent of a $1 billion gas power plant in the New York City borough of Queens  from GDF Suez, the company said Thursday.

GDF Suez remains the 575-megawatt station's biggest stakeholder, with 38 percent ownership, followed by AE Investor with 25 percent, SNC-Lavalin with 12.3 percent and East River with 4.1 percent. The combined-cycle station supplies power to a Con Edison subsidiary, selling it throughout the energy-demanding New York market. The deal further expands Mitsui's presence in the...
To view the full article, register now.