Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo  >  Sojitz Corp    2768   JP3663900003

SOJITZ CORP (2768)
My previous session
Most popular
  Report  
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets

Sojitz : Acquires Stake in Gas-fired Power Plant in Northeastern U.S.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/06/2017 | 04:39am CET

Sojitz Corporationhas closed the acquisition of a 33.33% equity stake in a natural gas-fired power plant facility ('Birdsboro Power Plant') currently under construction in the northeastern United States near Pennsylvania's Marcellus Shale, pursuant to an agreement with a fund managed by Ares EIF Management, LLC ('Ares EIF'). Ares EIF is a value-add infrastructure investor with extensive experience in the development and management of power plants within the U.S.

The Birdsboro Power Plant will be a combined-cycle generating facility* with total output of 488 megawatts. The project company will purchase state-of-the-art gas and steam turbines manufactured by General Electric International, Inc. ('GE'). The plant is expected to begin commercial operations in spring 2019, at which point it will supply energy to the northeastern United States within the PJM region (originally Pennsylvania-New Jersey-Maryland, now all or parts of 13 states plus the District of Columbia), North America's largest wholesale electricity market. The Birdsboro Power Plant will contribute to filling the void left by a wave of retiring coal and nuclear power generators in the region, and will benefit from low-cost fuel from the Utica and Marcellus shales, the world's most prolific natural gas play. Highly efficient new turbine technology is expected to drive strong and consistent performance.

While Sojitz's power portfolio includes a variety of investments in natural gas-fired power plants in the Middle East, Asia, and South America, this project represents Sojitz's first large-scale power plant investment in the North American market. As demand for large-scale power projects and other infrastructure-related investments in the U.S. rises, Sojitz will make use of its power and energy experience to proactively pursue initiatives in this sector.
(*)Combined-cycle generation-A form of power generation with a combination of gas and steam turbines in order to produce energy more efficiently than a generator configured with only a gas turbine.

Related Information:

Overview of Birdsboro Power Project

Project Name Birdsboro Power
Main Business Sale of electricity and capacity from a natural gas-fired power plant into the PJM marketplace (a regional wholesale electricity market in the northeastern United States)
Project Site Birdsboro, Berks County, Pennsylvania (U.S.)
Ownership Sojitz - 33.33%, Ares EIF - 66.67%
Generation Capacity
(Total Output)
488MW
Key Equipment Gas turbine manufactured by GE (Model: 7HA.02)
Expected Start of Commercial Operations Q2 2019 under EPC contract with Kiewit Corporation

Overview of Ares EIF

Company Name Ares EIF Management, LLC
Location Multiple United States offices including New York, Boston, San Francisco, and Los Angeles
Established 1987
Main Business Ares EIF, formerly known as Energy Investors Funds (EIF), was acquired by Ares Management, LP (a leading global investment manager listed on the New York Stock Exchange) in January 2015. Ares EIF has a 30-year track record and is one of the first managers focused on the independent power and electric utility industry. Ares EIF-managed funds are experienced investors in new-build generation and transmission in the United States having invested in nearly 9,000 gross MW of greenfield projects representing more than $10 billion of capital costs in the United States Power Fund series.

Sojitz Corporation published this content on 06 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 April 2017 02:38:21 UTC.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SOJITZ CORP
12/07Indonesia's Pertamina reaches financial close on $1.8 billion gas power stati..
RE
12/07SOJITZ : Concludes Financing Agreement and Starts Construction on the Jawa 1 Gas..
PU
11/26SOJITZ CORPORATION ANNOUNCES CHANGES : 168.5 kb]
PU
11/23SOJITZ : Fuso Philippines Corporation appointed new General Distributor for FUSO..
AQ
11/22SOJITZ : Establishes Import Distributor for Mitsubishi Fuso-brand Vehicles in th..
PU
11/01SOJITZ : Sponsors Japan Blind Football Association to Support Parasports
PU
10/26SOJITZ CORPORATION ANNOUNCES CHANGES : 174.8 kb]
PU
10/16SOJITZ : joins “IkuBoss Corporate Alliance”
PU
10/06SOJITZ : Fuso opens Kawit dealership
AQ
09/28SOJITZ CORPORATION ANNOUNCES CHANGES : 162.6 kb]
PU
More news
News from SeekingAlpha
05/02Sojitz Corp. 2017 Q4 - Results - Earnings Call Slides 
02/02Sojitz Corp. 2017 Q3 - Results - Earnings Call Slides 
2017Sojitz Corp. 2017 Q3 - Results - Earnings Call Slides 
2016Towle & Co.'s Shopping List For U.S. And Asian Low Price-To-Sales Ratio Deep-.. 
Financials (JPY)
Sales 2019 2 673 B
EBIT 2019 -
Net income 2019 71 200 M
Debt 2019 565 B
Yield 2019 4,13%
P/E ratio 2019 7,30
P/E ratio 2020 7,27
EV / Sales 2019 0,40x
EV / Sales 2020 0,39x
Capitalization 511 B
Chart SOJITZ CORP
Duration : Period :
Sojitz Corp Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SOJITZ CORP
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 448  JPY
Spread / Average Target 9,9%
EPS Revisions
Managers
NameTitle
Masayoshi Fujimoto President, CEO & Representative Director
Yoji Sato Chairman
Seiichi Tanaka CFO, Representative Director, Head-IR & Finance
Shigeru Nishihara Representative Director & Chief Compliance Officer
Takashi Hara Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
SOJITZ CORP16.24%4 528
MITSUBISHI CORP-3.50%43 148
ITOCHU CORP-4.99%28 489
MITSUI & CO LTD-7.60%26 483
SUMITOMO CORP-13.30%18 612
SAMSUNG C&T CORP--.--%17 912