Lakeshore, Manufacturing, and Real Estate

Energy company buying power plant for $93M

May 21, 2018
Print
Text Size:
A A

The U.S. subsidiary of a Japanese company has agreed to purchase a West Michigan power plant.

Osaka Gas USA, part of Osaka Gas Co. Ltd., said it plans to acquire all shares in Michigan Power.

Osaka Gas will purchase the Ludington-based power plant from Wolverine Power Holdings, an affiliate of Rockland Capital in The Woodlands, Texas.

The deal is worth over $93 million, according to a post last month by Reuters.

Michigan Power is a roughly 125-MW natural gas-fired power plant that has been in operation since 1995.

The facility provides electricity to Consumers Energy and also sells steam to a neighboring calcium chloride manufacturing plant on a long-term contractual basis.

Bracewell, a legal firm out of Houston, is representing Wolverine Power Holdings and Rockland Capital. The firm said the transaction is pending government approval.

Recent Articles by Ehren Wynder

Editor's Picks

Comments powered by Disqus