South Field obtains new partner
WELLSVILLE –The company behind the South Field Energy electric plant being built in Yellow Creek Township announced Tuesday it has sold 15 percent membership interest in South Field Energy Partners to ENEOS Power USA, an affiliate of JXTG Nippon Oil and Energy Corp., a leading oil and energy company in Japan. The Boston-based South Field Energy Partners is the 100 percent indirect owner of the 1,182-megawatt natural-gas powered electricity plant under construction north of Wellsville, which will be capable of supplying power to more than one million homes.
The plant is expected to be operating commercially by mid 2021.
“Advanced power is very pleased that JXTG, through its affiliate ENEOS, has chosen to partner with Advanced Power and join the South Field Energy investor group, along with Advanced Power, Bechtel, the Development Bank of Japann, Kyushu Electric Power, NH-Amundi Asset Management, PIA Asset Management, Shikoku Electric Power and Showa Shell Sekiyu,” said Thomas Spang, Advanced Power’s CEO, in a news release.
“This investment by JXTG, one of Japan’s largest oil and gas, energy, metals companies, is another vote of confidence in Advanced Power and South Field Energy, which is designed to be among the cleanest, most efficient and most reliable low-carbon electricity producers of its kind,” he added.