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Japan’s IHI Buys Stakes in California Power Plants From Exelon

Aug. 21 (Bloomberg) -- IHI Corp. a Japanese maker of heavy machinery, acquired as much as 50 percent stakes in five power plants in California from Exelon Corp.

IHI bought shares in three biomass power plants and two coal-fired stations, which the company plans to convert to biomass, IHI said in a statement today without disclosing any financial details.

The two coal-fired plants are Rio Bravo Jasmin and Rio Bravo Poso stations, each with a capacity of 33 megawatts, according to the statement.

The rest of the plants, all biomass, are the 25-megawatt Chinese Station, Rio Bravo Rocklin and Rio Bravo Fresno, both with 28 megawatts of capacity, the statement said.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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