Tyr Energy, Inc. (“Tyr Energy”), a subsidiary of ITOCHU Corporation, announced today that it has acquired 100% of the equity interest in Hickory Run Energy, LLC (“Hickory Run”), for development of a highly efficient natural gas-fired combined cycle power plant with an electric generating capacity of up to 1,000 MW located in Lawrence County, Pennsylvania.
Originally developed by an affiliate of LS Power Associates, LP (“LS Power”), the project is ideally situated among the Marcellus and Utica natural gas production areas with access to Tennessee Gas Pipeline Zone 4. When the project is complete, electricity and associated products generated by Hickory Run will be delivered in the PJM Interconnection.
“We are pleased to acquire the Hickory Run project, which is well into development and will be an important addition to our portfolio upon completion,” said Tyr CFO Garry Venteicher. He added, “Tyr Energy looks forward to working with the local community, our business partners and other stakeholders to bring this project on line.”
About Tyr Energy, Inc.
Based in Overland Park, Kansas, Tyr Energy, Inc. is wholly-owned by ITOCHU Corp. and ITOCHU International Inc. Tyr Energy represents the North American cornerstone of the ITOCHU global Independent Power Projects (IPP) strategy. The company and its affiliates own equity interests in 12 IPP’s located in Alabama, Colorado, Georgia, Idaho, Minnesota, Oklahoma, Oregon, Texas, Virginia and Wisconsin, with total gross capacity of over 7,000 MW. Tyr Energy is also leading development of the Good Spring project in Eastern Pennsylvania. For more information, visit www.tyrenergy.com.