© 2017 The Texas Lawbook.
By Natalie Posgate
(April 25) – Houston lawyer Ram Sunkara of Eversheds Sutherland recently advised Tokyo Gas’ U.S. subsidiary, Tokyo Gas America Ltd., in its first investment in a new-build U.S. power generation facility when it purchased a 33 percent stake in the Birdsboro power generation facility in Pennsylvania.
Tokyo Gas America purchased the ownership interest from funds managed by Ares EIF Management, which will provide day-to-day management of the project. Ares EIF and Sojitz hold the remaining two-thirds of the ownership interests in the project, each owning 33 percent.
The transaction also marks Houston-based Tokyo Gas America’s second investment in the U.S. power generation market.
Construction completion and operation of the Birdsboro plant is expected to occur by mid-2019.
Houston Eversheds Sutherland counsel Benjamin Rajabi also advised on the transaction. It is the first time for Eversheds Sutherland to represent Tokyo Gas.
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