Located in Charles County, Maryland, the plant will deliver electricity via the wholesale power market, PJM.
Marubeni will hold 50% ownership interest in the plant and Toyota Tsusho will own 25% stake. The remaining 25% interest in the plant will be held by the US-based company CPV Power Development.
Construction work is expected to commence later in August 2014, with commercial operations planned to start in 2017.
The St. Charles project is expected to replace several retiring coal-fired and nuclear power plants in the US and contribute to the stable energy supply in the country’s capital city region.
Marubeni said it views North America as one of the important markets in its power business operations.
The company participated in several clean energy developments including gas-fired power and renewable power generation projects.
Marubeni’s portfolio includes 35,419MW of gross and 10,961MW of net generation assets worldwide.
The St. Charles project is the second project for Toyota Tsusho to participate in the PJM wholesale market. The company has been partnering with CPV Power in a project in New Jersey since 2013.
