Tyr Energy, Inc. acquires Hickory Run Energy Development Project

Tyr Energy, Inc., a subsidiary of ITOCHU Corporation, has acquired 100% of the equity interest in Hickory Run Energy, LLC, 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 (USA).

Originally developed by an affiliate of LS Power Associates, LP, the project is 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 will be delivered in the PJM Interconnection.

Garry Venteicher, Tyr CFO said:

"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. Tyr Energy looks forward to working with the local community, our business partners and other stakeholders to bring this project on line."

In late April, we reported that Invenergy LLC held a groundbreaking ceremony for the Lackawanna Energy Center (LEC) in Jessup, Pennsylvania, which will be one of the most efficient power plants in the United States. LEC will develop 1500 MW with it's highest-efficiency combustion turbines.