J-POWER USA announces CEO transition

CHICAGO, Dec. 1, 2022 /PRNewswire/ -- J-POWER USA, a leading independent power producer announced today, senior management changes as current President & CEO Mark Condon announced his retirement effective January 1, 2023.

Filling Mark's position will be Paul Peterson currently Vice President of Asset Management and Operations.  Paul will continue to build upon the solid foundation that J-POWER USA has established over the last 17 years of Mark's tenure at the company initially as its CFO and then as its CEO over the last 9 years.

"Paul is an excellent choice to continue J-POWER USA's growth and profitability and has proven himself to be a capable and trusted leader during his 15 years at the company," stated Condon. Peterson will assume the role of President & CEO beginning January 1, 2023.

"I am honored and excited to be named the next President & CEO of the company and want to thank Mark for his many contributions during his time leading J-POWER USA," stated Peterson. "I believe our portfolio of power generation assets and the team is well situated to participate in the energy transition taking place within our industry and look forward to the challenges and opportunities ahead."

J-POWER USA is a wholly owned subsidiary of J-POWER North America Holdings Co., Ltd. which is a wholly owned subsidiary of Electric Power Development Co., Ltd. ("J-POWER") with headquarters located in Tokyo, Japan. J-POWER USA, headquartered in the greater Chicago area, has a long-term strategy to acquire, develop, finance, and operate power generation facilities in North America through its team of power professionals with a proven track record of successfully developing and acquiring power projects in the IPP sector. 

J-POWER stock is listed on the Tokyo Stock Exchange. In the fiscal year ending March 2022, J-POWER had revenues of US$8.9 billion and assets of approximately US$25.1 billion. With approximately 26,000 megawatts of net ownership, J-POWER is one of the world's largest independent generators of electricity, owning 96 power plants in Japan and 35 international IPP investments.

SOURCE J-POWER USA Development Co., Ltd.