Transaction Expands Tenaska and Tyr Relationship and Strengthens Asset Value Across PJM, SPP and ERCOT
HOUSTON, Sept. 19, 2025 /PRNewswire/ -- JERA Americas, Tenaska and Tyr Energy today jointly announced the completion of the share transfer of JERA Americas' equity interests in three gas-fueled power plants to Tenaska and Tyr. The transaction closed Monday, Sept. 15.
"This transaction marks an important step in JERA Americas' strategy to optimize our portfolio for future growth," said Elijah Smith, JERA Americas' senior vice president of M&A. "We are committed to reinvesting in assets that align with the evolving energy landscape and drive growth."
The facilities in the transaction have a combined generating capacity of 3,005 megawatts (MW) and serve critical power markets across the United States. Together, these plants provide efficient, reliable electricity to hundreds of thousands of homes and businesses. Facilities include:
"Expanding our ownership is consistent with Tenaska's strategy to deploy capital by investing in well-positioned generating assets," said Dave Kirkwood, Tenaska senior vice president, head of capital deployment and finance. "We look forward to building upon our existing relationship with Tyr as we continue to provide reliable power in PJM, SPP and ERCOT. We thank JERA Americas for their support over the years."
Echoing Kirkwood's sentiment about the transaction, Kevin Calhoon, Tyr executive vice president of asset management and strategy, underscored the importance of the new framework.
"We're pleased to work with JERA Americas and Tenaska on this transaction and appreciate the collaboration throughout the process," said Calhoon. "This acquisition reflects our commitment to investing in high-quality assets that align with the future of energy."
About JERA Americas
JERA Americas is a large-scale power generation company that provides sustainable, affordable, and stable energy across the United States. We are a leader in lower-carbon fuels projects, including LNG, clean hydrogen, and ammonia for the U.S. and global markets. Headquartered in Houston, JERA Americas is the U.S. subsidiary of Tokyo-based JERA (Japan's Energy for a New Era) which provides about 30% of Japan's electricity. JERA is one of the largest energy providers and LNG buyers in the world. Read more at jeraamericas.com.
About Tyr
Headquartered in Overland Park, Kansas, Tyr is an owner, manager, and developer of North American independent power projects. Since its inception in 2003, Tyr has developed and invested in more than 40 power projects in the United States, including 12 investments in wind and solar assets. Tyr, through its wholly owned subsidiary, Tyr Energy Development Renewables, LLC, is currently developing a portfolio of solar and battery storage projects with a total capacity of more than 4 gigawatts (GW). Tyr is also an affiliate of NAES Corp., the world's largest independent O&M provider, which operates approximately 250 thermal power plants with a capacity of 63 GW, as well as approximately 1,400 solar power facilities with a capacity of 2 GW.
About Tenaska
Tenaska is a leading energy company with business operations that span the energy value chain. Tenaska Marketing Ventures (TMV) and Tenaska Power Services Co. (TPS) are among the largest natural gas and electric power marketing companies in North America. The company has an operating fleet of 7,482 megawatts (MW) of natural gas and renewable generating facilities and has developed, managed and/or operated more than 23,000 MW of natural gas-fueled and renewable generation. Tenaska is also advancing more than 9,000 MW of natural gas-fueled generation and a portfolio of energy storage projects. For more information, visit Tenaska.com.
SOURCE JERA Americas, Inc
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