IHI Power Services Corp. Signs Deal With Sunnyside Cogeneration Associates

IPSC Secures Asset Management and O&M Services Contract for Utah-based Coal-Fired Energy Generation Facility

IHI Power Services Corp. (IPSC), a leading owner and operator of power plants across the U.S., today announced it has teamed up with Sunnyside Cogeneration Associates (SCA) to provide operations and maintenance (O&M) and asset management services for Sunnyside Power Plant, a waste coal-fired power generation facility in Carbon County, Utah. This prominent addition to IPSC's burgeoning portfolio emphasizes the company's commitment to shaping the landscape of sustainable energy solutions.

SCA is currently owned by Panamint Capital, a woman-led energy investment group based in Incline Village, Nevada. Panamint’s fruitful relationship with IPSC began in 2021 after tapping the owner and operator to provide O&M services for its Las Vegas-based Nevada Cogeneration Associate No. 2 facility and Cottage Grove Cogeneration plant just outside of Minneapolis.

“With yet another exceptional addition to our growing partnership with the phenomenal team at Panamint Capital, I am proud to welcome the Sunnyside Power Plant crew to the IPSC family,” said John Keller, president and CEO at IPSC. “We are eager to lend our support, services and industry expertise to this project and have no doubt our work together will drive strong and lasting outcomes.”

After launching operations in May 1993, the Sunnyside Power Plant quickly established itself as a pivotal player throughout the energy sector. With a notable legacy of supplying electricity to PacifiCorp, the facility’s significance resonates far beyond its state-of-the-art infrastructure. Having held the distinction of both a small power production location and a qualifying plant under the Public Utility Regulatory Policy Act of 1978 (PURPA), the facility embodies technological prowess and regulatory compliance.

“IPSC has a unique and unrivaled approach to power plant ownership and operations, and its full suite of services and deep industry expertise are invaluable assets to our overall energy investment strategy,” said Panamint Capital Founder and CEO, Apolka Totth. “The immeasurable success we’ve already experienced in our initial work together has provided us with great confidence in IPSC’s unmatched capabilities and I look forward to seeing what we’ll achieve together next with this new and prosperous partnership.”

As IPSC assumes stewardship of the Sunnyside Power Plant, a fresh start begins. The synergy of industry leadership, innovation and environmental responsibility promises incredible opportunities and a strong future for both companies, the Carbon County community and the global power generation sector as a whole.

To learn more, visit: www.ihipower.com.

ABOUT IPSC: IHI Power Services Corp. (IPSC) is a leading power plant owner and operator specifically formed to provide operations, maintenance, management and support services to the U.S. power generation industry by its Tokyo-based parent company, IHI Corporation, a heavy industrial manufacturing and services company active in several industries, including aerospace, shipbuilding, power generation and more. The organization delivers value-added services based on years of hands-on experience in the power generation sector. As an owner and operator, IPSC and its team of nearly 700 employees understand that minimizing operational risks and maximizing asset value while maintaining a safe work setting that is environmentally compliant is key to the success of every facility. By instituting proven programs and industry-best practices while upholding its guiding principles of growth, respect, accountability, integrity and lack of limitation, IPSC provides world-class service to each of nearly 50 facilities and 15 gigawatts under its management. For more information, visit www.ihipower.com and follow IPSC on LinkedIn.

ABOUT SUNNYSIDE COGENERATION ASSOCIATES: Sunnyside Cogeneration Associates (SCA) is the operating company of the Sunnyside power plant, a 51 MW waste coal-fired power project located in Carbon County, Utah. For more information, visit www.panamintcapital.com.

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