UK Trader Javelin Gets Approval To Buy Stake In US Power Plant

A deal that gives trading house Javelin Global Commodities a stake in an Ohio coal fired power plant received approval from the US Federal Energy Regulatory Commission, according to a July filing.

London-based Javelin, one of the biggest exporters of US coal, will take less than 10% of equity in the Gavin power plant, according to the filing. The rest will be owned by Energy Capital Partners, which is also taking over a clutch of other aging power plants in the US Midwest as part of the same deal.

It’s the first time Javelin — a firm started by former ...