TOKYO, Oct 31 (Reuters) - Japan's Electric Power

Development ( EPWDF ) (J-Power) said on Thursday it has decided

to sell its 50% stake in a U.S. gas-fired power company as part

of a reshuffle of its assets portfolio to improve capital

efficiency.

The Japanese utility will sell the stake, held by U.S.

subsidiaries, in Tenaska Frontier Partners which operates an 830

megawatt (MW) gas-fired power station in Texas to investment

fund ACR IV Frontier Holdings for $155 million.

J-Power expects to book $93 million in investment income

upon the transfer, though it is unclear if this will be

reflected in the current or next fiscal year, the company said.

In June, J-Power said it would divest its 50% stake in

another U.S. gas-fired power generator, Green Country Energy,

which operates a 795-MW gas power station in Oklahoma, selling

it to Public Service Company of Oklahoma, a subsidiary of

American Electric Power, for an undisclosed sum.

"Under the current mid-term management plan, we aim to shift

our portfolio to renewable energy, and these are part of our

efforts," Executive Vice President Isshu Kurata told a news

conference.

J-Power on Thursday reported a net profit of 48.34 billion

yen for the April-September quarter, up 74% from a year earlier,

driven by higher margins in its power generation business at

home.

The company lifted its net profit forecast for the fiscal

year to March 2025 by 52% to 64 billion yen, pointing to

stronger gains in its thermal power business and a higher

contribution from its stake in Australian coal mines due to

firmer-than-anticipated coal prices.