ST. CHARLES, Md., Dec. 17 /PRNewswire/ -- Competitive Power Ventures
(CPV) has filed permit applications with the Maryland Department of Natural
Resources (DNR) to construct a new natural gas power plant in Charles
County. The 640 megawatt state-of-the-art facility, called CPV St. Charles,
would help secure the region's supply of energy and be one of the cleanest
natural gas plants ever licensed in Maryland.
"We have three primary goals in mind in bringing this state-of-the-art
facility to Maryland: to offer reliable and secure energy to the region, to
produce this energy in an environmentally sound way, and to forge a strong
partnership with the community where we will operate," said Doug Egan, CPV
Chairman and Chief Executive Officer. "As a Maryland-based company, it is
an exciting opportunity for CPV to help secure the state's energy supply
needs and keep electricity costs low for area consumers."
The permits for the new CPV St. Charles power plant, filed Friday
afternoon by CPV Maryland LLC, were submitted shortly after the release of
a report by the Maryland Public Service Commission warning of a critical
shortage in Maryland's electricity capacity that could lead to rolling
blackouts as early as 2011. The report noted the benefits of adding
additional power generation, especially natural gas generation, in the
state as a way to address this issue.
CPV St. Charles would provide power to roughly 600,000 homes using
clean-burning natural gas, a fuel that is significantly cleaner than the
coal that currently powers the majority of plants in the region. Moreover,
by increasing the supply of energy to the region, the plant would help hold
down electricity costs.
The company would be one of the largest tax payers in the county.
During construction, 350 to 400 jobs would be created, with a strong focus
on hiring these skilled laborers locally. Once fully functional, 25
full-time employees would be needed to operate the facility and would earn
an average salary of $55,000.
CPV St. Charles would utilize cutting-edge technologies to eliminate
the need for groundwater in its cooling processes. CPV has a preference to
use reclaimed water in a wet cooling process, which would efficiently
recycle at its peak 4.5 million gallons per day of treated wastewater from
the Mattawoman Wastewater Treatment Plant that would normally be
distributed into area waterways. The company's permit application also
seeks the flexibility to use instead a dry cooling process that requires no
water for the cooling process.
"An incredible amount of thought has gone into the planning of CPV St.
Charles - from the processes the facility will use to its precise location
in the county - to ensure it is beneficial to the State of Maryland,
Charles County, and area residents," said Sharon Segner, the CPV St.
Charles Project Director. "This project will bring increased energy
security for the state and region, greater economic benefits for the
county, and lower electricity rates for local residents - all with limited
impact on the environment. We welcome input and comments as we move forward
with the permitting process for this plant."
CPV St. Charles will be located in an industrial zone on land
previously permitted for a power plant. The facility will be situated on a
77-acre site, between an asphalt plant and a landfill, and in proximity to
an existing power line, eliminating the need to construct new power lines.
CPV entered into a purchase agreement for the site with American
Community Properties Trust, the current property owner and developer of St.
Charles. Additionally, CPV has obtained priority rights to tie the plant
directly into the region's power grid, giving CPV St. Charles a time and
cost advantage over other proposed new power plants in the metropolitan
Washington DC area.
After a thorough environmental review and the issuance of all necessary
local, state and federal permits, construction on CPV St. Charles is
targeted to begin in early 2009 and be completed in 2011.
About Competitive Power Ventures
CPV Maryland, LLC is a wholly-owned subsidiary of Competitive Power
Ventures. Established in 1999, Competitive Power Ventures is a North
American power industry development and asset management company. In
addition to its Silver Spring, Maryland headquarters, CPV has offices in
Boston and San Francisco. The company's development professionals have
played critical roles in the successful development of more than 30 power
plants, representing over 15,000 megawatts of currently operational power
generation capacity. CPV is majority owned by Warburg Pincus. For more
information, visit www.cpv.com.
SOURCE Competitive Power Ventures, Inc.