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.