PSEG fossil acquires natural gas-fired power project in Maryland

Caption: The project will be constructed on a 180+ parcel of land formerly used for a sand and gravel mining operation.  The site is located about 1.25 miles north of Brandywine, Maryland.

 

PSEG Fossil, a subsidiary of PSEG Power, acquired a 755-MW combined-cycle natural gas-fired power project in Maryland from Genesis Power LLC and a private equity fund managed by Ares EIF Management LLC.
 
PSEG Power plans to rename the facility PSEG Keys Energy Center and is scheduled to begin construction in 2015. The plant represents an investment of between $825 million and $875 million, and is scheduled to be completed by 2018. It will use two gas-fired turbines and one steam turbine.
 
PSEG Fossil will oversee construction, operate and maintain the plant. SNC – Lavalin Constructors Inc. is the engineering, procurement and construction contractor.

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