When complete, the plant will generate enough electricity to power the equivalent of about 800,000 U.S. homes. Fueled primarily by natural gas, the plant will also use ultra-low sulfur distillate as a backup fuel.
The Towantic project was originally approved by the Connecticut Siting Council in 1999, but plans fell through due to market conditions. In 2012, CPV entered into partnership with GE Energy Financial Services to advance the project and its competitiveness in the marketplace.
Working with both GE Financial Services and GE Power, the $753 million project will rely on 16 participating lenders for financing and represent one of the largest private-sector infrastructure projects in Connecticut.
Gemma Power Systems will serve as the EPC contractor for the project.