Siemens, Macquarie to construct power plant in Lordstown, Ohio

WCN Editorial Team 7 Apr 2016 NORTH AMERICA ENERGY & UTILITIES

Siemens Financial Services (SFS) and Macquarie Infrastructure Partners III (MIP III) have agreed to construct a natural gas-fueled power plant worth more than $800m on a 150-acre property in Lordstown, Ohio.
MIP III and SFS will provide 73% and 27% of the equity investment to help realise the project.
Siemens has been chosen as the turnkey supplier for the 940MW natural gas-fired combined cycle power plant. The company will supply two gas turbines, one steam turbine, two generators as part of the gas turbine packages, one generator as part of the steam turbine package, and an integrated plant control system.
The clean power produced at the Lordstown Energy Centre will be delivered to the PJM market, which serves approximately 800,000 homes. The plant will replace a portion of the more than 18GW of coal-fired generating capacity in the region.
Clean Energy Future, the developer of the project, will retain an interest in the project, which is slated to be operational in summer 2018.
During the development and construction phase, approximately 450 people will be employed in union positions.
A consortium of banks led by Industrial & Commercial Bank of China, Credit Agricole, Bank of America Merrill Lynch and Investec will finance the project with a $445m term debt.
Siemens Power and Gas Division North America sales head and senior vice president John Gibson said: “As we look at the future of power generation in the United States, projects like the Lordstown Energy Center provide an example of how communities can harness cleaner-burning and affordable natural gas to provide efficient and reliable power.”

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