PSEG Power Connecticut announced that it has cleared 485 MWs of Installed Summer Capacity from a new gas-fired combined-cycle power plant in the ISO-New England Forward Capacity Auction. PSEG Power Connecticut expects to begin construction of the clean, natural gas-fired plant in 2017. The plant, which represents an investment of more than US$550 million, is targeted to be completed and supplying needed energy to the Connecticut region for the year beginning June 2019. The plant will be located at PSEG Power Connecticut's existing Bridgeport Harbor Station site.
"This is a true win for Bridgeport – not only adding new clean energy to the grid, but creating jobs, tax revenue, and general economic activity within the region," said Richard P. Lopriore, President of PSEG Fossil. "We look forward to providing reliable energy to Connecticut and the region for many years to come."
The plant will create 350 construction jobs and approximately 20 permanent jobs. The plant mostly will run on natural gas, but also will be able to run on ultra-low-sulfur distillate (ULSD) fuel oil as a back-up fuel.
"We are pleased that PSEG Power will be making further investments in power generation in our city," said Bridgeport Mayor, Joe Ganim. "The new plant will result in jobs and tax-base generation, adding more than US$5 million in additional tax revenue per year to the city."
PSEG Power Connecticut, the City of Bridgeport, and several community groups and environmental organisations also announced that they have agreed to a Community Environmental Benefit Agreement (CEBA) associated with the plant.
The agreement supports the objectives of Connecticut's Environmental Justice Act. Implementing the agreement is conditioned on receiving key permits necessary for construction.
"This is a great example of the City, community groups, and a local business working together for the benefit of all," Ganim said. "Along with PSEG's investment in this power plant and the potential for additional renewable generation, the company will be investing in local civic groups and community projects, as well as charting a course for the future of this significant property that doesn't involve coal. This is a real win for all parties."
"This agreement strengthens PSEG's partnership with the City of Bridgeport and the community," Lopriore said. "We wish to thank Mayor Ganim and his administration, as well as leaders of the community, for helping develop and negotiate this agreement."
PSEG Power Connecticut's Bridgeport Harbor and New Haven Harbor stations are part of PSEG Power LLC's generating fleet.
Edited from press release by Angharad Lock
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/12022016/pseg-power-gas-plant-clears-iso-new-england-forward-capacity-auction-2463/