Connecticut NatGas Electric Plant Gets Funding, Construction Soon

Competitive Power Ventures (CPV) and GE Energy Financial Services announced last week they have closed financing on the 785 megawatt CPV Towantic Energy Center in the western Connecticut town of Oxford. Some 16 investors ponied up a combined $753 million and the project, green lighted back in 1999 but on hold until it made sense economically, will now be built. The plant will be powered by clean-burning natural gas. No doubt it will be Marcellus/Utica gas flowing to the plant to power it. The project represents one of the largest private-sector infrastructure projects in the state. And it’s all thanks to shale gas. Here’s the announcement with details…

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