Maxim pays $311/kW for New England combined cycle plant

16 April 2008 -- Maxim Power Corp. is buying the Pittsfield Generating Co. and its 170 MW power plant in Pittsfield, Mass. from affiliates of GE Energy Financial Services for $52.9 million, or $311/kW.

The facility is a 170 MW combined-cycle, dual-fuel (natural gas or fuel oil) power plant that consists of three combustion turbine generators, three separately fired heat recovery boilers and an extraction/condensation steam turbine generator. The project began commercial generation September 1, 1990.

The purchase is expected to close by early in the third quarter and is subject to approvals by the Federal Energy Regulatory Commission, the U.S. Environmental Protection Agency and other customary closing conditions.

The Pittsfield facility is contracted under a reliability must run agreement with ISO New England until June 1, 2010. The plant is available to provide power to the regional power grid when requested by ISO-NE. Following expiration of the agreement, the facility will be eligible for forward capacity market payments from the ISO-NE, as well as the sale of energy into the day-ahead and real-time energy markets of ISO-NE.

Maxim will own four power plants having a total of 383 MW of generating capacity in this region upon closing this acquisition. These two projects provide additional scale and diversity in Maxim's generating portfolio in the region. Furthermore, Maxim expects operational synergies across the plants given the common technology platform, which will include seven GE Frame 6 combustion turbines, three of which are at the Pittsfield plant.

Sponsored by FLSmidth

Related Articles

Fuel Tech receives air pollution control contracts worth $3.6Mn

Fuel Tech Inc. has received multiple air pollution control (APC) contracts, worth approximately $3.6 million, from customers in China, Europe and the U.S.

Cleaver-Brooks demonstrates the power of total integration at POWER-GEN International

Cleaver-Brooks is showcasing a variety of its full range boilers at booth #1213. Cleaver-Brooks boilers offer the best efficiency with the lowest emissions possible.

Follow Power Engineering on Twitter

Latest News

02-25 Henry Hub Average Natural Gas Spot Prices

02/25 Henry Hub Average Natural Gas Spot Prices

The Henry Hub is the pricing point for natural gas futures contracts traded on the New York M...
 GDF Suez wants Areva to deliver nuclear reactors, wind turbines

GDF Suez wants Areva to deliver nuclear reactors, wind turbines

GDF Suez says it received guarantees from Areva for planned nuclear reactors in Turkey and wi...
 CB&I: We’re not liable for $247mn nuclear power project penalties

CB&I: We’re not liable for $247mn nuclear power project penalties

Chicago Bridge & Iron (CB&I, NYSE: CBI) say they should not be liable for any of the ...
 Siemens upgrades I&C system of GE steam turbines for first time

Siemens upgrades I&C system of GE steam turbines for first time

Siemens (NYSE: SI) received an order to upgrade the instrumentation & controls (I&C) ...
 Weekly Coal Production

Weekly Coal Production

The Weekly Coal Production Report has been updated for the week ended February 21, 2015.

 North Dakota coal production increases 4 percent in 2014

North Dakota coal production increases 4 percent in 2014

North Dakota is known for its booming oil fields, but coal mining in the state also is a heal...
 Spanish company buying US utility serving northeast for $3B

Spanish company buying US utility serving northeast for $3B

Spain's leading electricity and natural gas utility, Iberdrola, says it will buy the northeas...
 Ohio utility regulators reject AEP plan for coal plants

Ohio utility regulators reject AEP plan for coal plants

Ohio utility regulators have rejected an American Electric Power proposal to guarantee profit...

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Product Listings

Boilers

Designs, manufactures, sells, leases and rents ...

Boilers

Designs, manufactures, sells, leases and rents ...

Boilers

Designs, manufactures, sells, leases and rents ...

Consulting Services

Design and analysis of power plant structures i...

Power Industry Wire News

Western Gas to Present at Upcoming Barclays Investment Grade Energy and Pipeline Conference

Western Gas to Present at Upcoming Barclays Investment Grade Energy and Pipeline Confer...

PetroQuest Energy, Integrated Environmental Technologies and Nighthawk Energy Discuss 2015 Strategy in Exclusive Video Interviews With EnerCom's Oil & Gas 360(R)

PetroQuest Energy, Integrated Environmental Technologies and Nighthawk Energy Discuss 2...

SEACOR Holdings Announces Results for Its Year and Fourth Quarter Ended December 31, 2014

SEACOR Holdings Announces Results for Its Year and Fourth Quarter Ended December 31, 2014

Western Gas Partners, LP and Western Gas Equity Partners, LP Annual Reports Available

Western Gas Partners, LP and Western Gas Equity Partners, LP Annual Reports Available

Vivakor Signs MOU to Acquire Oil Sands Designated Leased Property in Utah

Vivakor Signs MOU to Acquire Oil Sands Designated Leased Property in Utah

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>