Independent generation investor Competitive Power Ventures has sold a quarter of its ownership stake in a Connecticut gas turbine combined-cycle plant to the U.S. subsidiary of Japan’s Osaka Gas Co.
U.S.-based CPV finalized the sale of 25 percent in the 805-MW CPV Towantic Energy Center in Oxford, CT. The buyer is Osaka Gas USA, which previously bought stakes in three other CPV gas plants.
“OGUSA is pleased to partner again with CPV on another exceptional power project, this time serving the ISO-New England wholesale electricity market. Our thriving partnership with CPV has been instrumental in expanding our generation footprint in the U.S. power markets,” said Tetsushi Ikuta, President, OGUSA.
Osaka Gas USA previously bought stakes in CPV’s St. Charles Energy Center in Maryland, Woodbridge Energy Center in New Jersey and Fairview Energy Center in Pennsylvania. Together with Towantic, those four projects total close to 3,200 MW in generation capacity.
“OGUSA has been an outstanding partner with us now in four CPV generating facilities. We are proud to partner with them to provide safe, reliable, cost effective and environmentally responsible power generation in the United States,” said CPV’s CEO Gary Lambert.
CPV Towantic sells its capacity, energy and ancillary services into the ISO New England market. The site’s proximity to natural gas from the Algonquin Interstate Pipeline and the Connecticut Light & Power 115kV circuit between Baldwin Junction and Beacon Falls is seen as key to the project.
The CPV Towantic project began commercial operations earlier this year. It was constructed by Gemma Power Systems and is being operated by NAES Corp.
(Rod Walton is content manager for PowerGen International and Power Engineering. He can be reached at 918-831-9177 and [email protected]).
Gas-fired technologies will be a key feature of the content at the next PowerGen, scheduled Nov. 19-21, 2019 in New Orleans.