Competitive Power Ventures, Marubeni Corporation, Toyota Tsusho & Osaka Gas USA Achieve Commercial Operation at 725 MW CPV St. Charles Energy Center Maryland

SILVER SPRING, Md., March 14, 2017 /PRNewswire/ -- Maryland-based Competitive Power Ventures (CPV) today announced that the 725-megawatt (MW) CPV St. Charles Energy Center in Waldorf, Charles County, Maryland achieved commercial operation. The milestone comes after 30 months of construction and more than three months of rigorous testing.

Located 25 miles southeast of Washington, DC, the CPV St. Charles Energy Center is a state-of-the-art combined-cycle natural gas-fired electric power generating facility using two state-of-the-art reliable, highly efficient GE 7F.05 Gas Turbines and a GE D402 Steam Turbine. The project, managed by Competitive Power Ventures, Inc. and owned by CPV, Marubeni, Toyota Tsusho and Osaka Gas USA, was constructed by SNC Lavalin Constructors Inc. and is being operated by EthosEnergy Power Plant Services, LLC.

"The CPV St. Charles Energy Center improves the regional electric grid reliability with new, efficient, reliable, responsive power, while using recycled water for cooling maximizing water resource utilization and providing a new, potent economic driver for the region," said Gary Lambert, CPV's President and CEO. "Congratulations to all who contributed to bringing this project to fruition, for our investors, stakeholders and host community, all of whom are indispensable to CPV's mission."

The CPV St. Charles Energy Center sells its capacity, energy and ancillary services into the transmission-constrained SWMAAC zone of the PJM market, powering up to 700,000 homes. The benefits of a reliable water supply for efficient wet cooling, as well as the site's proximity to PEPCO 230 kV transmission lines and the Dominion Cove Point natural gas pipeline, make this one of the most cost competitive projects in PJM.

The CPV St. Charles Energy Center enjoys support from the Governor of Maryland, Charles County and many other key stakeholders in Maryland and will provide substantial reliability, economic, and environmental benefits to residents and electric consumers. During the two-and-a-half-year construction process, the project employed upwards of 600 trade workers and 100 management staff. The operating facility employs 24 skilled professionals in well-paying jobs and another 75 jobs are projected to be created to provide plant support. The CPV St. Charles Energy Center is one of the largest taxpayers in Charles County.

"As a source of reliable energy, the completion of CPV St. Charles Energy Center is welcome news for residents and businesses in Southern Maryland," said Governor Larry Hogan. "This new facility will not only create jobs and contribute significantly to Maryland's economy, but it is also one of the cleanest natural gas facilities ever built in this area."

Charles County Commissioner President Peter F. Murphy said, "CPV St. Charles is a welcome addition to Charles County, and we are proud to have one of the most efficient combined-cycle facilities residing within our county." 

"The CPV St. Charles Energy Center is a win-win for Charles County as well as CPV and its investors. Job creation and reliable electricity for the region are much-needed local benefits that all Charles County residents can be grateful for," said Senator Thomas Middleton. "The CPV St. Charles Energy Center will be a substantial contributor to local taxes and an environmental steward utilizing reclaimed water that would otherwise be discharged into the Potomac River and ultimately the Chesapeake Bay."

The CPV St. Charles Energy Center will provide the region with a more economically competitive power source that reduces dependence on older, less efficient power plants and is better for consumers.  The CPV St. Charles Energy Center is one of the most efficient combined-cycle facilities in the PJM region.

"Marubeni is proud to help Maryland shift to a greener mix of power resources, and expects the St. Charles project to provide ongoing benefits to the community in the form of jobs, economic activity and grid reliability. We are also very happy that CPV and the partners succeeded in delivering the project ahead of schedule and under budget," said Hiromichi Mizuno, General Manager, Overseas Power Project Dept.-III, Marubeni Corporation.  

"Congratulations to our long-time partner, CPV, and its dedicated team of professionals for achieving this important milestone," said Shinichi Ushijima, General Manager of Power Project Development Department of Toyota Tsusho Corporation. "This St. Charles project is an excellent example of our focus on developing, building and operating highly-efficient, clean and competitive power plants in key US markets that create jobs, safeguard the environment and provide other community benefits. We look forward to a long and fruitful relationship with CPV, Charles County and community residents."

"Osaka Gas USA takes pride in its participation in the CPV St. Charles project which uses state-of-the-art technology to produce electricity efficiently and cleanly to help meet the region's demand for energy," said Hisaichi Yoneyama, President, Osaka Gas USA. "We are pleased that the project will provide ongoing local community and regional benefits for decades to come."

About Competitive Power Ventures
Competitive Power Ventures (CPV) is dedicated to increasing America's energy sustainability by providing safe, reliable, cost effective and environmentally responsible power generation. Together with our investors, partners, host communities and other key stakeholders we are driven to improve North America's energy infrastructure by building new power generation and optimizing existing facilities using cutting edge, domestically available power technologies. Headquartered in Silver Spring, MD, with offices in Braintree, MA, and San Francisco, CA, the company has successfully developed or monetized 20 projects totaling 11.9 GW of natural gas-fired and renewable generation assets. The company's Asset Management division currently manages 4,847 MW of fossil and renewable generating facilities in eight states for eight different owner groups. For more information: www.cpv.com. Follow CPV on Twitter: @CPVEnergy

About Marubeni Corporation
Marubeni Corporation was founded in 1858 and incorporated in 1949 with its principal office located in Tokyo, Japan. It manages businesses across a wide range of industrial sectors throughout the world, and is a publicly traded company quoted on three stock exchanges in Japan: Tokyo, Osaka, and Nagoya. Marubeni first established its power industry presence through the EPC business, with more than 98GW supplied/constructed all over the world in various fuel and technology types. Marubeni expanded its business into the IPP arena in the early 1990's, and now owns 11.0 GW of net generating capacity. Marubeni manages its electricity sector investments in the North American electricity market through Marubeni Power International, Inc., based in New York, NY. For more information, please visit www.marubeni.com or www.marubeni-power.com  

About Toyota Tsusho Corporation
Toyota Tsusho is a general trading company that develops diversified businesses with customers around the world, through 991 group companies in Japan and overseas, via a global network spanning Japan and approximately 90 countries worldwide. With various activities, the group provides products and services in a broad range of business domains that are essential to achieving the creation of a prosperous and fulfilling society. Toyota Tsusho is listed in the Tokyo Stock Exchange as well as in the Nagoya Stock Exchange. Toyota Tsusho views North America as a focused market for its power business. Toyota Tsusho aims to realize the stable energy supply through the expansion of its power business with various project schemes. Toyota Tsusho is participating in six gas fired electric power projects and five renewable power projects in North America (gross generation capacity is 4,748 MW including 593MW renewable projects through subsidiary company Eurus Energy America, Inc.). Among those, four projects supply those output to wholesale electric markets in the U.S. and the St. Charles Power Plant is the second of these projects to start commercial operations. Toyota Tsusho will continue to promote environmentally friendly power generation in North America through energy efficient systems by using natural gas as well as its renewable energy portfolio. For more information: www.toyota-tsusho.com

About Osaka Gas USA
Osaka Gas USA Corporation (OGUSA) is a wholly owned subsidiary of Osaka Gas Co., Ltd ("Osaka Gas") formed to develop, construct, acquire and manage energy businesses throughout North America. Established in 1897, Osaka Gas has over 100 years of experience in the energy sector and has grown into a diversified energy company, well-positioned across the entire natural gas value chain.  Osaka Gas is a major natural gas and energy service provider serving 7.0 million customers in central Japan.  The Company accounts for approximately 25% of the entire natural gas market in Japan.  Osaka Gas is actively pursuing investment opportunities consistent with its long-term "Field of Dreams 2020" business plan.  As a part of the vision, Osaka Gas plans to deploy $4.4 billion by 2020 in energy assets internationally.

For more information: www.osakagasusa.com

SOURCE Competitive Power Ventures

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