Connecticut Siting Council in the US has approved Competitive Power Ventures’s (CPV) plan to develop 785MW CPV Towantic Energy Center at Oxford, which will be fuelled by natural-gas.

The project was initially approved as a 512MW project in 1999, but could not be built due to market conditions.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

In 2012, CPV formed a new partnership with GE Energy Financial Services to redevelop the project.

New England’s grid operator (ISO-New England) had predicted retirement of nearly 10% of the power generation capacity in the region in 2014, which is likely to increase in the future.

"The project was initially approved as a 512MW project in 1999, but could not be built due to market conditions."

The announcement and modifications to the ISO-NE Forward Capacity Market, which allows financing of major infrastructure projects like this one , prompted CPV to start with its efforts to upgrade the project design.

The firm intends to implement GE’s combined-cycle generating technology to boost the efficiency of the project.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Financing for the facility construction is likely to be done during the third quarter of the year, following which construction is scheduled to start by the fourth quarter.

Construction for the project is likely to continue for around 30 months with commercial operations expected to start in 2018.

PV Towantic Energy Center will use natural gas to generate electricity, which will power more than 750,000 homes in Connecticut area.

The centre will use dry-cooling and advanced natural gas turbine and environmental control technology to generate electricity.