Competitive Power Ventures Sells Partial Stake in Towantic Energy Center

Written By: Jen Neville
December 25, 2018

power generation

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Competitive Power Ventures recently finalized the sale of 25 percent of its ownership interests in the CPV Towantic Energy Center to Osaka Gas USA. CPV and OGUSA have a shared commitment to developing, constructing and managing new, state-of-the-art power generation facilities in the United States to help meet the demands for reliable, affordable energy.

CPV Towantic is an 805-megawatt dual-fuel, combined-cycle electric generating facility operating in Oxford, Connecticut. The facility, which supplies enough electricity to power more than 800,000 homes, is designed with advanced air-cooling technology which reduces water usage by approximately 85% compared to traditional facilities.

This latest investment in CPV Towantic by OGUSA is the fourth one the company has made in a project developed and sponsored by CPV entities. The others include CPV St. Charles Energy Center in Maryland, CPV Woodbridge Energy Center in New Jersey, and CPV Fairview Energy Center in Pennsylvania.

“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,” stated Tetsushi Ikuta, President, OGUSA.

“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,” added 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 will ensure reliable, locally generated power for years to come.

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