Lordstown natural gas fueled power plant to be in service by mid-2018
Monday, April 11, 2016
Now that funding has been secured, construction is set to begin on the $890 million Lordstown Energy Center. Excavation has already begun to clear the 17-acre site.
The Business Journal reports that the 940-megawatt natural gas-fueled power plant will be able to power about 800,000 homes. The plant is expected to be in operation by mid-2018 and will employ 20 people. There should be about 450 jobs during the construction process.
Clean Energy Future, LLC, is the developer of the project, according to the source. A consortium of lenders will provide $445 million term debt to fund construction of the plant. Other financial services will provide equity funding for the cost of the plant.
Read more: The Business Journal > Financing Secured, Work Begins on Power Plant
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