Readers could have seen your ad here when reading this story. Email
       Events        Jobs        Contact        Migration Stats        Supplier Lists        Municipal Aggregation

PSEG Power Acquires Merchant Generation Project

June 17,2015

PSEG Power, through its wholly-owned subsidiary PSEG Fossil, has acquired the 755-MW combined-cycle Keys Energy Center project from Genesis Power, LLC and an energy-focused private equity fund managed by Ares EIF Management, LLC.

The project is located in Prince George's County, Maryland and will feature two gas-fired turbines and one steam turbine.

PSEG Power – an independent power producer and subsidiary of PSEG – expects to begin construction of the natural gas-fired, combined-cycle plant in 2015. The plant, which represents an investment of $825 - $875 million, is targeted to be completed and supplying needed capacity and energy to the state of Maryland and region in 2018. The project was bid into and cleared the PJM capacity auction in May 2014.

"The new plant offers a strong operational and financial fit for PSEG Power's balanced generation portfolio and will expand our footprint in our core PJM market," said Bill Levis, PSEG Power president and COO.

PSEG   PSEG Power   Maryland   Genesis Power   Ares EIF Management  

Comment on this story

NEW Jobs on
Business-Development-Manager -- Retail Supplier -- Texas - Houston
Business-Development-Manager -- Agent, Broker, Consultant -- New Jersey
Energy-Sales-Broker -- Agent, Broker, Consultant -- Pennsylvania
Retail-Energy-Channel-Manager -- Retail Supplier -- New York
Chief-Operating-Officer -- Retail Supplier -- New York

More Stories on
Solar Developer Says Maryland Utility Incorrectly Calculating Community Solar Compensation
Maryland General Assembly Passes 50% RPS Bill
Maryland Lawmakers Seek Introduction Of Opt-Out Municipal Aggregation, File Bill
Maryland Utility Proceeding With Installation Of Utility-Owned EV Charging Stations For Public Use
PSEG Reports Results For Competitive Power Segment

comments powered by Disqus

Advertise here:

Events Jobs Contact Migration Stats Supplier Lists Municipal Aggregation

About Disclaimer Privacy Terms of Service


Developed by: Avidweb Technologies inc.