US-based NTE Energy intends to build and operate a natural gas-fired combined cycle facility, with an investment of $450m, in Cleveland County, North Carolina.
The Kings Mountain Energy Center will produce enough electricity to power around 400,000 homes.
Mitsubishi Hitachi Power Systems Americas will supply power generation equipment for the project.
The 480MW project will feature a M501GAC advanced combustion turbine and a Mitsubishi steam turbine in combined cycle configuration.
NTE Energy president Seth Shortlidge said that the Kings Mountain Energy Center will become a part of the solution for producing clean, reliable and efficient electricity in the Carolinas.
In an effort to begin construction works in 2015, the company has started the permitting process and submitted its transmission interconnection request with Duke Energy Carolinas.
The project's construction phase will create around 300 construction industry jobs that are expected to be filled by members of the local community.
Upon completion, the project is slated to add approximately 25 - 30 full-time jobs to the Cleveland County area.
The project is expected to become fully operational in 2018.
In addition to this, the company is also developing the Pecan Creek Energy Center in Texas and the Middletown Energy Center in Ohio.