Competitive Power Ventures (CPV), ArcLight Capital Partners and Toyota Tsusho have commenced construction of the CPV Woodbridge Energy Center, a 700MW natural gas-fuelled combined-cycle power generation facility, in New Jersey.
Spanning across 25 - 40 acres in Woodbridge Township on the site of an abandoned chemical plant, the project is expected to be operational in the first quarter of 2016 and will generate enough electricity to power 700,000 homes.
In September 2013, CPV, GE Energy Financial Services and ArcLight closed financing for the $842m project.
GE was awarded a contract valued at $260m to provide a FlexEfficiency 60 combined-cycle engineered equipment package and engineering services and signed a 16-year contractual services agreement for the project.
The package features two fast-start 216MW 7F 5-series gas turbine generators, a D-11A steam turbine generator in a "2x1" configuration and two duct-fired, triple-pressure reheat heat recovery steam generators.
GE will manufacture two fast-start 7F-5 gas turbines at its facility in Greenville, South Carolina, and a D-11A steam turbine and three electric generators at Schenectady, the New York facility.
CPV chairman and CEO Doug Egan said the project, which is to be operated by an affiliate of co-owner ArcLight, is likely to create 500 construction jobs, with an expected payroll of $50m, and 25 permanent jobs for operations, with an estimated payroll of $3.5m.
The project is likely to sell its output through 15-year standard offer capacity agreements with New Jersey utilities, and energy through a hedge.
The developers expect to connect the project to the national grid through either Public Service Enterprise Group's Metuchen substation, around two miles away, or Jersey Central Power and Light's Raritan River substation, around three miles away from the site.
Image: CPV Woodbridge Energy Center will feature FlexEfficiency 60 combined-cycle power plant. Photo: courtesy of General Electric Company.