Leading Clean Energy CEO, Governor Raimondo Join In Announcing State-of-the-Art Clean Power Project; Key Piece of Solution To Rhode Island Energy Challenges
Clear River Energy Center will fill help meet the region’s energy needs;result in $280 million in electric rate savings;create more than 300 full-time construction jobs;and bring cleaner, healthier air to Rhode Island
PROVIDENCE, R.I., AUGUST 4, 2015 – Michael Polsky, president, founder, andCEO of leading clean energy developer and operator Invenergy, was joined byRhode Island Governor Gina M. Raimondo and other state and local leaders onTuesday to announce plans for the Clear River Energy Center, a “state-of-the-art” natural gas-fueled power generation facility in Burrillville. The project will playa major role in addressing energy reliability and affordability challenges due inpart from aging coal and oil plant retirements, and is projected to result in $280million in cumulative savings for Rhode Island consumers.
“The construction of this clean energy generation facility will create hundreds ofjobs while delivering more affordable and reliable energy to our businesses andhomes,” said Governor Gina M. Raimondo. “We are tackling our regional energychallenges, committing to cleaner energy systems in the long-term, and puttingRhode Islanders back to work."
“Invenergy is excited about investing in Rhode Island and being part of thesolution to energy challenges in the state and region,” Polsky said. “GovernorRaimondo has shown great leadership in working towards clean, affordable,reliable energy in the Ocean State, and the Clear River Energy Center will deliverjust that.”
Invenergy plans to invest more than $700 million in the new facility, which wouldgenerate an overall economic impact to Rhode Island’s economy of $1.3 billionbetween 2016-2034. Facility construction would create more than 300 jobs forlocal workers, and once operational, it would employ 25 permanent skilledemployees with total annual payroll of $3.5 million.
“The Clear River Energy Center will create hundreds of well-paying constructionjobs, exactly the type of work our local tradesmen and women need,”said Michael F. Sabitoni, President of the Rhode Island Building andConstruction Trades Council. “Rhode Island’s workforce is ready to help buildthis project and to bring new energy to the region.”
The Clear River Energy Center will be the most efficient natural gas-fired energyfacility in New England. Using the world’s most advanced power generationtechnology, the project will address the region’s energy needs by adding morethan 900 megawatts (MW) of clean, domestic electricity to the regional grid.
Project Details
The Clear River Energy Center will provide critical electric rate savings andincreased reliability for Rhode Island families and businesses; deliver jobs andeconomic benefits to workers and communities; and bring cleaner energy andhealthier air to Rhode Island. Benefits will include:
Electric rate savings and increased reliability: Rhode Island customersalready pay the fifth highest retail electric rates in the country, and withNew England’s regional electric grid facing the retirement of approximately6,000 MW of aging power plants, keeping rates in check presents a majorchallenge. The Clear River Energy Center will add more than 900 MW ofnew, cleaner energy to the regional grid. By displacing older, inefficientplants, Clear River is projected to save ratepayers $280 million incumulative savings between 2019 and 2022. Additionally, the project willallow ISO-NE to meet the current capacity shortage forecasted for theRhode Island zone of the regional grid.
Jobs and Economic Benefits: The $700+ million project will be RhodeIsland’s largest energy project in decades. The Clear River Energy Centerwill create more than 300 local construction jobs, and, when operational,employ 25 full-time staff members. The project will contribute more than$3.5 million annually to the local economy in employee salaries. ForBurrillville, the project will generate millions of dollars annually in new taxrevenue, which can be used to support schools, libraries, police and fireservices. Since the facility will have little-to-no impact on town services,the economic benefits should help reduce the property tax burden forhomeowners for decades to come.
Clear River will also invest in well treatment and system upgrades, whichshould help the 1,200 water customers of the Pascoag Utility District bycontracting on a long-term basis for industrial water supply. Plans for theClear River Energy Center involve using water from two Pascoag UtilityDistrict wells that have been unusable since deemed contaminated in2001. The Clear River Energy Center will pay for these wells to bereactivated and cleaned up over time.
Cleaner energy and healthier air: By enabling the transition away fromolder, less-efficient, and polluting coal and oil plants, Clear River will loweremissions of harmful pollutants in the region by the following amountseach year:
Carbon Dioxide (CO2): by 913,000 tons
Nitrogen Oxides (NOx): by 1,993 tons
Sulphur Oxides (SOx): by 2,702 tons.
With fast start ability and the flexibility to vary energy production ondemand, natural gas plants like the Clear River Energy centercomplement renewable energy technologies that vary output based onchanges in wind speed and sunlight.
By reducing harmful carbon emissions and supporting the growth ofrenewable energy, the Clear River Energy Center will significantlycontribute to Rhode Island meeting its Clean Power Plan goals.
Once approved by state and local regulators, construction on the Clear RiverEnergy Center is scheduled to begin in the fourth quarter of 2016, withcommercial operations expected by the summer of 2019.
The plant will be owned and operated by Invenergy, a leading clean energycompany that has developed more than 9,000 MW of utility-scale wind, solar, and natural gas-fueled power generation and energy storage facilities in the United States, Canada, and Europe. This includes seven natural gas-fueled power generation projects in operation and construction, with a total capacity of more than 3,100 MW.
The Clear River Energy Center will propose connecting to the New England ISO.Currently, the project’s permit applications are being prepared for submittal to theRhode Island Department of Environmental Management, the state’s EnergyFacility Siting Board, and the Town of Burrillville.
Invenergy currently is reviewing potential offtake opportunities for the project.
About Invenergy
Invenergy and its affiliated companies develop, own and operate large-scalerenewable generation and clean energy storage facilities in North America andEurope. Invenergy is North America’s largest independent wind powergeneration company, with its home office is in Chicago and regional developmentoffices in the United States, Canada, Europe, Japan, and Mexico. For moreinformation, please visit www.invenergyllc.com.
Contact: Alissa Krinsky, Director of CommunicationsInvenergy312-582-1554akrinsky@invenergyllc.com