CPV Hosts Governor Of Maryland, Ambassador Of Japan, and Local Officials For Ribbon-Cutting To Celebrate New Electric Power Generation Facility Coming Online

CPV St. Charles Energy Center in Waldorf, MD is now providing substantial reliability, economic, and environmental benefits to residents and electric consumersy

Silver Spring, MD — June 13, 2017 — Today, Competitive Power Ventures (CPV) celebrates with its partners and government officials their impressive accomplishment of bringing a new electric power generation facility online in Waldorf, MD. Guest speakers for today’s dedication ceremony and ribbon-cutting include: Governor of Maryland Larry Hogan; Ambassador of Japan Kenichiro Sasae; Maryland Senator Thomas “Mac” Middleton (D-Charles County, District 28); Delegate Sally Y. Jameson (D-Charles County, District 28); and, Charles County Commissioners’ President Peter Murphy.

Located 25 miles southeast of Washington, DC, the CPV St. Charles Energy Center (the Center) is a 725-megawatt (MW) facility that will power up to 700,000 homes. The project, managed by CPV and owned by CPV, Marubeni, Toyota Tsusho and Osaka Gas USA, was constructed by SNC Lavalin Constructors Inc. and is being operated by EthosEnergy Power Plant Services, LLC.

“CPV St. Charles Energy Center is representative of our core mission to improve North America’s energy infrastructure by optimizing existing facilities and leveraging our global partnership to bring the latest technologies and most efficient capital structures to new projects,” remarked Gary Lambert, CPV’s CEO & President.

“The CPV St. Charles Energy Center is a prime example of how Japan is helping to power jobs and growth across America. It will deliver reliable, affordable energy to local families, farms and factories in Maryland and throughout the Mid-Atlantic region for decades to come,” said Ambassador of Japan, Kenichiro Sasae. “As this project makes clear, the economic partnership between Maryland and Japan is thriving, and will continue to benefit the local economy and the hardworking Marylanders and Japanese who support it.”

The Center is a state-of-the-art combined-cycle natural gas-fired electric power generating facility using two state-of-the-art reliable, highly efficient GE 7F.05 Gas Turbines and a GE D402 Steam Turbine. A total of 15 lenders, in addition to our equity partners, committed $775 million in 2014 to build the facility and bring it into operation this year. The milestone of commercial operation comes after 30 months of construction and more than three months of rigorous testing.

The Center enjoys support from the Governor of Maryland, Maryland Congressman Steny Hoyer (D-MD), Charles County and many other Maryland officials, and is now providing substantial reliability, economic, and environmental benefits to residents and electric consumers. “We have created an exciting economic resurgence in Maryland, and today we are seeing even more proof of that as we celebrate the opening of CPV St. Charles, one of the largest economic development projects in our state in the past 20 years,” said Governor Larry Hogan. “CPV St. Charles will not only create jobs, it is also one of the cleanest natural gas facilities to ever be built in this region. It is a welcome addition to this area as a source of reliable energy for Southern Maryland residents and businesses.”

“This energy center is a wonderful example of how private and public sector and community and labor stakeholders, working together with domestic and international investors, can get a project off the ground that will benefit people throughout the region,” said Rep. Steny H. Hoyer. “I congratulate CPV and all those involved for their hard work in bringing this project to fruition, which will use cutting-edge, cleaner technology to help meet our region’s growing energy demands.”

“Congratulations to CPV on this magnificent project that brings jobs and clean reliable electricity to our region,” said Maryland State Senator Thomas “Mac” Middleton. “Economic development continues to be a priority for us and Charles County is indeed fortunate to have this major private infrastructure project located here.”

The Center will provide the region with a more economically competitive power source that reduces dependence on older, less efficient power plants and is better for consumers. It is one of the most efficient combined-cycle facilities in the PJM region.

“It has been a pleasure working with the CPV team throughout the decade-long process it took to bring the CPV St. Charles Energy Center from concept to reality,” said Maryland Delegate Sally Jameson. “CPV’s professionalism and perseverance throughout the process has been exemplary.”

"The CPV St. Charles Energy Center is a very positive addition to the Charles County community that will support additional energy to power our homes and businesses," said Charles County Commissioner President Peter Murphy. "We appreciate having CPV St. Charles Energy Center as a good neighbor in Charles County for the years ahead."
###

About Competitive Power Ventures
Competitive Power Ventures (CPV) is dedicated to increasing America’s energy sustainability by providing safe, reliable, cost effective and environmentally responsible power generation. Together with our investors, partners, host communities and other key stakeholders we are driven to improve North America’s energy infrastructure by optimizing existing facilities and building new power generation using cutting edge, domestically available power technologies. Headquartered in Silver Spring, MD, with offices in Braintree, MA, and San Francisco, CA, CPV has successfully developed or monetized 21 projects totaling 13.0 GW of natural gas-fired and renewable generation assets. CPV’s Asset Management division currently manages 7,775 MW of fossil and renewable generating facilities in nine states for 10 different owner groups. For more information: www.cpv.com. Follow CPV on Twitter: @CPVEnergy.

CONTACT:
Jennifer Villarreal Manager – CPV Corporate Communications and External Affairs
(781) 817-8978
jvillarreal@cpv.com