Press Releases


  • DECEMBER 3, 2012
    NextEra Energy Resources completes purchase of Kansas wind farm

    NextEra Energy Resources Completes Purchase of Kansas Wind Farm

    JUNO BEACH, Fla. NextEra Energy Resources, LLC, the largest generator of renewable energy from the wind and sun in the United States, today announced that its subsidiaries have completed the purchase of the approximately 165-megawatt (MW) Cimarron I Wind Energy Center from CPV Renewable Energy Company. Financial terms were not disclosed.

    The project, located in Gray County, in southwest Kansas, is comprised of 72 Siemens 2.3 MW turbines spread across approximately 14,000 acres. All of the power from the project is being sold to the Tennessee Valley Authority under a 20-year power purchase agreement. An affiliate of NextEra Energy Resources owns and operates the project.

    “The addition of the Cimarron Wind Energy Center is consistent with our strategy to add fully-contracted clean energy projects to our portfolio, said Armando Pimentel, president and CEO of NextEra Energy Resources.  “In addition to generating clean, emission-free energy, this project will have a positive impact on the local economy for years to come. With continued public policy support for wind energy generation, we look forward to bringing the economic and environmental benefits of wind energy to other communities across the nation.” 

    “CPV is extremely pleased to have worked with NextEra Energy Resources on this transaction; a company that is leading the way increasing the amount of clean, renewable resources available to power our electricity-intensive lives,” said Sean Finnerty, senior vice president of renewable development, CPV Renewable Energy Company. “With excellent wind resources, an ideal location, a 20-year contract with a blue-chip off-taker, and dedicated firm transmission, Cimarron Wind Energy Center is a prime example of the type of clean energy project CPV is proud to develop.”

    NextEra Energy Resources is no stranger to Kansas. The company currently owns and operates the 112-MW Gray County Wind Energy Center and the approximately 99-MW Ensign Wind Energy Center that was brought into service in November 2012. Together, NextEra Energy Resources’ three Kansas Wind Energy Centers are capable of generating enough power for more than 100,000 homes.

    The Cimarron and Ensign Wind Energy Centers are part of the approximately 1,500 MW of U.S. wind projects that NextEra Energy Resources expects to bring into service by the end of 2012. This will be the biggest wind program ever completed in this country in a single year and will push NextEra Energy Resources’ total wind portfolio over the 10,000 MW mark.

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    About NextEra Energy Resources
    NextEra Energy Resources, LLC (together with affiliated entities, "NextEra Energy Resources"), is a clean energy leader and is one of the largest competitive energy suppliers in North America, operating in 22 states and Canada as of year-end 2011. NextEra Energy Resources is the largest generator in the United States of renewable energy from the wind and sun, owning and operating approximately 8,569 megawatts of wind and 158 megawatts of solar power generation at the end of 2011. The business operates clean, emissions-free nuclear power generation facilities in New Hampshire, Iowa and Wisconsin as part of the NextEra Energy nuclear fleet, which has the third largest number of commercial nuclear power units in the United States. NextEra Energy Resources is a subsidiary of Juno Beach, Fla.-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.NextEraEnergyResources.com.


    About Competitive Power Ventures
    Competitive Power Ventures, LLC (CPV) is dedicated to increasing America’s sustainability; both economically and environmentally. Using domestically-available energy sources, like wind and natural gas, and partnering with host communities to support their tax base and school districts, CPV works to stabilize and improve local and state economies. CPV’s corporate mission is built around a belief that progressive companies can be powerful agents of change for a better world and a cleaner environment. To this end, we have focused our core activities around developing and operating energy facilities that can make a significant difference in improving the environments and economic well-being of a region. Headquartered in Silver Spring, MD, with offices in Braintree, MA, San Francisco, CA and Toronto, Ontario, Canada the company currently has 5,800 MW of conventional generation projects in various stages of development across North America. The company’s Asset Management division has ramped up to more than 5,600 MWs of natural gas generation and wind power under management. CPV Renewable Energy Company is currently developing 2,300 MWs of wind power projects across North America. Find out more at www.cpv.com.
  • MAY 24, 2012
    CPV Valley Energy Center Receives SEQRA Approval

    CPV Valley Energy Center Receives SEQRA Approval

    - Milestone Makes Natural Gas-Powered Electric Generating Project Leading Candidate for Inclusion in State's Energy Highway Infrastructure Upgrades -


    Braintree, Massachusetts, May 24, 2012 -Competitive Power Ventures (CPV) announced today that the Findings Statement for its CPV Valley Energy Center (CPV Valley) was accepted under the New York State Environmental Quality Review Act (SEQRA) on May 23 by the Town of Wawayanda Planning Board, which served as the SEQRA Lead Agency throughout the four-year environmental review process.

    CPV Valley Energy Center is a proposed $900 million, 650 megawatt (MW) clean, natural gas-powered combined-cycle electric generating facility to be located in the town of Wawayanda, New York, just outside of Middletown in Orange County.

    CPV Valley was reviewed through the SEQRA process because, at the time when the project was proposed in spring of 2008, New York State's electric power plant siting law (Article X) had expired. Because CPV focused its efforts on public outreach programs and working closely with host communities, the company made the decision to move ahead in 2008, rather than wait for renewal of the state's power plant siting law. Now, the CPV Valley Energy Center is the first utility scale combined-cycle power project to successfully proceed through SEQRA with a truly local board acting as lead agency in many years.

    With SEQRA approval in-hand, CPV can now finalize the few remaining permits that were contingent upon this major milestone. It is expected that all permitting for CPV Valley will be completed in the next several months and that the project could move into construction in Q1 2013.

    "This is a major achievement for CPV Valley Energy Center which should place this project at the head of the pack in terms of infrastructure improvements being considered by New York State in its Energy Highway process," said Doug Egan, CPV Chief Executive Officer. "We'd like to express our deep appreciation for the diligent and thorough review by the Wawayanda Planning Board in overseeing this process and producing an outcome that will benefit New Yorkers through cleaner air and a more reliable electric system."

    This private infrastructure investment will enhance the overall reliability of New York’s electric system not only due to its location in the Lower Hudson Valley, but also due to the plant’s dual fuel capability.

    The high efficiency of CPV Valley's combined-cycle technology will improve the state’s system-wide efficiency and consume less fuel than other conventional generators. This will result in a reduction of emissions in the state. By employing dry cooling technology, this project is designed to use 95 percent less water than similar "wet cooled" generators. The relatively small amount of water the project does need will come from recycled "grey" water purchased from the City of Middletown.

    This project will also provide an important boost of economic stimulus for the upstate economy. During the approximately 30-month construction period, the project will employ hundreds of union workers with a construction payroll of more than $100 million. The project will also provide more than $30 million in local tax revenue, with the majority going to the local school system which has been hit hard in recent years by budget cuts.

    CPV has achieved a string of successes in the past few years. In March 2012, its CPV St. Charles Energy Center was selected as a winner in the Maryland Public Service Commission's RFP for additional in-state generating capacity. In July, CPV broke ground on its Sentinel Energy Center in Southern California, a project that will support the State's aggressive Renewable Portfolio Standard by backing up intermittent wind energy. In March of last year, CPV's Woodbridge Energy Center was selected as one of three projects to be built as part of a NJ Bureau of Public Utilities RFP.

    CPV works with a variety of equipment providers including Siemens, Alstom and General Electric. CPV has partnered with General Electric on four projects and will be utilizing 16 General Electric turbines within its development portfolio, providing significant support to a major New York employer.

    Because of the "Best Available" technology being employed in CPV Valley's design, the project is expected to be one of the cleanest, most efficient conventional electric generating stations in North America when it goes on-line.

    "We are deeply grateful to the many local people who have steadfastly supported this project and the positive benefits it promises for New York," said CPV Vice President and project lead, Steve Remillard. "Now we look forward to moving into construction and helping Gov. Cuomo achieve his vision for delivering the next generation electric system for New York State."

    For more information about the project and CPV please go to www.cpvvalley.com and www.cpv.com.

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    CPV: Energizing North America's Future

    About Competitive Power Ventures

    Competitive Power Ventures, LLC (CPV) is dedicated to increasing America’s sustainability; both economically and environmentally. Using domestically-available energy sources, like wind and natural gas, and partnering with host communities to support their tax base and school districts, CPV works to stabilize and improve local and state economies. CPV’s corporate mission is built around a belief that progressive companies can be powerful agents of change for a better world and a cleaner environment. To this end, we have focused our core activities around developing and operating energy facilities that can make a significant difference in improving the environments and economic well-being of a region. Headquartered in Silver Spring, MD, with offices in Braintree, MA, San Francisco, CA and Toronto, Ontario, Canada the company currently has 5,100 MW of conventional generation projects in various stages of development across North America. The company’s Asset Management division has ramped up to more than 5,600 MWs of natural gas generation and wind power under management.. CPV Renewable Energy Company is currently developing 3,600 MWs of wind power projects across North America. Find out more at www.cpv.com
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  • APRIL 13, 2012
    Maryland PSC Takes Huge Step Forward for Ratepayers and the Environment after Intensive Four-Year Process

    Maryland PSC Takes Huge Step Forward for Ratepayers and the Environment After Intensive Four-Year Process

    RFP Announcement Facilitates Job Creation, Environmental Improvements
    and Hundreds of Millions of Dollars in Savings for MD Electric Ratepayers


    Silver Spring, Maryland (April 12, 2012) - Competitive Power Ventures, Inc. (CPV) announced today that after a multi-year process, its CPV St. Charles Energy Center has been chosen by the Maryland Public Service Commission to be built as part of the state initiative to upgrade its energy infrastructure for the 21st century.

    CPV St. Charles Energy Center is a shovel-ready, highly-efficient, combined-cycle clean natural gas-powered electric generating facility proposed for Charles County, Maryland. The project location was specifically selected by CPV to address Maryland's generation, transmission and environmental challenges.

    In commenting on the outcome, CPV CEO Doug Egan, whose company's international headquarters is located in Silver Spring, Maryland commended the PSC saying,

    "This has been an ambitious planning process undertaken by the Commission since 2007 to set Maryland on a positive course for its energy future. After four-plus years they have delivered on their commitment to ratepayers: a thoroughly vetted roadmap for significantly improving, the reliability, environmental profile and ratepayer dividends of a modernized electric system."

    In addition to a projected statewide ratepayer savings of hundreds of millions of dollars over the twenty-year life of this initiative, CPV St. Charles is expected to yield substantial regional benefits including:

    - New, direct fiscal benefits to the Charles County Treasury in excess of $128 million and millions of dollars in additional economic benefits to the region are estimated with the construction and operation of the CPV St. Charles Energy Center.

    - Environmentally, this project reduces emissions of sulphur, nitrogen oxides and carbon dioxide by 65 to 99 percent compared to typical oil and coal fired plants. In addition, the project utilizes reclaimed water reducing nutrient discharge, helping clean up the Potomac River and Chesapeake Bay.

    - The construction of this project will employ 350-400 skilled workers in well-paying jobs and provide extremely highly-skilled jobs once in operation.

    The CPV St. Charles Energy Center project represents a more than $500 million private infrastructure investment in Maryland's future to reliably and economically power our increasingly electricity-dependent lives.

    Today's decision by the Maryland PSC is the culmination of a process that began over four years ago. Maryland ratepayers were reeling at the time from electric rate cap removal shock, so state leaders decided to embark upon an effort to take Maryland's electric system in a new, better, more self-reliant direction.

    The Maryland PSC commissioned studies by energy market design and analysis experts, Levitan Associates. These studies looked at both Maryland's energy markets and infrastructure. The primary conclusion of these studies was that Maryland ratepayers were paying much higher electricity rates because of the need for new in-state generation infrastructure. Levitan also pointed to the overall aging of Maryland's current generating fleet and the significant room for environmental improvement as critical focus areas.

    Levitan recommended that the best and most cost-effective solution for improving Maryland's electricity challenges was to construct high-efficiency, combined-cycle natural gas electric generation facilities in specific areas on Maryland's electric grid. The analysis concluded that adding electric resources to the supply-constrained area would reduce west-east transmission congestion, off-set dirtier, outdated coal-burning plants and best of all, deliver significant benefits to Maryland ratepayers as noted in the following passage from the report below:

    "Levitan projected annual savings of roughly $300 to nearly $800 million compared to the “business as usual” reference case.[1]"


    [1] Final Report of the Public Service Commission of Maryland to the Maryland General Assembly Options for Re-regulation and New Generation, December 10, 2008, Pursuant §2(b)(2), Chapter 549, Acts 2007, page 28

    # # #

    For more information about the project and CPV please go to www.cpv.com or www.cpvstcharles.com or follow us on twitter @cpvenergy.

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    CPV: Energizing North America's Future
    About Competitive Power Ventures

    Competitive Power Ventures, LLC (CPV) is dedicated to increasing North America's sustainability; both economically and environmentally. Using domestically available energy sources, like wind and natural gas, and partnering with host communities to support their tax base and school districts, CPV works to stabilize and improve local and state economies. CPV's corporate mission is built around a belief that progressive companies can be powerful agents of change for a better world and a cleaner environment. To this end, we have focused our core activities around developing and operating energy facilities that can make a significant difference in improving the environments and economic circumstances of the regions in which they are located.

    Headquartered in Silver Spring, Md., with offices in Braintree, Mass., San Francisco, Calif., and Toronto, Ontario, the company currently has 6,000 MW of conventional generation projects in various stages of development. The company's Asset Management division has ramped up to nearly 5,000 MW of natural gas generation under management. CPV Renewable Energy Company (REC) is currently developing 4,300 MW of wind power projects across North America. Find out more at www.cpv.com.

  • jANUARY 20, 2012
    CPV Completes Project Financing For the Cimarron Wind Energy Project in Gray County, Kansas

    CPV Completes Project Financing For the Cimarron Wind Energy Project in Gray County

    Kansas Project Caps Successful 2011 for Growing Company


    BRAINTREE, MASS. - January 10, 2012 CPV Renewable Energy Company (CPV Renewable Energy) announced that it closed financing for the construction of its 165.6 MW Cimarron Wind Energy Project in Gray County, Kansas. The company began construction of the renewable energy facility in early December 2011 and expects that the Cimarron project will achieve commercial operation in November 2012.

    The project's 72 Siemens 2.3 megawatt turbines will supply Tennessee Valley Authority (TVA) customers with renewable energy under a 20-year power purchase agreement. CPV Renewable Energy was awarded the power purchase agreement as part of TVA's 2009 Request for Proposals for renewable generation. The project is managed by a CPV affiliate, is being constructed by Wanzak Construction, a MasTec Company, and will be operated by North American Energy Services.

    Coordinating Lead Arrangers Bank of Tokyo Mitsubishi UFJ and Union Bank of California were joined by Mandated Lead Arrangers Helaba, Siemens Financial Services and Lloyds in providing $262.8 million of senior credit facilities.

    "CPV is pleased to once again bring clean renewable wind powered generation to southwest Kansas," said Sean Finnerty, CPV REC Sr. Vice President. "The Cimarron project adds to CPV's growing asset base and will provide low cost, reliable wind generation to the Tennessee Valley Authority for years to come."

    This milestone caps a year during which CPV's 800 MW gas-fired Sentinel Energy Center, which supports the expansion of wind energy and reliability in Southern California, was heralded by Project Finance International as "Power Deal of the Year" for the Americas. In December 2010, CPV commissioned its Kennan II wind farm in Oklahoma.

    With its unique, diversified clean energy approach to development, CPV is succeeding in the most challenging environments.

    "CPV's portfolio of over 1,100 MW of clean, reliable generation in construction or operation shows the value of a diversified approach to power generation," said Doug Egan, CPV Chairman and CEO. "We are happy to add the Cimarron project to the growing list of projects CPV has in operation and construction."

    For more information about the project and CPV please go to www.cpv.com.

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    CPV: Energizing North America's Future
    About Competitive Power Ventures

    Competitive Power Ventures, LLC (CPV) is dedicated to increasing North America's sustainability; both economically and environmentally. Using domestically available energy sources, like wind and natural gas, and partnering with host communities to support their tax base and school districts, CPV works to stabilize and improve local and state economies. CPV's corporate mission is built around a belief that progressive companies can be powerful agents of change for a better world and a cleaner environment. To this end, we have focused our core activities around developing and operating energy facilities that can make a significant difference in improving the environments and economic circumstances of the regions in which they are located.

    Headquartered in Silver Spring, Md., with offices in Braintree, Mass., San Francisco, Calif., and Toronto, Ontario, the company currently has 6,000 MW of conventional generation projects in various stages of development. The company's Asset Management division has ramped up to nearly 5,000 MW of natural gas generation under management. CPV Renewable Energy Company (REC) is currently developing 4,300 MW of wind power projects across North America. Find out more at www.cpv.com.