Jera, 50:50 joint venture of Tokyo Electric and Chubu Electric, is participating in a 1,000 MW combined-cycle power plant in New York state through its operating company Cricket Valley Energy Center. Start of commercial operation is slated for 2020.
The CCGT will be built at Dover, Dutchess County, New York. All electricity produced will be sold on the wholesale electric power market in New York (NYISO).
Bechtel signed a contract to undertake engineering, procurement, and construction of the generating facility, which will use General Electric power generation equipment including three combustion turbines, each paired with a heat recovery steam generator and steam turbine generator.
Funding will also partially be handled through Bechtel’s financing and development arm, Bechtel Enterprises, which partnered with Cricket Valley to complete the development of the project. Additional financing will come from the US fund manager BlackRock which in August 2016 entered an agreement to invest 10% of the CCGT project cost.