Rezin calls new, $1 Billion, cutting-edge electric generating facility for Grundy County ‘huge deal for region’

Grundy County, IL – Competitive Power Ventures, Inc. (“CPV”) announced plans Jan. 28 to develop a one billion dollar, privately funded, state-of-the-art natural gas powered electric generating facility in Grundy County.

The CPV Three Rivers Energy Center project will be a 1,100 MW (megawatt), combined-cycle electric generator powered by two General Electric “H” class gas turbines, combined with a steam turbine. The project will be located in an unincorporated portion of Grundy County (Goose Lake Township) and will occupy about 30 acres of an 80-acre site in an industrially-zoned area.

“This is a fantastic project that will help play a vital role in Illinois’ continued economic recovery and yet another validation of the value being created within our region’s energy corridor,” said State Senator Sue Rezin (R-Peru). “The construction and highly-skilled operations jobs created by the CPV Three Rivers Energy Center are significant, as is the competitive edge created by this project for Illinois business through additional, reliable, low cost electricity. This project is just another example that shows our region has a top quality workforce and is looked to for its leadership in energy.”

CPV has been analyzing the site for over a year to determine its feasibility for the project. Studies examined, among other things, geology, water supply, electrical interconnection and wetlands. Many additional studies are planned during an intensive permitting process which will be overseen by the Illinois Environmental Protection Agency and the Illinois Department of Natural Resources.

“Having completed a thorough due diligence process over the past year, we are tremendously excited to be at this point where all systems are “go” and we are ready to share our plans with the public,” said CPV President and CEO, Gary Lambert. “The CPV Three Rivers Energy Center has all the makings of an outstanding project: proximate fuel supply, transmission, excellent site location in an industrial area, superior-trained workforce and most of all, a wonderful community.”

The project is projected to take two-to-three years to permit and two-and-a-half years to build. The company has committed to employing union labor as it does at its other projects across North America, and estimates upwards of 500 workers on site over the construction period and 25 full-time, skilled staff on site once operational with another 75 indirect jobs created to support the facility.

“I want to thank Competitive Power Ventures for the opportunity to partner on this project and bring it to Grundy County. Bringing new investment and jobs to the County is an important goal, and I am proud to say that we have the assets and the workforce in place to bring this type of investment to the area,” said Grundy County Board Chairman, David Welter.

Coal City businessman Ken Sandeno of D Construction said, “This will be a great addition to the community with its construction and operations jobs. This facility is an excellent fit for Grundy County.”

“Major electric generating facilities are great construction projects as they employ across all the various trades and continue for two-to-three years,” said Michael T. Carrigan, President of Illinois AFL-CIO. ” We are delighted CPV decided to build their next project here and that they’ve committed to using union labor.”



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