GE announced an order with Bechtel for an engineered equipment package (EEP) to power the upcoming Cricket Valley Energy Center (CVEC) in Dover, New York.
With the help of GE’s latest power generation technology and financing from GE Capital, CVEC is expected to be the most efficient combined cycle power plant in the state upon commercial operation in 2020.
“We are committed to helping New York State meet its growing energy needs sustainably and we are pleased to select GE’s combined-cycle power generation technology for this important facility,” said Scott Osborne, global sector lead for Bechtel’s power business. “The addition of Cricket Valley to our portfolio of projects firmly establishes Bechtel as the leading engineering contractor for combined-cycle power generation in the U.S.”
“Together with Bechtel, GE plans to deliver the most efficient combined-cycle power plant in New York State," said Joe Mastrangelo, president & CEO, GE Gas Power Systems. “CVEC will be powered by our expanded portfolio of products and solutions including our industry-leading F-class turbines and will set the standard, not only for efficiency, but also when it comes to providing more reliable and flexible power than ever before.”
In addition to the equipment order, GE, through GE Capital’s Energy Financial Services, served as a co-lead arranger and administrative agent to help secure approximately $1 billion in senior-secured credit facilities for the project, which will be used to support construction and operations of the plant.
“We are pleased to support the Cricket Valley Energy Center, and GE’s valued customers, with an attractive package that includes market-leading financing and leading power equipment,” said Denise Persau Tait, managing director of the debt group at GE Energy Financial Services.
Advanced Power, the developer of CVEC, selected Bechtel as the engineering, procurement and construction partner for the project. Bechtel’s EEP order will include three 7F.05 gas turbines, three steam turbines, three heat recovery steam generators and additional equipment. GE’s F-Class gas turbine is an industry leader and now has the world’s largest fleet with more than 1,300 units installed worldwide with more than 72 million fired hours in service. GE Power Services has also signed a multi-year services agreement for continued maintenance, including three major inspections, of the facility's power generation equipment. In total, CVEC will generate 1,100 MW of combined cycle power and help offset potential power disruptions due to the retirement of the nearby Indian Point nuclear power facility.