Scheduled to commence construction in mid-2015, the $615m plant will have a nameplate capacity of 549 MW and will be built on a 37-acre site in Marshall County.
Moundsville spokesman, Andrew Dorn said that the project will have a very significant positive financial impact on Moundsville, Marshall County and the State of West Virginia.
During the estimated 30-month construction period, the project will average more than 400 construction jobs, according to an economic impact study performed by Tom Witt of Witt Economics.
Expected to employ 30 skilled workers once operational, the plant will use $105m of natural gas annually from West Virginia producers and processors.
Moundsville Power is contracting with a consortium consisting of CH2M Hill and General Electric (GE) to build the plant and to provide construction and operating guarantees.
CH2M Hill will design, engineer and construct the facility while GE will provide the natural gas turbines and power island equipment in addition to long-term contractual services agreement to ensure the efficient operation of the power project.
KeyBanc Capital Markets has been engaged to serve as the exclusive project finance advisor.
