Groundbreaking Monday at Lordstown Energy Center

LORDSTOWN, Ohio – Executives from Siemens Financial Services and Macquarie Infrastructure Partners III will be on hand Monday when ground is broken for the $890 million Lordstown Energy Center.

The press event will take place at 1 p.m. near the plant’s site on the Henn Parkway where hardhats are already at work preparing the site.

Siemens and Macquarie are equity investors in the natural gas fueled electricity power plant that’s being developed by Clean Energy Future LLC of Boston.

Siemens is also a major lender as is Bank of America, London-based Investec, Credit Agricole of Paris, and ICBC, based in China, Siderewicz said. This consortium will provide the $445 million term debt to fund construction.

John Gibson, senior vice president of Siemens Energy Inc., and David Kirkwood, managing director of Macquarie, are scheduled to attend the groundbreaking, according to a news advisory from the Youngstown Warren Regional Chamber. Also scheduled to attend are Bill Siderewicz, president of Clean Energy Future, Barry Brits, general manager of LEC, and Lordstown Mayor Arno Hill.

The plant will produce electricity lusing high-efficiency gas turbine power generation technology. It is expected to employ 20 full-time permanent staff when it begins operations sometime in 2018.

April 6, 2016:
Financing Secured, Work Begins on Power Plant

Copyright 2024 The Business Journal, Youngstown, Ohio.