EWP Renewable Corp. (EWPRC) said Sept. 28 that it has recently acquired the rights from an unnamed party to develop an 1,100-MW fast start combined cycle natural gas plant in Lincoln County, Nev.
The project has been in development since 2001, but has been delayed due to unfavorable economic conditions, the company said. “Now, however, low natural gas prices, growing renewable portfolios and environmental pressure on aging coal plants have again created a favorable market for the development of fast start and highly efficient natural gas power plants,” it added.
EWPRC plans to develop this project in two phases, with each phase consisting of a nominal 550 MW power block. The anticipated scheduled completion for the first phase of the project is first quarter of 2016. EWPRC plans to meet with stakeholders over the next several months.
“While we continue to have a strong interest in renewable energy facilities, we recognize fast start projects like this are required when the sun is not shining and the wind is not blowing,” said EWPRC COO John Wood. “This advanced, combined cycle natural gas technology is a perfect complement to renewable energy.”
The project would require an estimated capital investment of up to $1.8bn and would generate substantial tax revenues, the company said. Each phase of the project would create up to 600 construction jobs over a 28 month period and would provide employment for 20 full-time employees when operational.
The local Mesquite Citizen Journal newspaper reported Sept. 28 that EWP Renewable plans to build this plant at the site of the former Toquop power project 14 miles northwest of Mesquite in Lincoln County. Original plans called for Sithe Global to build a coal-fired power plant in the same area, the newspaper noted.
NV Energy (NYSE: NVE) is interested in purchasing the power from this plant, the newspaper reported.
Established in 2006, EWPRC was purchased in September 2010 by EWP America Inc., an affiliate of Korea East-West Power Co. Ltd. (EWP) based in South Korea. Korea East-West Power was spun off from Korea Electric Power Corp. in 2001.
EWPRC currently owns and operates three biomass plants in California and New Hampshire, two natural gas peaking facilities in California and a “combined heat and power” cogeneration plant in New York City. It owns and operates 165 MW of renewable energy and clean natural gas energy facilities in the U.S. The biomass plants are Fairhaven (18.75 MW, Calif.), Whitefield (19.7 MW, Calif.) and Springfield (19.7 MW, N.H.), said the company website.