The Federal Energy Regulatory Commission in a Sept. 18 letter accepted an executed Interconnection Service Agreement (ISA) among PJM Interconnection, CPV Shore LLC and Jersey Central Power & Light for a planned gas-fired power plant in New Jersey.
The ISA has a June 1, 2017, deadline for commercial operation of this facility. The CPV Shore ISA facilitates the interconnection to the PJM system of a 785-MW facility located in Woodbridge Township, N.J. This will be called the Woodbridge Energy Center and will be a 2×1 combined-cycle facility.
FERC on July 3 approved a purchase by ArcLight Capital Partners LLC of 50% of the in-development CPV Shore power plant. On May 31, CPV Shore LLC applied with FERC for authorization for the disposition of jurisdictional facilities resulting from the acquisition of 50% of the indirect equity interests in CPV Shore by a special-purpose entity, which will be a wholly owned direct or indirect subsidiary of the ArcLight Energy Partners Fund V LP.
Competitive Power Ventures Holdings LLC (CPV), through its subsidiaries, develops, owns, and manages natural gas-fired and renewable generation facilities throughout the United States.
CPV Shore said in a May 31 application that it participated in PJM’s 2012 forward capacity auction (Reliability Pricing Model or “RPM”) and cleared 661 MW of capacity for delivery in the 2015/2016 delivery year. In PJM’s 2013 auction, CPV Shore cleared its capacity for delivery in the 2016/17 delivery year. CPV Shore also participated in a New Jersey solicitation conducted in accordance with the requirements of the New Jersey Long-Term Capacity Pilot Program and was selected, along with two other (unaffiliated) entities, to enter into Standard Offer Capacity Agreements with four Electric Distribution Companies with a term of 15 years.