NTE Ohio takes in outside investment for gas-fired power project

NTE Ohio LLC, which since June has been seeking an Ohio Power Siting Board approval for a gas-fired project, on Oct. 21 updated the board about an ownership change since the filing of the application.

On June 4, NTE Ohio had filed for a Certificate of Environmental Compatibility and Public Need for its proposed 525-MW combined cycle natural gas-fired facility to be located in Middletown in Butler County, Ohio.

Said the Oct. 21 update: “Capital Dynamics and Wattage Finance, LLC, the latter of which is owned by a group of private investors and managed by an affiliate of Guggenheim Partners, LLC, have become equity investors with an affiliate of NTE Energy in conjunction with the development and construction of the generating facility, Middletown Energy Center. As a result of the equity investment, NTE Ohio, LLC is now a wholly owned subsidiary of NTE Ohio Holdings, LLC, a new entity created for purposes of the equity investment. The Application had stated that NTE Ohio, LLC was a wholly owned subsidiary of NTE Development Company LLC. That ownership structure was correct as of the filing date of the Application but has been superseded by the upstream ownership structure discussed above and shown on the attached chart. This development does not change any of the material statements set forth in the Application.”

Also, on Oct. 22, NTE Ohio told the board that at this point it has no remaining project issues to resolve with board staff. “However, it is possible that there may be other issues that arise,” the company added. “Therefore, Applicant respectfully reserves the right to add issues.”

As part of the board’s review process, a local public hearing will be held on Oct. 28 at the Middletown City Council Chambers. Then an adjudicatory hearing will be held on Nov. 6 at the offices of the Public Utilities Commission of Ohio in Columbus. The board is an adjunct of the utilities commission.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.