December 18, 2018

CT's newest gas plant adds investor

Photo | Contributed
Photo | Contributed
A view of CPV Towantic plant in Oxford, which adds about 800 megawatts of natural-gas-fired generation to New England's power grid.

The largest new Connecticut power plant has a new minority owner.

Competitive Power Ventures (CPV) announced that it's sold a 25 percent stake in Oxford's CPV Towantic Energy Center to Osaka Gas USA for an undisclosed price.

The 805-megawatt natural gas plant, which can also run on oil when needed, entered service in June.

Osaka Gas has previously invested in three CPV plants, in Maryland, New Jersey and Pennsylvania.

"Our thriving partnership with CPV has been instrumental in expanding our generation footprint in the U.S. power markets," Tetsushi Ikuta, OGUSA's president, said in a statement.

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