Ribbon-Cutting Ceremony Celebrates Completion of $1.3B Project
Silver Spring, MD — October 25, 2023 — Today, Competitive Power Ventures (CPV) celebrated with its partners, local officials and supporters the successful completion of the CPV Three Rivers Energy Center (CPV Three Rivers) in Grundy County, IL. Located approximately 60 miles southwest of Chicago, the CPV Three Rivers is a 1,250 megawatt electric generating facility now online and capable of powering over 1,000,000 homes and businesses in Illinois and the region.
The project, managed by CPV and co-owned along with Osaka Gas USA, Concord Infrastructure Investments, Harrison Street and Axium Infrastructure, was constructed by Kiewit Power Constructors Co. and will be operated by Consolidated Asset Management Services (CAMS). The dedication ceremony and ribbon-cutting for the project featured several guest speakers including: CPV’s CEO Gary Lambert; CPV’s President and CCO Sherman Knight; GE Vernova’s Chief Commercial Officer, HDGT, Katy Wilner; and, Grundy County Economic Development Council President and CEO Nancy Norton.
The ceremony began with a safety briefing by CPV’s Vice President, Jeff Ahrens, who oversaw construction of the project, and noted the 2.7 million manhours spent building the project which achieved an impressive zero-time-lost safety record, a tribute to the hard work and dedication on the part of all the men and women that worked on the project.
“We are honored to be joined on-site today by leaders in energy, finance, construction and labor, government and the local community, all of which were instrumental in making this project a success,” remarked Gary Lambert, Chief Executive Officer of CPV. “The remarkable collective effort by this group, which closed financing and began construction in August 2020 in the middle of COVID, is truly awe inspiring and has resulted in what is now one of the most efficient and lowest emitting facilities of its kind in the world.”
CPV Three Rivers is a state-of-the-art combined-cycle natural gas-fired electric power generating facility that combines two GE 7HA.02 gas turbines with heat recovery stream generators and steam turbines to produce electricity with maximum efficiency while minimizing the amount of fuel required.
“GE’s partnership with CPV over the years has led to the completion of yet another high-quality project,” said GE Vernova’s Chief Commercial Officer, HDGT, Katy Wilner. “We are very proud to have been able to provide state-of-the-art GE turbines and equipment that will enable CPV Three Rivers to generate reliable and efficient power for Illinois and the region for many years to come.”
CPV Three Rivers represents the fifth combined-cycle power plant to utilize GE technology that CPV has brought online since 2016. Combined, these facilities total nearly 4,600 megawatts and can power close to 5 million homes and businesses in the United States. Construction of the project saw 900 skilled workers on site daily during peak and included over 2.7 million total manhours with a zero-time-lost safety record.
“I am proud to be joined here in Grundy County today by so many from CPV and their partners, as well as leaders from our local community, to celebrate the success of this project and all that it means to our community,” said Nancy Norton, President & CEO of the Grundy Economic Development Council. “The impact that CPV Three Rivers has had, both in terms of jobs and economic development, as well as in helping to modernize and strengthen our electric grid by adding a reliable, low carbon resource, will have a lasting effect on this area.”
The ceremony was attended by approximately 100 representatives from CPV and its partners, as well as the local community, who were involved with or supported the project during its multi-year development and subsequent 34-month construction period.
“Having the support of Nancy Norton and all of these leaders from Grundy County and Goose Lake Township is so important to us,” remarked Sherman Knight, President of CPV. “We are very grateful for the relationship we have built with our host community, and we are excited to be able to contribute to the bright future this area has under their inspired leadership.”
CPV Group LP, a partnership majority owned by OPC Energy Ltd., has over two decades of unprecedented success in the development and operation of highly efficient and low emitting electric generation and renewable projects in the United States. CPV is focused on applying its development, financial and project management expertise to advance the next generation of technologies, including an extensive renewable pipeline, and dispatchable power projects that will utilize carbon capture technology, to yield extremely low carbon power that will help drive the nation’s decarbonization goals forward.
About OPC Energy
OPC Energy is the first private electricity company in Israel. The Company was incorporated in 2010 and is active in the field of power generation and supply, including development, construction, and operation of power plants, as well as power generation and supply to private customers and to Israel Electricity Corporation (IEC). The Company generates about 5% of the electricity consumption in Israel.
For more information: please visit www.opc-energy.com/en
Director, External & Regulatory Affairs
Competitive Power Ventures