Carroll County Energy Begins Commercial Operations

- Carroll County Energy is a combined-cycle natural gas electric generating facility built to sell into the PJM market. It is located in an area with low priced natural gas production, as well as AEP's 345 kV transmission lines and Kinder Morgan's Tennessee Gas Pipeline system. Commercial operations began in mid-December, said Chuck Davis, President, Advanced Power Asset Management. He said that commencement of operations was a credit to community partnerships, solid financial support, and the professionalism of Bechtel, the general contractor as well as the subcontractors and scores of workers employed to build the facility. "In the four-plus years since we first announced plans to build this state-of-the-art generation facility, Carroll County Energy has received outstanding support from the leadership and citizens of the Village of Carrollton, Washington Township and Carroll County," Davis said. "We are particularly proud to have been able to help the local schools to benefit the people who live and work around our facility." Plans to build Carroll County Energy were announced in July 2013. In April 2015, Advanced Power closed the $899 million project financing. Equity investors are TIAA Investments, JERA, Ullico and Prudential Capital Group and Advanced Power.  Providing senior secured credit facilities for construction were BNP Paribas, Credit Agricole and eight other commercial banks. The facility, which features two GE gas turbines and a steam turbine, has the capacity to generate electricity for approximately 750,000 homes. Bechtel built the project under a turnkey construction contract. Ethos Energy is operating the facility, which employs 22 people. Advanced Power continues to manage the business. Advanced Power is a privately owned company whose mandate is to develop, acquire, own and manage power generation and related infrastructure projects throughout Europe and North America. Advanced Power's leadership has a proven track record of identifying, developing and managing power generation and related infrastructure projects. Management has led the development of over 15,000 MW of power generation projects and $7 billion of limited recourse project financing. Contact: Jack Wollitz, 800-460-4111 ext. [email protected]