Lordstown Energy Center receives $1.2 billion in funding to build second plant
November 03, 2022
Source: WFMJ News
Lordstown's second power plant received $1.2 billion in funding Thursday, hoping to break ground within weeks on the 3-year project.
Clean Energy Future, a Massachusetts-based company, which developed the first Lordstown Energy Center in 2018, received financing Thursday, permitting the $1.2 billion project second power plant to be built beside the current facility on Henn Parkway and state Route 45.
According to Lordstown Mayor Arno Hill, the only final minor steps left are with the Trumbull Planning Commission, which is expected to be approved, allowing for groundbreaking in the next few weeks.
The construction of the natural gas-fired power plant will begin and is expected to last more than 30 months, creating 1,000 construction jobs in the area Hill stated.
Clean Energy Future CEF William Siderewicz told 21 News, "The Trumbull Project was started in 2015 and reached financial closing today, $1,258,000,000."
Siderewicz said "There was no money provided by Federal entities, State of Ohio, Trumbull County, Warren or Lordstown ... not a single penny. A true private sector investment in the Valley."
The Clean Energy Future president told 21 News that the most immediate impact will be the need for 2,000,000 man-hours of construction labor to build Trumbull over 3 years. According to Siderewicz, Lordstown will receive nearly $100 million in fees and taxes and Warren will receive nearly $25 million of new water infrastructure improvements within the city, and will receive added annual revenue, and additional state tax revenues.
In July, the Board of Public Affairs and Lordstown Village Council voted to approve a water line project.
By: Robert McFerren
News by date