BAYONNE, N.J.--(BUSINESS WIRE)--The Hess Corporation, in partnership with an affiliate of ArcLight Capital Partners, LLC, today announced it is actively exploring plans to build an environmentally-advanced 512 megawatt gas fired electric power plant in Bayonne, New Jersey.
If finalized, the project is expected to generate a substantial increase in local tax revenues for Bayonne by restoring to productive use a vacant seven-acre site adjacent to the upper New York Harbor and now owned by Hess Corporation. All 512 megawatts of electricity – an amount sufficient to power up to 500,000 homes – would be delivered via a state-of-the-art underwater cable directly to a Con Edison substation in South Brooklyn, with the bulk of the property and sales tax revenue remaining in New Jersey.
The project would take approximately 13 months to build and provide 300 temporary construction jobs and 10 highly-skilled permanent jobs. If the project goes forward, the plant – to be known as the Bayonne Energy Center (BEC) – would undergo a rigorous state and local permitting process in New Jersey and New York plus an extensive review by several key federal agencies.
As presently envisioned, the plant would:
Hess Corporation, with headquarters in New York, is a global integrated energy company engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products. More information on Hess Corporation is available at www.hess.com.
ArcLight Capital Partners, LLC is a leading energy investment firm with more than $6.8 billion under management. The firm is headquartered in Boston with offices in New York City. More information on ArcLight Capital Partners is available at www.arclightcapital.com.