ST. AUGUSTINE, Fla.--(BUSINESS WIRE)--NTE Carolinas II, LLC (“NTE”), an affiliate of NTE Energy, was granted its final Certificate of Public Convenience and Necessity (“CPCN”) from the North Carolina Utilities Commission on January 19, 2017 for its Reidsville Energy Center, a required approval for the project to commence construction. Currently under development, the Reidsville Energy Center is a 500 MW natural gas-fired electric generating facility, located in Rockingham County, N.C. Once operational, the facility will be a source of clean and efficient electric capacity and energy for many communities and utilities in the Carolinas.
“The issuance of the Certificate of Public Convenience and Necessity represents a major milestone for the facility,” said Seth Shortlidge, CEO of NTE Energy. “The Reidsville Energy Center is an essential project, providing economic and reliable wholesale power to the competitive power market in the Carolinas.”
NTE is currently in the process of negotiating long term power purchase agreements with several entities in the Carolinas, offering the opportunity to lock in very competitive pricing in the wholesale market. In addition, NTE is in the study phase of interconnecting the facility with Duke Energy Carolinas’ high voltage transmission system, as well as obtaining all necessary permits and approvals for the facility.
The Reidsville Energy Center is expected to begin construction in the fourth quarter of 2017, and reach commercial operation in 2021. The facility will be comparable to NTE’s Kings Mountain Energy Center, currently under construction in Kings Mountain, N.C.
About NTE Energy
NTE Energy focuses on the development and acquisition of strategically located electric generation and transmission facilities within North America. The team executes all aspects of project development, construction and asset management. NTE Energy currently has two projects under construction, the Middletown Energy Center (Middletown, OH) and the Kings Mountain Energy Center (Kings Mountain, N.C.), and is actively developing four projects located in Connecticut, North Carolina and Texas, as well as pursuing early-stage opportunities in several other locations. For more information, visit www.reidsvilleenergy.com or www.nteenergy.com. For Commercial inquiries, contact Mike Bradley, SVP Commercial Services at 770-517-9636 or firstname.lastname@example.org.