The City of Camden, South Carolina is the latest municipality to approve
a long-term power purchase agreement (PPA) with NTE Energy, company
officials announced today.
Beginning Jan. 1, 2021, NTE will supply all of Camden’s power needs for
20 years under the terms of the agreement, which was approved Sept. 25
by the Camden City Council.
“The city is excited, this new venture with NTE will provide our
customers with continued reliable service,” said Camden Mayor Alfred Mae
Drakeford. “I was thoroughly impressed by their use of alternate energy
sources. After learning more about NTE and the state-of-the-art
facilities they run across the Carolinas, I look forward to this new
relationship.”
Camden will receive power from NTE’s fleet of energy facilities,
including the newly opened Kings Mountain Energy Center in Cleveland
County, North Carolina; and Reidsville Energy Center – a 500-megawatt
natural gas-fired plant currently under construction in Rockingham
County, North Carolina. Each facility has the capacity to power 450,000
homes.
Camden City Manager Mel Pearson noted that long-term PPAs such as
Camden’s agreement with NTE Energy can produce significant economic
benefits for local communities. “Lower electric rates not only help
local families by reducing utility costs,” Pearson said, “but also spur
economic development, helping to attract new businesses and boost
employment.”
Public Utilities Director Tom Couch, meanwhile, said the operating
efficiency of the NTE generation portfolio supports a long-term
partnership between the city and NTE. Seth Shortlidge, CEO of NTE
Energy, agreed.
“NTE’s facilities are some of the cleanest and most efficient sources of
energy in the Carolinas,” said Shortlidge, noting that the company’s
combined-cycle plants produce up to 50 percent more energy from the same
amount of fuel. “Through this long-term agreement, the City of Camden
will reap the economic benefits of affordable and reliable electricity
for decades to come.”
Camden’s agreement with NTE Energy follows similar PPAs the company has
signed with 11 other customers, including other South Carolina
municipalities such as McCormick and Greenwood. In addition to its Kings
Mountain and Reidsville facilities, NTE Energy has begun preliminary
design work on a third combined-cycle natural gas power plant in South
Carolina. The company is also developing the Fayetteville Solar Energy
Center, a 30-megawatt facility that will provide an affordable source of
clean, renewable energy to communities and utilities in the Carolinas
through NTE’s Voluntary Solar Program.
About NTE Energy
Based in St. Augustine, Florida, NTE Energy develops and acquires
strategically located electric generation and transmission facilities
within North America. Through its affiliates, NTE executes all aspects
of project development, from initial market and site evaluations and
permitting to financing, construction and operation. For more
information about NTE Energy, visit www.nteenergy.com.
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Copyright Business Wire 2018
Source: Business Wire
(September 27, 2018 - 10:47 AM EDT)
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