MIDDLETOWN — A groundbreaking ceremony will be held Tuesday for construction of the new natural gas-fired power plant to be built in Middletown.
The ceremonial kick-off to mark the start of the project, for which construction is expected to last until 2018, comes after developer NTE Energy closed a deal for financing for the project earlier this month. Construction work on site has already started.
Lenders and business partners committed approximately $645 million to the project, according to the company. Previously stated cost estimates were $500 million. Projections are that the equivalent of 200 full-time temporary construction jobs will be created, according to the city.
Florida-based NTE Energy plans to build the power plant near the intersection of Cincinnati-Dayton and Oxford State roads. Once Middletown Energy Center opens in 2018, NTE officials have previously said it could produce more than 500 megawatts of electric power year-round and provide a cleaner source of energy to the region’s electricity supplies.
Financing represented the last major hurdle in the way of facility construction starting.
Middletown Mayor Larry Mulligan spoke before a forum held Saturday for city council candidates, although he is not running and his seat is not up for re-election. While providing an update on the city, Mulligan said that the NTE’s investment in the project is almost twice the size of the approximately $350 million Liberty Center retail complex that opened Oct. 22 in Liberty Twp.
“It really positions Middletown as a center for good, efficient, clean power,” Mulligan said.
Find complete coverage of the power plant’s development online only at www.journal-news.com/middletown-power-plant/ including past stories, renderings and other information about the project.
This article was written by Chelsey Levingston from Journal-News, Hamilton, Ohio and was legally licensed through the NewsCred publisher network.