MONTREAL, July 22, 2015 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) is pleased to announce that it has been awarded an engineering, procurement and construction contract for the Keys Energy Center project, a 755-megawatt combined-cycle natural gas-fired power project located in Prince George's County, Maryland. The contract will be under SNC-Lavalin Constructors Inc.
PSEG Power, an independent power producer and subsidiary of Public Service Enterprise Group Incorporated (PSEG), through its wholly-owned subsidiary PSEG Fossil, recently acquired the Keys Energy Center project from Genesis Power, LLC and an energy-focused private equity fund managed by Ares EIF Management, LLC. PSEG Power plans to rename the facility the PSEG Keys Energy Center. PSEG Fossil will oversee the construction and then operate and maintain the combined-cycle plant.
"We're proud to be part of the PSEG Keys Energy Center project because it will provide clean energy to Maryland, make the energy grid more reliable, and create new jobs and economic opportunity in the region," said Mike Ranz, Senior Vice-President, Thermal, SNC-Lavalin. "The project is the third that SNC-Lavalin has won in the northeastern United States in recent years and solidifies our position as a leader in the US power market."
The plant will connect to the Potomac Electric Power Company's 500-kilovolt transmission line, adjacent to the property, and will feature two gas-fired turbines and one steam turbine. The plant is expected to generate approximately 700 jobs during construction, and more than 20 permanent jobs will be created to run the new plant once it becomes operational in 2018.
"SNC-Lavalin is committed to delivering outstanding performance and continually strengthening our project execution capabilities," said Sandy Taylor, President, Power, SNC-Lavalin. "Through projects such as the PSEG Keys Energy Center, we will continue to use our engineering know-how to execute projects that make a difference."
About PSEG Power
PSEG Power is a subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE:PEG), a publicly traded diversified energy company with annual revenues of approximately $11 billion.
Founded in 1911, SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. From offices in over 50 countries, SNC-Lavalin's employees are proud to build what matters. Our teams provide EPC and EPCM services to clients in a variety of industry sectors, including oil and gas, mining and metallurgy, infrastructure and power. SNC-Lavalin can also combine these services with its financing and operations and maintenance capabilities to provide complete end-to-end project solutions. www.snclavalin.com
For further information: Media: Louis-Antoine Paquin, Public Relations Manager, Global Corporate Communications, SNC-Lavalin Group Inc., 514-393-8000, ext. 54772, [email protected]; Investors: Denis Jasmin, Vice-President, Investor Relations, SNC-Lavalin Group Inc., 514-393-8000, ext. 57553, [email protected]