Power plant projects investing more than $4.6B in Mahoning Valley

Investment numbers for several new energy plants in the Mahoning Valley are “unlike any the region has witnessed in decades,” totaling more than $4.6 billion, The Business Journal reports. The abundance of natural gas from the Marcellus and Utica shales “has emerged as the fulcrum” for the future of the energy industry, according to the article. Bill Siderewicz, president of Clean Energy Future LLC, said, “[w]hat’s happening in the industry right now is equivalent to the automobile replacing the horse and buggy,” as aging coal-fired and nuclear plants’ higher operating costs make it harder for them to compete with natural gas and combined-cycled plants. Clean Energy Future developed the Lordstown Energy Center and is working on a second Lordstown plant, both valued at about $890 million (see our October 13, 2017 blog post). Advanced Power “plans to invest $1.1 billion” in its South Field Energy plant in Columbiana County. Across Ohio, “11 new combined-cycle electrical generation plants worth an estimated $10.5 billion are either recently completed, under construction or in the planning or permit stages.” For more, read the full article

Economic Development, State Updates