NTE Energy Signs Long-Term Power Purchase Agreements with Four North Carolina Municipalities
ST. AUGUSTINE, Fla. - NTE Energy, (“NTE”) announces that it has entered into long-term Power Purchase Agreements with the Towns of Black Creek, Lucama, Sharpsburg, and Stantonsburg. Under the terms of the agreement, the municipalities will purchase a portion of the capacity from NTE’s Kings Mountain Energy Center.
“NTE is pleased to partner with four more North Carolina municipalities, that will benefit from our economical, reliable, and clean sources of energy in the Carolinas.” said Seth Shortlidge, CEO and President of NTE. Mayor Bill Edmundson of Stantonsburg said, "We are excited and optimistic about the potential savings to our respective clients by working with NTE.”
NTE broke ground on the Kings Mountain Energy Center on July 28, 2015, with Gemma Power Systems, LLC building the facility under a fully wrapped Engineering, Procurement and Construction Services contract. The facility will be one of the most efficient and clean sources of capacity and energy in the Carolinas, employing Mitsubishi’s GAC turbine technology in a combined-cycle configuration.
The Kings Mountain Energy Center will provide approximately 250-350 jobs during construction, and 25- 30 full-time positions during operation. Once operational, the facility will supply the power needs of approximately 400,000 homes.
About NTE Energy
NTE Energy, through its affiliates, develops and acquires strategically located electric generation and transmission facilities within North America. The team executes all aspects of project development, from initial market and site evaluations and permitting to financing, construction and operation. Capital Dynamics and Wattage Finance, LLC, which is owned by a group of private investors and managed by an affiliate of Guggenheim Partners, LLC, works with NTE Energy and its affiliates to finalize the development and prepare the three projects for construction financing. For more information on the Kings Mountain Energy center, please visit www.kmenergycenter.com or www.nteenergy.com.