General Electric has hired a third party to sell all or parts of its 800 MW natural gas-fired power plant in Riverside County, CA, about 70 miles east of downtown Los Angeles.
The move is yet another sign of the state’s push to decarbonize its economy, as well as the competition natural gas faces from alternative energy such as wind and solar. After formally notifying state regulators at the California Energy Commission (CEC) of its plans to close the 10 year-old plant, GE hired The Branford Group to target a global market for the plant’s combined-cycle steam turbines, and an assortment of other items used in gas-fired power facilities.
CEC staff are reviewing the closure plan to assess its impact on environmental quality and public safety. Regulators are expected to publish their assessment for public comment. GE wants to close the plant by the end of the year, said the Branford Group’s Andy Duncan, vice president of business development. Duncan, who is overseeing the sale, hopes to complete the process in 1Q2020.
“Right now we are trying to market it as a complete facility” that could be reassembled in another state or country, Duncan told NGI. “…After that, we’ll go to Plan B and break everything up. With a global market, maybe we’ll find a turn-key buyer.”
The plant began operating a decade ago, with the first turbine coming online in 2009 and the second one the following year.
© 2020 Natural Gas Intelligence. All rights reserved.
ISSN © 1532-1231 | ISSN © 2577-9877 | ISSN © 1532-1266 |