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CPV Valley Energy Center

Construction financing to empower natural gas and renewable energy operations

Challenge

CPV Valley Energy Center (CPV) in Waywayanda, New York required support in the development and financing of a natural gas-fired plant. The organization required a clean, reliable energy source to provide over 600k New York households with power. To achieve this goal would ensure long-term service and reliability and overall optimize CPV's energy production process. With the right financing and power generation combination, CPV Valley could even potentially reduce New York state greenhouse gas reduction goals if executed with the right solutions provider.

Solution

Siemens Financial Services (SFS), in partnership with Siemens' Power and Gas and Power Generation Services Divisions, provided an integrated solution to address CPV's business and financial needs. SFS committed a $80 million construction/term loan to help facilitate the energy centers’s development and construction. Supporting Siemens' divisions promised CPV to supply and service power generation technology for the natural gas-fired combined cycle power plant (CCPP). This partnership includes a gross installed electrical capacity of nearly 675 megawatts (MW) and a long-term service agreement for the major components of the plant (including parts, outage services, program management, engineering support and diagnostic monitoring). With the new plant scheduled for commissioning in the fall of 2017, the supporting Siemens divisions will deliver power island equipment that includes two SGT6-5000F gas turbines, one SST-6000 steam turbine, and three SGen-1000A generators.

Customer Benefits

SFS, in partnership with the Siemens divisions, has demonstrated its ability to be a one-stop shop, providing both equipment and financing solutions for a highly valued customer. Siemens' holistic solution will help CPV obtain their goals to power over 600k homes and reduce greenhouse gas emissions for the state of New York.

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