Clean Energy Future - Lordstown LLC.
Equity solution for the development of the Lordstown Energy Center
Clean Energy Future - Lordstown LLC. (CEF) sought strategic partners for a fast-track program to develop and build a highly-efficient 940MW gas-fired combined cycle power plant in Lordstown, Ohio in response to the retirement of an aging fleet of coal-fired power plants.
Siemens provided CEF with a development loan under a joint initiative of Siemens’ Financial Services (SFS) and Siemens' Power and Gas Divisions (PG). SFS made a pivotal $125 million equity investment, alongside Macquarie Infrastructure and Real Assets, at financial close to facilitate the construction of the project. PG provided a turnkey EPC solution incorporating its H-class Flex-Plant technology making Lordstown one of the most efficient natural gas-fired power plants on the market.
Benefits for Customer
Siemens created a tailored “one-stop-shop” solution for the customer from equipment solutions to financing. CEF was able to deliver on its promise to bring jobs and clean energy technology to Lordstown and the state of Ohio.