Grundy Reporter

Competitive Power Ventures (CPV) has released more details about the $1.3 billion electric generating facility being developed in Grundy County.

According to WCSJ News, the Three Rivers Energy Center will be a state-of-the-art, 1,250-megawatt natural gas-fueled combined-cycle generation facility will provide power for up to 1.25 million homes and businesses in Northern Illinois. The 120-acre project site is located south of Dresden Generating Station in Goose Lake Township. 

“CPV is pleased to announce the financing of CPV Three Rivers, continuing our string of success in bringing another state-of-the-art electric generating project that will modernize the nation’s electric grid by generating safe, reliable, cost effective and environmentally responsible electric power. This project located in Illinois and will serve the PJM market for years to come,” CPV CEO Gary Lambert said. “While the pandemic posed challenges throughout this process, we are thankful to our partners, lenders and host community for their perseverance and confidence in the success of this project.”

Over 500 union workers will be onsite during peak construction, and the facility will require a staff of 25 full-time employees, once fully operational.  Approximately 75 additional jobs will be created to provide ongoing support services to the plant.

“CPV Three Rivers will provide $1 billion in economic development and hundreds of good-paying, union construction jobs to Illinois over the next two years at a time when more than 1 million Illinoisans are unemployed,” state Rep. Larry Walsh Jr. (D-Joliet) said. “Energy has always been the backbone of Grundy County, and I support the expansion of all resource types to ensure grid reliability, bring new tax revenue streams to the state of Illinois and spur job creation that puts Americans back to work.”

The facility will employ GE’s high-efficiency HA turbine technology, which the company says has an efficiency rating of over 64%. CPV’s largest project to date, the plant will consist of two combustion turbines, two heat recovery systems, and two steam turbines.

"GE is honored to continue its relationship with Competitive Power Ventures by supplying advanced gas technology for CPV's third HA-powered facility," Scott Strazik, president and CEO of GE's Gas Power business, said. "Our relationship with CPV is built on proven results, and we are proud to be able to provide state-of-the-art technology, services and strategic financing to help develop complex projects like Three Rivers, which will provide reliable, affordable, and sustainable electricity to CPV's customers."

The project is scheduled to break ground immediately, and construction will be led by Kiewit Power Constructors Co. CPV expects the facility to begin commercial operation in 2023.

“The construction of CPV Three Rivers is an enormous undertaking and we are proud to partner with industry leaders CPV and Kiewit to build this project for our community,” Tim Drea, president of the Illinois AFL-CIO, said. “Working together, our focus will be on the health and safety of the more than 500 union workers who will bring their expertise to build one of the most advanced power generation projects in the country, right here at home.”