Fortress Transportation and Infrastructure Investors’ pursuit of the Long Ridge Energy Terminal combined-cycle gas turbine power plant project reached financial close on February 15, 2019.
The project involves the design, build, finance and operations of a 485 MW combined-cycle plant, which uses both a gas and a steam turbine to produce up to 50 percent more electricity from the same fuel than a traditional simple-cycle plant.
The project will be built in Monroe County, Ohio, USA, and will be one of the most energy efficient power plants of any type in the world. Multiple counter-parties have entered into long-term power purchase agreements with the project to secure the plant’s output.
Operis was pleased to perform a formal audit of the financial model to finance the development of the plant.
