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PGE To Build Additional Natural Gas Plant At Port Westward

Stocks in this article: POR

Fifth graph, first sentence of release, the company name should read "Wärtsilä" (sted "Wärstilä").

The corrected release reads:

PGE TO BUILD ADDITIONAL NATURAL GAS PLANT AT PORT WESTWARD

Project selected through competitive bidding process to fulfill capacity needs

Portland General Electric Company (NYSE: POR) today announced its proposed Port Westward Unit 2 flexible generating resource, to be located near Clatskanie, was selected as the successful bid in a capacity request for proposals to help meet customer needs and provide system reliability. PGE will begin construction of the plant this year, and expects to have the new resource online in 2015.

Port Westward Unit 2 was the company’s benchmark proposal in a competitive bidding process seeking approximately 200 megawatts of flexible peaking capacity. The process was initiated in 2011 and overseen by an independent evaluator who reports to the Oregon Public Utility Commission.

“Port Westward Unit 2 will be an important, versatile resource to meet our customers’ current and future needs,” said Jim Piro, PGE’s president and CEO. “The new natural gas plant will be a highly efficient and environmentally responsible facility designed for maximum flexibility to help meet real-time fluctuations in customer demand and integrate variable renewable resources like wind and solar into PGE’s system. It will also serve as a ‘peaking’ resource during periods of high demand, helping maintain system reliability.”

The 220-megawatt plant will be located adjacent to PGE’s existing natural gas-fired Port Westward and Beaver plants in Columbia County. The project will create up to 200 new construction jobs, and is expected to cost between $285 million and $310 million, excluding allowance for funds used during construction.

Port Westward Unit 2 will use reciprocating engine gensets supplied by Wärtsilä. Black & Veatch and Oregon-based Harder Mechanical, as a contractual joint venture, will have the turnkey contract for construction of the project.

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