MISSION ENERGY SIGNS DEAL FOR GAS-FIRED POWER PLANT FOR BROOKLYN NAVY YARD
MISSION ENERGY SIGNS DEAL FOR GAS-FIRED
POWER PLANT FOR BROOKLYN NAVY YARD
IRVINE, Calif., Oct. 21 /PRNewswire/ -- Mission Energy Co., a California-based independent power developer with a regional office in Fairfax, Va., has completed negotiations to build, own and operate a 286-megawatt natural gas-fired power plant as part of the Brooklyn Navy Yard revitalization project. The project will provide electrical power to Consolidated Edison Co. (NYSE: ED) of New York Inc., under existing power sales agreements, and steam to industrial customers and a district heating loop. Mission is working in partnership with a majority-owned affiliate of York Research Corp., a New York engineering firm which will be co-owner of the facility.
"We are very pleased to embark on this venture with York Research and look forward to working with Con Edison to supply reliable electricity to the New York area," said James S. Pignatelli, president and chief executive officer of Mission Energy Co.
The plant will foster economic development within the Navy Yard industrial complex and the surrounding community of Brooklyn, initially providing more than 800,000 pounds per hour of economical steam, as well as electricity to Domino Sugar, Con Edison and the Navy Yard.
The total project is expected to cost $370 million. The plant operation is scheduled for early 1995 and is anticipated to provide 50 full time jobs and approximately 300 construction jobs.
Mission Energy is using advanced gas turbines employing state-of- the-art pollution control technology supplied by the Siemens Power Corp. to limit air emissions to below federally and locally mandated limits.
Mission Energy is a wholly owned subsidiary of SCEcorp (NYSE: SCE), a publicly traded NYSE company that is also the parent company of Southern California Edison.
/CONTACT: Jim Scillaci of SCEcorp, 818-302-2515/
(SCE ED) CO: SCEcorp; Mission Energy Co.; Consolidated Edison Co. ST: California, New York IN: UTI OIL SU: CON
LS-JL -- LA043 -- 3226 10/21/92 20:23 EDT