NTE Carolinas entered into a long-term PPA with the City of Concord, North Carolina. Under the terms of the agreement, NTE's Kings Mountain Energy Center will provide Concord with electric generation services for an initial 20-year term. In July 2014, NTE secured an equity investment for its three natural gas-fired power plants, including the Kings Mountain Energy Center, from Capital Dynamics and Wattage Finance. Construction of the facility is anticipated to begin in the second-quarter 2015, and commercial operation is scheduled to begin in the first-quarter 2018.
Kings Mountain Energy Center
NTE Energy plans to develop, own and operate the Kings Mountain Energy Center, located in Cleveland County, NC. The new energy center will utilize a M501GAC advanced combustion turbine and a Mitsubishi steam turbine in combined cycle configuration. The power generation equipment will be supplied by Mitsubishi Hitachi Power Systems Americas (MHPSA). NTE Energy has begun the permitting process and submitted its transmission interconnection request to Duke Energy Carolinas. The project is planned to begin construction in 2015 and become fully operational in 2018.