Officials to Cut Ribbon on Power Plant

Posted: Updated:
(rendering courtesy Toyota Tsusho Corp.) (rendering courtesy Toyota Tsusho Corp.)
NEW CARLISLE -

St. Joseph Energy LLC will Wednesday join officials from throughout the state to cut the ribbon on the $700 million first phase of a new natural gas-fired power facility in northern Indiana. The company says the St. Joseph Energy Center in New Carlisle will be able to generate more than 700 megawatts of clean, unsubsidized energy for approximately 500,000 households.

The project, which will cost an estimated $1 billion once the second phase is complete, is a collaboration between private equity group Ares EIF and Japan-based Toyota Tsusho Corp. The first phase of the facility created 21 full-time positions.

Construction has not yet begun on the second phase of the project, though a spokesperson for St. Joseph Energy tells Inside INdiana Business work is not expected to take as long as Phase 1 since much of the preparation work has been completed. The second phase is expected to create additional permanent jobs and effectively double the center's output.

The project is being entirely self-funded by St. Joseph Energy. The spokesperson says the company covered the cost of three miles of water line installation from New Carlisle to South Bend. It also built a $10 million water plant and donated it to the town of New Carlisle.

Indiana Secretary of Commerce Jim Schellinger will be on hand for the ribbon cutting, along with developers and state and regional leaders. The ceremony is scheduled for 2:30 p.m. Wednesday.

  • Perspectives

    • How to Ensure Proper 401(k) Benefits Education

      From pay rate to wellness programs, there are many important areas that employers need to pay attention to regularly; however, there is one that is often forgotten — 401(k) benefits. A 401(k) plan provides employees with the opportunity to deduct a portion of their pay and use it as a contribution towards retirement. Properly saving for retirement is vital to ensuring a healthy lifestyle after an employee’s career comes to an end, but 50 percent of Americans claim to not...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Hoosier Schools Among 'Best Colleges in America'

      Nearly two dozen Hoosier institutions are included in MONEY magazine's rankings of the Best Colleges in America. More than 700 schools are on the list, which was determined by a number of factors in three categories, including quality of education, affordability, and outcomes.

    • I-69 Delays Causing More Bloomington Traffic Problems

      Construction to complete section 5 of I-69 will take longer than expected and will impact students returning to IU. The "substantial completion" date for the stretch of interstate was August 31, but INDOT officials now say despite an accelerated schedule of 16-hour work days and six-day work weeks, the work won't be done for several more weeks.  INDOT says the construction will pose challenges for drivers in and around Bloomington through the end of the ...

    • (Image courtesy of Inc.)

      Hoosier Companies Part of Inc. 5000

      An annual ranking of the fastest-growing private companies in the country includes 63 Hoosier businesses. Greenwood-based The Garrett Companies is again tops among Indiana companies on the Inc. 5000 list, breaking into the top 10 in the U.S. for the first time. Its number 10 national ranking is the highest for an Indiana-based business since 2016 when eLuxurySupply.com in Evansville placed fourth.

    • (Rendering of phase two of the Riverfront Fort Wayne project provided by the city of Fort Wayne.)

      Fort Wayne Riverfront Contract Pulled

      A proposed $2.5 million contract for the design work for the next two phases of the Riverfront Fort Wayne project has been pulled. Our partners at WPTA-TV report the Fort Wayne City Council withdrew the contract, which was set to go to Philadelphia-based DAVID RUBIN Land Collective.

    • Indy Airport Poised For Another Record Year

      A new report shows the Indianapolis International Airport is on pace to break last year's passenger traffic record. Through the first half of the year, the Indianapolis Airport Authority says passenger totals have risen 7 percent on the backs of record-breaking April, May and June traffic figures. In 2017, 8.77 million passengers flew through IND. In an interview with Inside INdiana Business, Executive Director Mario Rodriguez attributed the increases to...