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.