PRESS RELEASE: ODEC, Mitsubishi Finalize Contract

ODEC President and CEO Jack Reasor, right,  and Mitsubishi CEO Koji Hasegawa at a contract signing for Wildcat Point's gas-powered turbines.

ODEC President and CEO Jack Reasor, right, and Mitsubishi CEO Koji Hasegawa at a contract signing for Wildcat Point’s gas-powered turbines.

(Glen Allen, VA)- Old Dominion Electric Cooperative (ODEC) finalized the terms of its agreement with Mitsubishi Power Systems Americas, Inc. at an official contract signing ceremony held on September 17, 2013 at ODEC’s Glen Allen, Virginia headquarters. Mitsubishi will supply two natural gas powered turbines and associated electric generators to ODEC’s proposed Wildcat Point generation facility.

Wildcat Point will be a natural gas power plant located in Cecil County, Maryland, adjacent to ODEC’s existing Rock Springs plant. The power plant will be one of the cleanest natural gas facilities of its size in Maryland and will generate approximately 1,000 megawatts, enough to power 390,000 homes in the region annually. The plant is expected to become operational in 2017.

President and CEO of ODEC, Jack Reasor and Koji Hasegawa, CEO of Mitsubishi power systems executed the contract in front of an audience of ODEC and Mitsubishi staff.

Said Reasor, “We are very pleased to enter into this agreement with Mitsubishi as the gas turbine supplier for Wildcat Point. Based on their position as a leader in power generation technology, we believe Mitsubishi is the right partner to help us supply reliable power through Wildcat Point.”

ODEC has experienced more than 26 percent growth in electricity sales over the last 10 years and expects additional growth over the next decade. Wildcat Point will provide ODEC’s 11 member distribution cooperatives a new source of reliable electricity, including 52,000 members on Maryland’s Eastern Shore.

About ODEC:

Headquartered in Glen Allen, Va., ODEC is a not-for-profit, member-owned wholesale power supplier to 11 member electric distribution cooperatives that provide reliable, affordable electricity to 1.2 million people in 70 counties in Maryland, Virginia and Delaware. Learn more at www.odec.com

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