Site to be Transformed Into one of the State's Largest Energy Storage Projects
SWEDESBORO, N.J., Dec. 2, 2022 /PRNewswire/ -- New Jersey state dignitaries, environmental advocates and energy executives gathered today at the Logan Generating site in Swedesboro, NJ to witness the implosion of the State's last operating coal fired power plant. Event speakers including: Himanshu Saxena, CEO of Starwood Energy, the owner of the Logan Plant, Frank Minor, Mayor of Logan Township, Ramón Cruz, President of the Sierra Club, and Joseph Fiordaliso, Board President of the New Jersey Bureau of Public Utilities, all marked the event as the end of an era, signaling the acceleration of a clean energy future for New Jersey and the Region.
Mr. Saxena recounted a brief history of the plant, which began operations in 1994. He also praised state policy makers, environmental advocates and Atlantic City Electric for the years of effort that created a framework for this historic moment.
"We wanted to respond to the clarion call for aggressive decarbonization actions which is a major component of the Murphy Administration and the New Jersey Bureau of Public Utilities Clean Energy Master Plan," said Mr. Saxena. "Working with numerous stakeholders, we developed a win-win plan that created an early and permanent retirement of the Logan plant and resulted in one of the State's single largest CO2 reduction measures. And now, in accordance with New Jersey's Legislative Mandate to implement urgently needed energy storage for grid security and to accommodate and maximize the benefit of the huge influx of incoming renewable energy including from offshore wind, our company will work with Energy Management, Inc. to transform this site into one of the largest energy storage projects anywhere on the East coast."
"The Logan demolition today marks the end of the coal era in New Jersey and a major step towards the state's clean energy future," said Mr. Cruz. "Battery storage will play an instrumental role in bolstering a clean grid, all without polluting our air or endangering the health of vulnerable communities. Sierra Club encourages other states to follow this example. By continuing to act now, New Jersey can be a national leader on clean energy and ensure a just transition for all."
Mr. Fiordasilo said: "The action we are taking today marks a historic milestone for New Jersey - I want to thank Starwood Energy Group, my fellow Commissioners and everyone here today who is contributing to a better and cleaner future for generations to come. With Governor Murphy's commitment, our common goals, and collective action, New Jersey is leading the way. Today we have taken a massive step in the right direction that will pave the way for New Jersey's clean energy future."
At 10:58 AM, a wailing all clear siren could be heard in the distance around the coal plant. At 11:00 AM, witnesses watched as Mr. Fiordasilo pushed the symbolic demolition button and the coal plant and tall stack imploded into a sliding heap emblematic of the moment's significance.
About Starwood Energy Group
Starwood Energy is a private equity investment firm based in Greenwich, Conn., that specializes in energy infrastructure investments. Through its existing general opportunity funds and affiliated investment vehicles, Starwood Energy has raised in excess of $3 billion of equity capital and has executed transactions totaling more than $8 billion in enterprise value. For more information, please visit www.starwoodenergygroup.com
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SOURCE Starwood Energy Group Global, LLC