FGE Power Announces Strategic Partnership With Starwood Energy Group To Finance And Build 1,500MW FGE Texas Project

Houston, TX /PRNewswire/ - FGE Power, LLC a Houston-based energy and infrastructure development firm and its wholly owned subsidiary FGE Texas, LLC, today announced that they have agreed to strategically partner with an affiliate of Starwood Energy Group Global LLC to finance and build two identical 747MW combined-cycle gas turbine (CCGT) facilities near the communities of Westbrook and Colorado City, in Mitchell County, Texas.

"We are excited and honored to announce our partnership with Starwood Energy, a globally-recognized and market-leading energy infrastructure investor who shares our goal of creating clean and renewable power generation resources," said Emerson G. Farrell, CEO & President of FGE Power.

The first phase of the two-phased power generation development, FGE Texas I (a 2x1 configuration 747MW CCGT facility), is anticipated to break ground for construction in the fall of 2014 and reach commercial operations no later than early 2017. The second phase (FGE Texas II) is a mirror image of phase one and is anticipated to break ground in early 2015 and will achieve commercial operations by the summer of 2017.

The FGE Texas 1,500MW project will deploy Alstom Thermal Power's next generation KA24-2 power platform which will be positioned among the most efficient CCGT's in all of ERCOT, and will enable ERCOT to meet the growing need for clean and sustainable energy resources in Texas. In addition to providing low cost and efficient power to ERCOT customers, FGE Texas has established new state and national standards for low emissions (as highlighted in the EPA Region VI's Press Release on April 29, 2014).

FGE Power, based in Houston, Texas, is an energy and infrastructure company focused on developing clean, innovative, and sustainable energy solutions. FGE differentiates itself with its adherence to a Triple Bottom Line approach that optimizes the economic, social and environmental impacts of its projects. FGE believes that new thinking and new approaches are required to drive sustainable solutions to power the planet. Empower Tomorrow. For more information www.fgepower.com