Onward Energy is acquiring the five-unit, 860 MW Broad River power generation facility in Gaffney, South Carolina. The simple-cycle peaking power plant is currently contracted under a long-term PPA with Duke Energy.

Broad River utilizes five GE 7FA.03 gas turbines. The units can be on the grid and supplying power within 15 minutes to help serve peak loads, according to Broad River Energy. The plant has once thru steam generators (OTSG) to produce steam, which is then sent back into the gas turbine. The company says this results an additional 15-20 MW per unit of power during summer peak months.

The acquisition would add to the 5 GW of U.S. solar, wind, and gas generation projects owned or operated by Onward Energy. The independent power producer’s portfolio includes 45 projects in 18 states.

“The Broad River power facility is a vital component of the region’s energy infrastructure, especially in supporting reliability when energy demands are at their strongest,” said Steve Doyon, CEO of Onward Energy.

CIT, a division of First Citizens Bank, served as lead arranger on $419 million in financing for the acquisition.

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