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Tuesday, July 31, 2018

Second Lordstown Power Plant Project Still Facing Legal Battle

From Business Journal Daily:
Should the majority owner of the Lordstown Energy Center reconsider and agree to invest in another project similar in scope eyed for the village of Lordstown, all legal matters affecting construction of a second electrical-generation plant there would be resolved. 
So says Bill Siderewicz, president and CEO of Clean Energy Future LLC, which developed the Lordstown Energy Center and wants to proceed with development on a second, $900 million plant on adjoining land along Henn Parkway. 
At issue is the Australian investment firm Macquarie Group, which Siderewicz accuses of attempting to quash the second project by refusing to allow the plant, named the Trumbull Energy Center, to be built on land Macquarie owns at the Lordstown Industrial Park.

“They’ve stalled it for a year,” Siderewicz says. 
He adds that Macquarie has the first right of offer to invest in the second plant, but has refused to do so. Instead, the firm has impeded construction of the Trumbull Energy Center because it says it would leave it at a competitive disadvantage once the Lordstown Energy Center begins production, which could be late August or early September.

3 Mins - Bill Siderewicz from The Business Journal on Vimeo.



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