Fenix Power

Project Details

Between 2012 and 2014, the Gray Oak Power team led the acquisition, development, financing, and construction of a premier 570 MW combined cycle power plant (543 MW net output). Constructed under an EPC contract by SNC-Lavalin, the facility was engineered to be the most efficient and one of the largest combined cycle power plants in its regional market.

Technical Configuration & Efficiency

The plant utilizes a sophisticated power block designed for maximum thermal efficiency and fuel flexibility:

• Main Power Block: Features two dual-fuel (natural gas or diesel) GE 7FA.04 heavy-duty turbines. Each is connected to a GE synchronous generator delivering 191.5 MW at 18kV.
• Steam Generation (STG): Includes two CMI heat recovery steam generators (HRSG) that capture 1,106°F exhaust gas. This steam drives a GE 7FH2-LD steam turbine-generator, producing an additional 190 MW.
• Performance Optimization: An integrated air chiller system cools incoming air, allowing the turbines to produce approximately 12 MW above standard site conditions.

Specialized Infrastructure & Community Impact

The project involved the development of comprehensive supporting infrastructure to ensure operational self-sufficiency:

• Desalinization Plant: A facility treating up to 2,500 m³ of seawater per day. It provides 400 m³ of demineralized water for plant operations and over 2,000 m³ of potable water daily to the local community.
• Grid & Fuel Interconnection: The site includes three step-up transformers (totaling 630 MVA), an 8km 500 kV transmission line, and a 3km gas distribution pipeline.

Commercial Strategy and Financing

In addition to physical construction and operation, the Gray Oak team managed the complex commercial and financial structuring of the asset:

• Energy Offtake: Secured multiple 10–12 year PPAs with a total capacity reaching 438 MW. These contracts were executed with AAA-rated regional distribution utilities.
• Fuel Supply Chain: Negotiated long-term 84.1 MMSCFD gas supply contracts along with firm transportation and distribution agreements with major regional providers.
• Capital Structure: Managed the development financing through a US$ 362 million Senior Secured Bridge Loan.

Following the successful transition to stable operations, the Gray Oak team oversaw the strategic sale of the project to a major regional power company in 2015.