The developers say the plant would cost about $400 million to build and could power up about 600,000 homes. But they may have a hard-road ahead, as other proposed power plants in Silicon Valley have been knocked down in recent months, notably Calpine's Metcalf Energy Center in Coyote Valley south of San Jose. Although the San Jose City Council nixed the plant, it is still under consideration by the California Energy Commission, which could overrule the city's decision.
Bechtel and Calpine say they will give Hayward a break on power prices and $15 million toward the cost of a new library if the plant is approved. City officials and the Energy Commission must give it a thumbs-up before construction can begin.
If approved, the developers say they can have the plant up and running within three years.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
