Final Step Approved in NTE Reidsville Energy Center Project

During its meeting on May 15, the Rockingham County Board of Commissioners approved a Utilities Agreement between NTE Carolinas II, LLC and Rockingham County.  The Utilities Agreement outlines the actual construction and operation of the new water infrastructure, as well as notices, progress reporting, and charges to be paid by the company for connecting to and utilizing the new water Infrastructure as agreed upon by Rockingham County and NTE Carolinas II, LLC.  The approval of this Utilities Agreement is the final step in the process to obtain water and wastewater services for the new Reidsville Energy Center, which will be located on Highway 65 in Rockingham County.

NTE Energy and Rockingham County announced plans for the new energy center in July 2016.  NTE plans to construct, own and operate the Reidsville Energy Center, an approximately 500 megawatt natural gas fired electric generating facility in Rockingham County, North Carolina. The Reidsville Energy Center will be one of the cleanest and most efficient sources of capacity and energy in the Carolinas. Once complete, the facility will be capable of powering approximately 450,000 homes and represent an investment of over $500 million, providing numerous benefits to the surrounding communities and their economies.

“NTE is excited to have the Utilities Agreement approval, and to continue working with Rockingham County on the project,” said Seth Shortlidge, CEO of NTE Energy. “We look forward to bringing the Reidsville Energy Center to the Reidsville area, as it will provide many economic benefits to its communities.”

“The Rockingham County Board of Commissioners is pleased to reach this final step on the NTE project and is excited to see the company break ground.  This is a great company to have in our community and we are confident that the new Reidsville Energy Center will provide a boost to our local tax base for many years,” said Mark Richardson, chairman of the Rockingham County Board of Commissioners.

During the construction phase, the Reidsville Energy Center is expected to create approximately 300 construction industry jobs. The majority of construction jobs are expected to be filled by members of the local community.  Upon completion, the project is slated to add approximately 15-25 full-time jobs to the Rockingham County area, most of which are expected to come from the local workforce.

NTE plans to begin construction as early as 2017 and become fully operational in 2021. The Reidsville Energy Center will be very similar to NTE Energy’s Kings Mountain Energy Center, currently under construction in Kings Mountain, NC and NTE Energy’s Middletown Energy Center, currently under construction, in Ohio.

About NTE Energy

NTE Energy develops and acquires strategically located electric generation and transmission facilities within North America. The team executes all aspects of project development, from initial market and site evaluations to permitting and financing, as well as construction and operation. NTE Energy has completed development, and begun construction on the Middletown Energy Center, located in Southwest Ohio, and the Kings Mountain Energy Center located in Cleveland County, North Carolina, and is actively developing projects located in Connecticut, North Carolina, Ohio, Florida and West Texas, as well as pursuing early-stage opportunities in several other locations. For more information or media inquiries, visit www.nteenergy.com. For Commercial inquiries, contact Mike Bradley, SVP Commercial at 770-517- 9636 or mbradley@nteenergy.com.

 

 

 

 

 

 

TigerTek Industrial Services, LLC Expands in Stoneville

TigerTek Industrial Services, LLC, a national and international leader in industrial motor repair and other services, announces plans to expand  its Rockingham County facility in Stoneville. TigerTek, which is owned by Omnivest, LLC, plans to invest over $530,000 in new machinery and equipment and create four new, full-time jobs by the end of this year.

“TigerTek’s expansion is great news for them and Rockingham County.  The company has been a good citizen in this community for 34 years. My fellow commissioners and I appreciate TigerTek’s commitment to stay and invest here.” said Mark Richardson, chairman of the Rockingham County Board of Commissioners.

“We are very proud of our TigerTek team, excited to be a part of the Rockingham County family and remain committed to investment and growth.  We are grateful for the support from the business and economic development leaders of this community,” said Banks Kluttz, Chief Operations Officer of Omnivest, LLC.

Headquartered in Stoneville, TigerTek was established in 1983 and currently has 31 employees.  Often described as a hospital for industrial equipment, Tiger Tek is now a leader in providing industrial repair services to manufacturing plants throughout the world and specializes in repairing electric motors, servo-motors, gearboxes, pumps, hydraulics and electronic controls. The company also has a machine shop for fabricating custom precision parts.  Its customers include manufacturing facilities, municipalities, universities, food plants, and plastic and chemical plants.

“We are thrilled to see a company like TigerTek growing and expanding once again in Rockingham County.  This company has been committed to our community for over 30 years now and we are especially grateful for their continued investment here,”  said Jan Critz, director of Rockingham County Economic Development & Tourism.

Rockingham County will provide a total post-performance incentive to TigerTek of $8,981.01 to be paid out in annual installments of $2,245.25 over four years.  The company must first meet the investment and job requirements to receive payments.