LORDSTOWN, Ohio (WKBN) – A major business deal impacting the Mahoning Valley was closed Thursday in New York City.

The Trumbull Energy Center closed on $1.2 billion dollars in financing. It will bring a second power plant to Lordstown.

“This is really big news,” said Lordstown Mayor Arno Hill.

The Lordstown Energy Center can provide enough power for 850,000 homes and businesses.
Now, it’s getting company next door. Bill Siderewicz of Clean Energy Future admitted that wasn’t easy. He was concerned about the deal as recently as two weeks ago. The main investors are from foreign countries who were trying to understand U.S. inflation, interest rates and currency values.

“It has been headwinds beyond anyone’s imagination and somehow we go to the finish line,” Siderwicz said. “Every single cost that goes into a plant like this has escalated probably close to 25-30% in the last six months.”

The Trumbull Energy Center will be about the same size, with roughly the same power-generating capability as the existing facility. That will give Lordstown two natural gas-fired plants for electricity generation, plus an EV assembly plant, and a battery plant.

“This kind of solidifies our position in Northeast Ohio as being an epicenter for electric,” Hill said.

Earth moving equipment will start work in late November or early December on the Trumbull Energy Center. Siderewicz worked through 19 months of litigation, a COVID delay, and then the interest rate environment to seal the deal, but he knew there was support from the groups that helped build the first plant.

“Then you really understand how the interactions work between all the different organizations, and so I think that helped us,” Siderwicz said.

Siderewicz has been involved in these Indpendent Power Production (IPP) projects for over 40 years. This is plant number 36. It should be online in early 2026.