ST. CHARLES, MD—The St. Charles Cos. is selling76 acres in the Piney Reach Business Park toCompetitive Power Ventures for approximately $13million. CPV plans to build a 725 MW natural gas power plant on thesite.

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The contract for this deal was first executed in 2007.

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The project will be key for the business park, whose 700 acresare dedicated for light or heavy industrial use as well ascommercial use. The new power infrastructure will also likely leadto further economic development in the submarket, says St. CharlesCos. president Mathew Martin, in a preparedstatement.

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The plant "will provide our county and our region with areliable, clean source of electricity for decades to come," hesays. It is also being designed with sustainable elements, he adds,as it will use gray water provided by Charles County for cooling,"significantly reducing the amount of effluent released into thePotomac River and its tributaries."

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"Best of all, the plant will significantly expand the propertytax base of Charles County."

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