May 2017

Pictured is Mike McMasters, President and CEO, and one of the event’s speakers.

Commissioning Event at Eight Flags Energy CHP Plant

We celebrated the commencement of operations of the Eight Flags Energy CHP Plant, our first combined heat and power (CHP) plant. Attendees at the event were Executive Leadership, joined by employees; the Board of Directors; project partners; local and state governmental officials including Florida State Senator Aaron Bean and City of Fernandina Beach Mayor John Miller; and representatives from the Florida Department of Environmental Protection and the Florida Public Service Commission.

“This plant is one of the most energy-efficient cogeneration power plants in the United States, with a target efficiency of 78 percent,” said Jeff Householder, President of FPU. “I’m proud of the team of employees and partners who worked diligently to bring this project to fruition. It’s a resource that makes a meaningful impact, and we look forward to continuing to find ways to best serve our customers and the community.”

The CHP plant is powered by natural gas, highly regarded as one of the cleanest, safest and most efficient energy options. The natural gas provided by FPU and Peninsula Pipeline Company will produce three energy sources— electricity, steam and heated water.

Rayonier Advanced Materials purchases the steam and heated water for use in its nearby cellulose specialties production facility. FPU purchases the electricity for distribution to its retail customers in the area which will yield cost-savings and increased reliability.

“This CHP Plant, the first for the Company, is an example of our employees’ commitment to developing innovative ways to grow strategically while continuing to effectively deliver value to our customers, investors and the communities we serve.”

— Mike McMasters, President and CEO