A Fortune 500 power company will move forward in developing a natural gas power plant in Moundsville, marking an investment of more than $1 billion from the private sector into West Virginia’s economy, Gov. Patrick Morrisey announced Thursday.

Calpine LLC, a business unit of Constellation, is the company making the move, Morrisey said.

“This is the kind of private-sector investment that drives long-term growth for West Virginia,” said Morrisey. “By expanding our energy infrastructure and strengthening our power grid, we are creating real opportunities for workers, supporting local communities, and positioning our state to meet the growing energy needs of the nation.”

Calpine’s investment in the plant would exceed $1 billion and is expected to create more than 400 construction jobs along with approximately 25 permanent jobs once operational.

Since October, Morrisey has secured approximately $6.5 billion in new private-sector investment and nearly 7,000 projected new private-sector jobs for West Virginians. When combined with two major investment announcements from the Trump Administration (The Broadband Equity, Access and Deployment Program and the Rural Health Transformation Program), total investment commitments under Governor Morrisey have climbed to $8 billion, with more than 8,000 projected jobs.

The project was originally proposed in 2014 by a different developer, but it remained dormant for more than a decade. Calpine revived the project last year and is now advancing development based on improved market conditions and strong demand for reliable power generation in PJM, the regional grid operator.

“Calpine is moving forward with the project thanks to improved market conditions and Governor Morrisey’s 50 by 50 initiative,” said Suriyun Sukduang, Calpine Vice President of Origination. “Our strong history of building and operating gas-fired generation makes us a strong partner for a community that will benefit from a more reliable electric power grid, local jobs, tax revenues, and targeted philanthropic support that improves education, workforce development, environmental projects, and economic opportunity.”

The project represents one of the largest energy investments in Marshall County’s history and reflects West Virginia’s continued role as a key contributor to America’s energy security.