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The new gas plant should be in operation by 2019 and will consist of 485 MW of capacity, company officials said on Wednesday.

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EM-Power 2025

“This is a true win for Bridgeport — not only adding new clean energy to the grid, but creating jobs, tax revenue and general economic activity within the region,” Richard P. Lopriore, president of PSEG Fossil, said in a prepared statement.

At present there are three other coal-fired plants still operating in New England: Brayton Point in Massachusetts, and the Merrimack and Schiller facilities in New Hampshire.

The agreement between the city and PESG will lead to a $2 million fund to support projects at improving the environment for Bridgeport residents.