Dynegy Inc. (DYN:US) and LS Power Group chose a site in Midland, Michigan, for a possible 750-megawatt power plant.
Mid-Michigan Energy, which is part of Dynegy and LS's development joint venture, said in a June 6 statement that a location of about 130 acres was picked for the baseload facility. The plant would be ready in 2012 at the earliest and will cost about $1.3 billion, Joy Buchanan, a project spokeswoman, said today in a telephone interview.
``The infrastructure is in place and the site is well positioned to provide needed electricity and steam to some of the state's important manufacturers,'' Janet Vanderpool, an LS Power project development manager, said in the statement.
Mid-Michigan is looking at using coal in a cogeneration process, and Vanderpool said it would be ``one of the cleanest coal-fired plants in the U.S.'' if built. Zoning requests have been filed with Midland.
Dynegy, based in Houston, completed its $3.66 billion purchase of power plants from New Brunswick, New Jersey-based LS in April.
Shares of Dynegy fell 34 cents, or 3.6 percent, to $9.10 in composite trading on the New York Stock Exchange.
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