South Mississippi Electric Power Association to Participate in LS Power's Plum Point Energy Station Through 200 MW Power Purchase Agreement
ST. LOUIS (August 2, 2006) Plum Point Energy Associates, LLC ("Plum Point"), a member of the LS Power Group ("LS Power") of St. Louis, Missouri, announced today that it has signed a 30-year power purchase agreement with South Mississippi Electric Power Association. The power purchase agreement provides South Mississippi Electric with 200 MW from the 665 MW facility, due for commercial operation in mid-2010.
"We are very pleased to have South Mississippi Electric participate in the project," said Jason Hochberg, president of LS Power. "Plum Point, when complete, will be one of the cleanest coal-fired units in the country and one of the lowest variable cost units in the region. Customer interest for the remaining output is strong, and we anticipate signing additional long-term contracts in the near term."
Plum Point broke ground on the 665 MW pulverized coal facility in March and has sold tenancy in common interests in the project to East Texas Electric Cooperative, Inc., the Missouri Joint Municipal Electric Utility Commission, The Empire District Electric Company, and the Municipal Energy Agency of Mississippi. Approximately 80 percent of the project has now been sold under long-term contract or through tenancy in common interests.
LSP Services Plum Point, LLC, an affiliate of LS Power, is managing construction and will manage operation of the project. The project is being constructed pursuant to a turnkey engineering, procurement and construction contract with Plum Point Power Partners, a joint venture of Zachry Construction Corporation, Black & Veatch, and Gilbert Central Corp, an affiliate of Kiewit Construction Company.
The signed agreement with South Mississippi Electric is subject to approval of the Rural Utility Service.
The LS Power Group
In addition to the Plum Point Energy Station, members of the LS Power Group have coal-fired projects in advanced development in Texas, Georgia, Nevada and Iowa. Founded in 1990, the LS Power Group is a fully integrated power plant owner, developer and manager. For information on the LS Power Group and Plum Point, please go to www.lspower.com.
LS Power Group Contact