ecoPower still hoping to break ground on power plant this year
by IVY BRASHEAR Staff Reporter
HAZARD Officials with a Lexington-based company say they are still hoping to break ground on a new power plant in Perry County later this year.
ecoPower Generation announced the wood-burning power plant almost one year ago, but cannot begin construction until a power purchase agreement is made with the power company.
Grant Curry, ecoPowers vice president for fuel procurement, said the company must take out a loan to begin building their plant, but they cant get a loan until a 20-year power purchase contract is settled.
As soon as we get that power purchase agreement, we can get a loan to build the plant, Curry said.
ecoPower has already been granted all necessary permits to begin construction, such as air, emissions and land permits.
If the agreement is made and the plant is built, it will be located in the Coal Fields Industrial Park in Chavies and will provide enough energy to supply approximately 30,000 homes with electricity.
It has been estimated that construction of the plant could take up to three years, costing about $150 million. The plant will reportedly employ 40 full-time workers, and only waste wood and low-grade logs will be burned in the plant.
Curry said ecoPowers future in Perry County depends on the current negotiations with power companies, he said ecoPower fully intends for the project to continue and for the plant to be built.
We remain optimistic about the project and still hope to break ground on it later this year, Curry said.
Commentscomments powered by Disqus
Local Gas Prices