JACKSON, Mich., Dec. 14, 2012 /PRNewswire/ -- Consumers Energy announced today that it plans to build a major new natural gas-fired power plant in Genesee County. The company estimates it will invest about $750 million in the project.
The utility plans to develop a 700 megawatt power plant in Thetford Township, which is about 20 miles northeast of Flint.
The project is expected to create about 600 construction jobs. The bulk of the construction jobs are expected to be filled by members of skilled trades unions. When completed, the proposed power plant also would create an estimated 30 operating jobs.
Consumers Energy owns the 272-acre Thetford Township site, which features access to high-volume natural gas delivery and high-voltage power transmission lines. The site already is home to nine smaller natural-gas fired combustion turbine units.The current project schedule calls for construction to begin in 2015 and for the new combined cycle power plant to begin serving Consumers Energy's electric customers in 2017. At 700 megawatts, the proposed plant would be able to serve a community of about 445,000. Development of the power plant is contingent upon the company obtaining:
- An air permit from the Michigan Department of Environmental Quality (MDEQ)
- A certificate of necessity from the Michigan Public Service Commission (MPSC)
- Suitable financing
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV