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A unit of

Teco Energy


will acquire


interests in two independent power projects being developed in Arkansas and Mississippi and will invest about $330 million.

The combined capacity of the two plants, known as the McAdams and Dell projects, will add up to nearly 1,200 megawatts. The natural gas-fired, combined-cycle plants are expected to begin commercial operation during the second half of 2002.

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Both projects will be interconnected with the


(ETR) - Get Entergy Corporation Report

transmission system and will be able to sell electricity to wholesale customers in the Southeast and Midwest.

Shares of Teco were recently up 56 cents, or 2%, to $27.94 in

New York Stock Exchange