A unit of
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.
Both projects will be interconnected with the
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