Dynegy - Key Backer For Nevada Coal-Fired Power Plants - Pulls Out Of Project - LVRJ

[hatrack]

A key backer for one of three coal-fired power projects in Nevada announced Friday that it was ending its participation in the project.

Dynegy Inc. of Houston said that it and LS Power Associates of East Brunswick, N.J., are dissolving their development joint venture for the Nevada generation plant and other new projects. The joint venture was developing the 1,600-megawatt White Pine Energy Station near Ely and the Southwest Intertie Project, a transmission line that could provide the first direct connection between electric utilities in Southern Nevada and Northern Nevada.

LS Power will acquire full ownership and development rights for the White Pine project, the transmission line and new developments in four other states as a result of the dissolution. The New Jersey company will continue work on the transmission and power plant projects in Nevada, Mark Milburn, LS Power's project development director, said.

"We're 100 percent committed to all of our Nevada projects," Milburn said. "Nothing changes on the ground." "It just kind of allows us to do what we do best," which is develop new power plants and transmission lines, he said. Dynegy is more focused on operating plants it owns, rather than on developing new ones, he said.

EDIT

http://www.lvrj.com/business/37036324.html

[kestrel91316]

1. As a daughter, granddaughter, great-granddaughter, and

great-great-granddaughter of White Pine county residents, all I can say is:

YAAAAAAAYYYYYYYYYYY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

:woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo:
:woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo:
:woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo:
:woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo:
:woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo:
:woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo:
:woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo:
:woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo::woohoo: :woohoo:

[kestrel91316]

2. Now we cross our fingers and hope for LS to throw in the towel.