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Industry News

550 Megawatt Plant Planned for Arkansas

LCG, Nov. 9, 2001--A division of Dallas-based Genova Power Co. announced plans yesterday to consider a 50-acre tract for construction of a 550-megawatt power plant Tontitown, Ark.

The new facility will use two high efficiency gas turbines and one steam turbine in combined cycle and will be connected to the regional grid by American Electric Power Co. Inc. General Manager Jeffrey W. Schroeter said construction is expected to begin in the fall of 2002 with commercial operation projected to begin in the summer of 2004.

"This facility will take advantage of the latest advances in generating technology and will be state-of-the-art in every respect," Schroeter said. "Its gas turbines are considered to be among the most efficient and cleanest gas-fired machines in operation today."

The company said an average of 250 people would be employed during the 22-month construction phase and it plans to spend upwards of $12 million locally on goods and services during that period.

Once in operation, the base load plant will have an annual payroll of $1.6 million from 25 management level and skilled employees needed to operate it on a 24-hour-a-day schedule Schroeter said. In addition, the plant is also expected to create 75 off-site support positions.

The plant is expected to pay about $4 million per year in sales and use taxes and an additional $500,000 per year in property taxes. Another $1.5 million or so in local purchases will be made each year it is in operation, a circumstance not lost on Tontitown Mayor Dan Watson.

"This could be a real boon to our city," His Honor said. "Genova is a well-respected company. I am pleased with the prospect of having the opportunity to have this dynamic corporate partner as part of our community."

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