BROOMIELAW, Scotland, May 10, 2004 (PRIMEZONE) -- ScottishPower's US regulated subsidiary, PacifiCorp, today announced it has approved the development and construction of a new 534 MW natural gas-fired combined-cycle gas turbine (CCGT) generation plant to be located near Salt Lake, City, Utah, named Lake Side.
PacifiCorp intends to enter into an asset purchase and sale agreement with Summit Vineyard LLC (Summit) of Denver, Colo., to develop the plant, and with Siemens Westinghouse Power Corporation to construct the plant. The cost of the plant, including electrical and gas grid connections, is expected to be approximately $330 million and title to the plant will be transferred to PacifiCorp upon completion.
The Lake Side Power Plant was selected as the best option from 53 offers submitted to PacifiCorp as part of the company's requests for new base load resources to be on line for summer 2007. Summit and Siemens Westinghouse Power Corporation have built 12 plants together over the past six years. PacifiCorp is expected to operate the plant and Siemens-Westinghouse Power Corporation will provide a long-term service agreement.
PacifiCorp expects to file the regulatory approval requests with the Utah Public Service Commission during May 2004.
PacifiCorp President and CEO Judi Johansen commented, "The Summit Vineyard LLC proposal is the best option to meet PacifiCorp's long-term resource requirements for our customers. The independently overseen request for proposal process identified several contenders, and the Lake Side project offers the best cost and risk balance for our customers."
This information is provided by RNS
The company news service from the London Stock Exchange