HomeMy WebLinkAbout2.a. Great River Energy Power PlantCITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR DISCUSSION
COMMITTEE OF THE WHOLE: AUGUST 13, 2003
AGENDA: GREAT RIVER ENERGY
POWER PLANT UPDATE
AGENDA SECTION:
DISCUSSION
PREPARED BY: JAMIE VERBRUGGE, CITY ADMINISTRATOR
AGEN
P " 2
ATTACHMENTS: MODIFIED PROPOSAL OUTLINE
APPROVED BY:
— 2��—
Great River Energy has informed the City that it intends to modify the proposal to construct a natural gas -
burning power plant in Rosemount.
Rick Lancaster of Great River Energy has requested an opportunity to meet with the City Council to share the
reasoning behind the project modification and its implications.
RECOMMENDED ACTION: No action requested.
COUNCIL ACTION:
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Modified Proposal
Original proposal
— 600 MW combined -cycle power plant
— 2007 commercial operation
— operate up to 60% of the time
— file for permits 7/03
— $400 million capital cost
Modified proposal
— 150 MW simple -cycle power plant operational in 2007
— 150 MW simple -cycle power plant operational in 2009
— operate up to 10% of the time
— file for permits in 6/04
Confidential
— $90 million for first 150 MW project (includes BOP /interconnects
to support next 150 MW project)
— purchase 175 MW from Minnesota Power
GREAT RIVER
ENERGY' .�
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Modified Plans
*11*10"
Confidential
Minnesota Power made 175 MW unsolicited offer to
GRE
— competitively priced
— base Ioad /intermediate energy supply
— from existing plants (coal- fired)
GREAT RIVER
ENERGY'
Decreases exposure to natural gas market by switching
from combined -cycle to simple -cycle
Easier to finance $91 million (initially) than $400 million
2
Confidential
ons -CC to SC
1 /5th the emissions at power plant
substantially reduced water consumption
1 no cooling towers
smaller plant footprint
GRE RIVER
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Confidential
Will seek new personal property tax exemption from
Legislature in `04
Begin filing permits in June of `04
if
GREAT_RIVER
EN ER GY' 4
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