FPL to Build New Coal Power Plant in Florida at a Cost of Between $2B and $3B
Florida Power & Light Co., the principal subsidiary of FPL Group Inc., on Tuesday said it plans to build a coal power plant in Florida’s Glades County at a cost of between $2 billion and $3 billion.
The plant would help meet Florida’s growing demand for electricity by providing power for more than 650,000 homes, the company said.
Construction is expected to take five years with the first 980-megawatt generating unit scheduled to become operational in 2012, and a second unit in 2013. The proposed FPL Glades Power Park will be built within a 5,000-acre site.
FPL said it plans to file a site certification application with the Florida Department of Environmental Protection by the end of 2006. Licensing takes between 12 and 18 months. The plant also must be approved by the Florida Public Service Commission and other local, state and federal agencies.
The completed plant will employ a full-time staff of 180, according to the company. The company also said that by the end of the year it expects to announce plans to build an additional nuclear power plant in Florida.
Shares of FPL dipped 2 cents to close at $44.40 on the New York Stock Exchange.
