Peabody Nearing Full Commitments for Output from Planned Power Plant

1 decade 2 years 8 months ago Thursday, September 06 2007 Sep 6, 2007 Thursday, September 06, 2007 4:06:34 AM CDT September 06, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
ST. LOUIS (AP) - Peabody Energy says it's inching closer to having all of the output from a planned power plant in southern Illinois spoken for.The company says Southern Illinois Power Cooperative has bought an eight percent stake for 125 megawatts from the Prairie State project planned in Washington County, southeast of St. Louis.That brings to nearly 90 percent the amount of commitments for the 1,600-megawatt, coal-fired power plant, which is expected to cost $2.9 billion.Peabody has all major permits necessary to begin construction and expects to break ground next month. Construction is to take four years.Southern Illinois Power Cooperative is based near Marion, Illinois, and it serves members in 24 counties.Terms of its deal with Peabody weren't disclosed.

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