Coal, Executive Insight, Generation, Natural Gas

FPL will build $1 billion gas plant at site of old power plant

Florida Power & Light will build its Next Generation Clean Energy Center, a 1,277 MW combined-cycle natural gas-fired power plant, at the site of a retired, 1960s-era power plant.

The company said the new plant is expected to cost $1 billion and construction is planned to start in early 2014. The plant will cut carbon dioxide emissions in half and reduce emissions by more than 90 percent, FPL said in a release. It is expected to begin operations in June 2016.

The project will also create an estimated 650 direct jobs and 1,000 indirect jobs during the height of construction, and support many local businesses. And in the first full year of operation alone, this investment will deliver about $20 million in new tax revenue to local governments and school districts.

FPL previously announced that four smokestacks and boilers at the Port Everglades coal-fired power plant in Hollywood, Fla. will be demolished July 16.

The ’60s-era Port Everglades Power Plant was a four-unit oil and natural gas-fired power plant that was capable of generating 1,200 MW. It went into service between 1960 and 1965.