Oglethorpe Power to build 605 MW natural gas fired power plant

Atlanta, March 10, 2010 — Oglethorpe Power Corporation will construct a new 605-MW, natural-gas-powered combined-cycle power generation plant in Georgia to help meet the growing energy needs of its members.

The corporation recently received final approval from its member EMCs to proceed with the project.

The power plant, which represents a capital investment of about $750 million (including interest during construction), will use natural gas to generate electricity and will gain additional efficiency by capturing waste heat from the combustion process and using it to generate more power. 

The final location for the project has not yet been determined. However, land already owned by Oglethorpe in Monroe County, as well as several other unspecified sites, will be considered.

Oglethorpe Power Chief Operating Officer Mike Price said combined cycle facilities offer many benefits, including high efficiency, low emissions and good track records for reliability. “We expect this facility to be an outstanding addition to our power generating portfolio, providing clean, reliable electricity for our member owners throughout the state,” Price said.

Over the coming months, Oglethorpe Power will be evaluating several potential sites for the plant, then will make a decision on a preferred location.

Construction on the facility would begin in 2013, and the plant would become operational in 2015. About 22 full-time employees would operate the facility. In addition, up to 250 workers would be needed during the roughly 30-month construction period.

Oglethorpe Power Corporation is a power supply cooperative with about $6 billion in assets serving 39 Electric Membership Corporations which, collectively, provide electricity to more than 4 million Georgia citizens.

The company’s energy portfolio includes natural gas, hydroelectric, coal and nuclear power plants with a combined capacity of about 5,500 MW, as well as purchased power. OPC was established in 1974 and is owned by its 39 member systems. It is headquartered in Tucker, Georgia.

 

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