RALEIGH, N.C., Sept. 24, 2001 – Progress Energy subsidiary DeSoto County Generating Company has signed a contract with Florida Power & Light Company to provide peaking generation to FPL from a plant currently under construction.
Progress Energy announced in July that it is building a plant to include two 150-megawatt (nominal output) combustion turbine peaking generators at a site in DeSoto County, Fla., about 50 miles east of Sarasota. Environmental permits and zoning have been approved for the plant site, and construction is under way. The plant is expected to be complete in June 2002, to coincide with the start of the contract.
The agreement with FPL calls for the firm delivery of capacity and energy from the two units from June 2002 through May 2005, with two-year extension options. The plant will utilize natural gas with the capability of light oil as an alternate fuel. No other details about the contract were made public.
Progress Energy is a Fortune 250 diversified holding company headquartered in Raleigh, N.C., with more than 20,000 megawatts of generation capacity and $7 billion in annual revenues. The company’s diverse portfolio includes two major electric utility companies, CP&L and Florida Power, as well as NCNG, SRS, Progress Rail, Progress Telecom and an important new organization, Progress Ventures, which was created to manage fuel extraction, manufacturing and delivery; merchant generation; and energy marketing and trading. These companies serve 2.8 million customers across the Southeast, providing electricity, natural gas, energy services and broadband capacity. For more information about Progress Energy, visit the company’s Web site at http://www.progress-energy.com .
SOURCE: Progress Energy, Inc.