Dominion intends to sell three fossil fuel-fired power plants, one in Massachusetts and two in Illinois. The company plans to complete the transactions in the first half of 2013 and to invest the proceeds in growth of the company's regulated businesses and reduce debt needs.
The power stations are the 1,536 MW Brayton Point power station (three coal-fired units and one gas/oil-fired unit), in Somerset, Mass., owned since 2005; the 1,158 MW Kincaid power station (two 579 MW coal-fired units), in Kincaid, Ill., owned Kincaid since 1998; the 1,424 MW Elwood power plant (nine 158 MW gas-fired units), outside Chicago; Dominion has owned a 50% interest in and operated the station since Elwood became operational in 1999.
Moreover, Dominion Virginia plans to convert its 227 MW Bremo power plant from coal to gas by spring 2014. The conversion project is estimated at $53.4m. It would reduce SOx, NOx and mercury emissions by 75%-85% by 2015.
Dominion has announced plans to shut down or convert all or part of five other coal-fired power stations and convert three small units to biomass. Coal-fired power stations that are scheduled to close by 2015 are Chesapeake Energy Center and two units at Yorktown Power Station in Virginia, and the North Branch Power Station in West Virginia. The three small Virginia power plants being converted to biomass by 2014 are in Altavista, Hopewell and Southampton County.
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