American Municipal Power (AMP) has suspended plans to build a natural gas-fired power plant in Meigs County, Ohio and is instead planning to buy another natural gas-fired power plant that is nearing completion.
AMP signed a non-binding memorandum of understanding and is continuing to negotiate to buy the 707 MW Fremont Energy Center in Ohio owned by FirstEnergy. The plant is expected to be complete by the end of 2011.
Fremont was previously owned by Calpine Corp., which filed bankruptcy in 2005 and suspended construction on the plant before it was auctioned in 2007. FirstEnergy had the winning bid.
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