The Tennessee Valley Authority (TVA) successfully purchased a 700-MW combined-cycle power plant from Quantum Choctaw Power, an affiliate of Quantum Utility Generation. TVA will rename the facility Ackerman Combined-Cycle Plant.
Located in Ackerman, Mississippi, the plant features two gas-fired turbines and one steam turbine. Additionally, TVA has purchased electricity from the plant since 2008.
“The plant offers a strong strategic, operational and financial fit with TVA’s system and goal for a balanced asset portfolio,” said Bill Johnson, TVA president and chief executive officer (CEO). “This was an opportunity to acquire a power plant that already provides electricity to TVA at a price that is significantly less than it would cost to build a comparable plant.”
The acquisition includes flexibility for future ownership by Seven States Power Corp., a member-owned cooperative formed by local power companies served by TVA.
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