Stake in a coal-fired power plant sells for just $1
New law on fossil fuel in Washington state sets off a fire sale
11 December 2019 - 16:51
New York — Washington state’s biggest utility is selling a stake in one of the US’s largest coal-fired power plants for $1, seeking to comply with a new state law requiring energy companies to stop using the fuel by 2025.
Puget Sound Energy agreed to sell its 25% stake in the 740MW Colstrip unit 4 facility to NorthWestern Energy, according to a statement on Tuesday. As part of the deal, Puget Sound will sign a five-year power purchase deal for 90MW of capacity from the plant, just under half of what it is selling...
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