citizens of the Cedar Valley address the proposal for a coal burning power plant

Waterloo, Iowa

City Council meeting

May 7, 2007

 

 

 

c e d a r v a l l e y s p e a k s

Elk Run Energy/LS Power/Dynergy, St. Louis, Missouri
Mark Milburn, LS Power/Elk Run Energy Project Development Manager

1. LS Power Introduction
Thank you Mr. Mayor, thank you Council for the opportunity to ah, address you today to…share with you some of the basic, most important elements of our appliation for annexation and rezoning. My name is Mark Milburn. I’m the Project Development Manager for Elk Run Energy Associates. I do have with me today a number of staff from our office in St. Louis, as well as a number of consultants that we’ve engaged on various aspects of our project, and we’ll use them to help explain if there’s questions in particular, or maybe to explain a bit of my presentation. I’ll keep it brief so that we can get into other comments and questions. So I’ll kind of stick to my paper here so I can move it along quickly.

Elk Run Energy Associations is an affiliate of LS Power. We’re a private developer of independent power projects. We’ve developed more than ten power-generation facilities representing more then 63 megawatts of electrical capacity and $4 billion in capital investment. We currently own 6 operating facilities, throughout the U.S., and have a number of facilities, both coal fire, gas fire, wind generation, solar generation, under development as we speak. LS Power has a history of success, building strong relationships in local communities, and maintaining an excellent reputation on Wall St. We have a history of starting and completing reliable, economic, and environmentally-sound projects.

Here as you know, Elk Run Energy is requesting the annexation of approx. 345 acres and subsequently the rezone of approximately 260 of those acres to "M-2,P" (Planned Industrial District) plan.

Now some basic facts about the project we’re proposing.
A modern coal-fired, power generation facility. Up to 750 Megawatts of electrical capacity which is equivalent to about 500,000 homes that we could power with that facility. It’s more than $1 million in capital investment. The power from our facility would be sold on a wholesale basis to electric coops, electric utilities, municipalities, in Iowa and in surrounding states. We get a lot of questions about exactly who the customer are…how that works, how we supply power to the grid…

Let me just clarify that we’re a wholesale generator, we’re not a retail provider, we merely provide wholesale electricity to entities who resell it on the retail market. Construction of our facility could begin as early as 2008…And it would be about a 4-year construction process bringing it online, targeted at 2012.