News | February 13, 2001

Mirant plans plant in Danville, VA

Mirant Corp. Monday announced plans to build a natural gas-fueled power plant in Danville, VA.

Initially, the Danville plant would consist of four generating units totaling 320 megawatts. The power plant could potentially have 870 megawatts of generation capacity when expanded to a "combined-cycle" configuration.

"Mirant provides cleaner, more efficient power in regions where new generation is needed," said Rick Pershing, chief executive officer of Mirant Americas. "The Danville area needs new plants, and these gas-fueled turbines represent one of the cleanest ways to make electricity on a commercial scale."

"This investment would create a myriad of benefits for Danville's future- significant new tax revenue, high quality jobs, economic diversification, electric generation capacity, natural gas capacity -- all packaged in a world-class economic development partner," said Danville Mayor John Hamlin.

The proposed Danville plant is part of Mirant's effort to have 30,000 megawatts of generation capacity in the United States by 2004.

Mirant initially would build the plant in a "peaking" configuration, meaning all the turbines would be available for rapid operation whenever demand for electricity is extremely high.

Combustion turbines produce waste heat that can be captured to drive a steam turbine in the "combined-cycle" configuration, enhancing efficiency even further. The conversion to a combined-cycle configuration would occur if the company determines that the power plant is needed for its day-to-day electricity production needs.

The power plant would be built on approximately 67 acres of land in the AirSide Industrial Park. Assuming timely completion of appropriate state and local permitting, Mirant plans to have the power plant working by 2003 or 2004.

"We have developed a solid win-win relationship with the Mirant team over the past several months," said Jerry Gwaltney, Danville city manager. "The benefits of the Mirant project extend well beyond the direct investment and job creation to their role in complementing the city's efforts to attract high-tech businesses. Mirant is a top-quality corporate partner that enjoys City Council's full support."

Mirant, formerly known as Southern Energy, is a global competitive energy company with leading energy marketing and risk-management expertise. With an integrated business model, Mirant develops, constructs, owns and operates power plants and sells wholesale electricity, gas and other energy-related commodity products. The company has extensive operations in North America, Europe and Asia. Mirant has a net ownership and leasehold interest in more than 18,500 megawatts of electric generating capacity around the world, including about 12,500 megawatts in the United States, with another 7,000 megawatts under advanced development.

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