FPL Pennsylvania Power Project Loses Out to Real Estate Development

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Researched by Industrial Info Resources (Sugar Land, Texas)--Power developer FPL Energy (Juno Beach, Florida), a subsidiary of FPL Group Incorporated (NYSE:FPL) (Juno Beach), and the LS Power Group (East Brunswick, New Jersey) each had proposed construction of new 100-megawatt (MW) natural-gas-fired power plants in the Flats area of Coatesville, Pennsylvania. The companies each offered up to $10 million for the property. The projects would have had two turbine/generators with either one or two stacks.

However, because of aesthetic the city sold the space for $5.5 million to a local investment group, which plans to build a gated community, a mixed retail center and a river walk with a restaurant row. Assistant City Manager Kirby Hudson said that if the developers propose to build the power plant in the city's industrial area, they probably would not face the same dissent over aesthetics. A good location for a new power plant could be at an existing brownfield site. For example, ArcelorMittal USA, a subsidiary of ArcelorMittal (NYSE:MT) (Luxembourg), recently closed some of its Coatesville operations, which it is razing.

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