Published:
BP Buys Whiting Clean Energy Power Plant in Indiana
WHITING, Ind., July 1 /PRNewswire-FirstCall/ -- BP Alternative Energy
today announced that it has acquired the Whiting Clean Energy facility, a 525
megawatt (MW) natural-gas fired combined-cycle cogeneration power plant
located inWhiting, Indiana. The plant was acquired for $210 million from
NiSource Inc., a Fortune 500 company engaged in natural gas transmission,
storage and distribution, as well as electric generation, transmission and
distribution.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000724/NYM120LOGO )
The Whiting Clean Energy facility provides an efficient and consistent
source of steam for BP'sWhiting refinery. The acquisition also offers BP the
opportunity to sell lower-carbon power into the local power market.
"BP's purchase of the Whiting Clean Energy facility will enhance the
efficiency of ourWhiting refinery and serve as a reliable source of energy
for the Midwest," said Bob Malone, BP America president and chairman.
BP has received all necessary approvals from regulatory authorities
including consents from FERC and the Federal Trade Commission and has taken
over the day-to-day operational control of the plant. No staff reductions are
expected as a result of the acquisition.
BP purchased Whiting Clean Energy after exercising its right of first
refusal with NiSource. The investment is consistent with BP's strategy of
owning cogeneration projects that enhance energy efficiency and minimize the
company's global emissions.
BP America/BP Alternative Energy
BP America is the largest producer of oil and gas inthe United States and
one of the nation's largest energy investors. BP Alternative Energy, launched
in November 2005, combines all of BP's interests in low and zero-carbon energy
including wind, solar, hydrogen power with carbon capture and storage, natural
gas-fired power generation, biofuels for low carbon transport and distributed
energy for emerging markets. BP Alternative Energy is one of the leading wind
developers in the US and has portfolios inEurope,Asia &Latin America. BP's
US wind portfolio includes the opportunity to develop almost 100 projects with
a potential total generating capacity of 15,000 MW. For more information
about BP Alternative Energy, visit us at: www.bpalternativenergy.com
SOURCE BP
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Copyright © 2008, NewsBlaze,
Daily NewsTags: Oil, Gas and Energy, Real Estate, , indiana
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