• Alaska Coop Purchases Clean Coal Plant
  • March 3, 2014
  • Law Firm: Sutherland Asbill Brennan LLP - Washington Office
  • Golden Valley Electric Association (GVEA), based in Fairbanks, Alaska, recently purchased a 50-MW clean coal project from the Alaska Industrial Development and Export Authority, with the help of a $45 million, 30-year loan from the National Rural Utilities Cooperative Finance Corporation. The project, the Healy Unit 2 power plant, will be shored up with an additional $37 million in updates and is estimated to be online in 2015. GVEA’s president and CEO stated that it would cost more than $300 million to build a plant like the Healy Unit 2 today.