Newspaper article THE JOURNAL RECORD

Dallas Firm May Build Chickasha Power Plant

Newspaper article THE JOURNAL RECORD

Dallas Firm May Build Chickasha Power Plant

Article excerpt

Officials with Dallas--based Genova Power announced Thursday that the company may build a 550-megawatt electric power plant generating facility on a 50-acre tract about two miles east of Chickasha.

Genova Oklahoma I, a division of Genova Power, could begin construction on the facility as early next fall with commercial operations beginning in the summer of 2004.

Jeffrey W. Schroeter, general manager, said the economic impact of the facility would be felt immediately and would extend throughout its projected 30-year service life. Schroeter said to build a generating plant of this size requires an average of 250 workmen over a 22-month period. In addition to their salaries, the company normally spends upwards of $12 million locally on goods and services.

Once in operation, the highly computerized plant would have an annual payroll of $1.6 million for the 25 management level and skilled employees needed to operate it on a 24-hour-a-day basis. Approximately $1.5 million a year in local purchases would also be made.

The Genova executive said the facility would also pay some $4 million a year in sales, use and property taxes.

Chickasha Mayor Jim Parker said that the plant's impact as an economic development stimulus could be even more important than even its impact on direct employment and tax revenue.

"A facility like this could become the foundation of the infrastructure necessary to meet the power demands of today and tomorrow. It would certainly make Chickasha very attractive to companies looking at relocation possibilities," he said.

Schroeter said the company's gas-fired plants are designed to use two high-efficiency gas turbines and one steam turbine in combined cycle. At the heart of the plant, its gas turbines would be equipped with Dry Low NOx combustion systems and Selective Catalytic Reduction for optimum emissions control.

The plant's power, which would be enough to meet the needs of 300,000 homes, would be distributed to the regional grid by American Electric Power.

Genova Power is a power plant development company based in Dallas. Genova's limited partner is Hunt Power L.P. of Dallas, a privately held company affiliated with Hunt Consolidated Inc. Under the direction of Hunter L. Hunt, Hunt Power develops projects in the electric power industry and seeks opportunities to partner with and invest in companies active in the industry. …

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