According to The Macon (Ga.) Telegraph, Taylor Energy Fund LLC formally joined the project to build the plant. The fund is managed by Tim Taylor, who recently retired as president and CEO of Public Service Co. of Colorado.
Taylor Energy Fund will assume a 40 percent stake in the project and help finance any remaining development costs, including environmental permits and legal challenges, according to the article. Environmental groups, as part of a legal settlement, agreed to drop a lawsuit against Plant Washington. That is expected to be finished up within the next few weeks, the article said.
Construction on the project is expected to begin by April 2013, according to the article.
Read more new coal projects news