29 November 2007 — The Victorville City Council has authorized $173 million to buy natural gas-fired turbines from General Electric for its massive power plant project north of the former George Air Force Base. Total construction for the entire plant, to be completed by 2010, is expected to reach $800 million.
The contract comes before any permit has been issued for the 550-MW project by the California Energy Commission.
If the city decides to own the power plant, the $800 million construction financing will be paid back with revenue from the power plant. If the city sells it, the financing will be paid back with a 1 percent property tax revenue on the plant.
The cities of Riverside, Los Angeles, Anaheim and Alameda are among several that own their own power plant operation.
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