10 July 2009– Tenaska said it will negotiate with the DOE to get anywhere up to $2.5 billion under the Loan Guarantee Program. Size of the loan will depend on final costs of the $3.5 billion Taylorville Energy Center.
The plant will convert coal into substitute natural gas that will be used to generate electricity. It will also capture up to three million tons of carbon dioxide each year.
Citigroup Global Markets Inc. was the financial advisor for the project.
The plant awaits final approval from the Illinois General Assembly next spring before it can close on the finance.