MARQUETTE, MI-- The Presque Isle Power Plant in Marquette is staying open.
The WE Energies plant has outdated air quality control components that are too expensive for the company to fix. But at a press conference at NMU Tuesday officials announced that WE Energies has signed an agreement with Wolverine Power Cooperative of Cadillac, which will invest $130 to $140 million to retrofit the plant’s units to meet environmental standards.
WE Energies Executive Vice President Allen Leverett says the agreement prevents lost taxes, contracts, and jobs in Marquette.
“So obviously the investment in the controls will create construction jobs,” he says, “but certainly, for me at least, more importantly, because the employees of WE Energies will continue to operate the plant, that’ll mean job security for them moving forward.”
Wolverine President and CEO Eric Baker says the deal will give his company one-third ownership of the plant and will allow Wolverine to replace energy sources from other states.
“We are thrilled that this project in Marquette can fulfill Wolverine’s goal of developing clean, affordable base load power supply for its members while making a marked different in electric reliability in Michigan,” he says.
Officials say regulatory approvals will take about a year to complete. Construction could begin in spring of 2014 and be completed by spring of 2016.
Governor Rick Snyder attended the press conference. He’s traveling around the state this week to talk about energy and the environment in Michigan.
