New Co-Generation Plant Eyed for Midwest
Alliant Energy Resources Inc. announced plans last week to
partner with Corn Products International Inc., a major corn
refiner, to build a 750 MW "co-generation" facility near Chicago,
IL. The plant, which will be called Argo Power LLC, will produce
enough electricity to serve 225,000 average homes when completed in
"This joint effort with Corn Products International offers a
long-term solution that addresses challenges across the country in
meeting growing demands for electricity," said Jim Hoffman,
executive vice president of business development for the Cedar
Rapids, IA-based Alliant Energy Resources, a subsidiary of Alliant
The state-of-the art facility will use combined-cycle technology
and natural gas to produce electricity and steam. The facility also
will capture heat from the generator exhaust, which then would be
used to produce high-pressure steam for use in Corn Products'
"Our large use of steam makes electrical co-generation the best
economic choice. Now, rather than release the heat directly into
the atmosphere, the heat from the generators will be used in our
industrial processes at the Corn Products' Argo facility," said
Mike Pyatt, vice president of Corn Products International.
The plant will be constructed on land owned by Corn Products in
Bedford Park and Summit, IL, for an estimated $415 million.
Construction will begin in the summer of 2001, and is expected to
be completed by 2003. The two partners expect the majority of the
project to be financed through non-recourse debt to be incurred by
Argo Power LLC.
Alliant Energy Resources provides electric, natural gas, water
and steam services to more than two million customers worldwide.`
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