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ARCADIA, Fla., June 3, 2002 -- Progress Energy has recently completed construction on a peaking power plant near Arcadia, Fla., and put the facility in service.
The new plant, fueled primarily by natural gas, adds approximately 320 megawatts (MW) of electric generating power to the Progress Energy power plant fleet. Its capacity and energy will be sold, under contract, to Florida Power & Light through May 2005. The official start of the contract was June 1.
Construction began at the site, known as the DeSoto County Energy Complex, in July 2001. The plant consists of two 160-megawatt combustion turbines, and will be owned and operated by DeSoto County Generating Co., a Progress Energy subsidiary.
The plant represents a capital investment of approximately $135 million.
Progress Energy is a Fortune 250 diversified holding company headquartered in Raleigh, N.C., with more than 21,500 megawatts of generation capacity and $8 billion in annual revenues. The company's diverse portfolio includes two major electric utility companies, CP&L and Florida Power, as well as NCNG, Progress Rail, Progress Telecom and Progress Ventures, which manages the company's non-regulated energy operations including fuel extraction, manufacturing and delivery; merchant generation; and energy marketing and trading.
These companies serve 2.9 million customers across the Southeast, providing electricity, natural gas, energy services and broadband capacity. For more information about Progress Energy, visit the company's Web site at http://www.progress-energy.com/.
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