http://www.desmoinesregister.com/article/20090107/NEWS/901070378/-1/BUSINESS04 January 7, 2009
Proposal for Waterloo coal plant is scrapped
By PERRY BEEMAN
pbeeman@dmreg.com
A New Jersey firm has abandoned plans to build a coal-fired power plant in Waterloo, blaming the economic downturn.
LS Power announced Tuesday that it would scrap plans for the controversial plant, which would have produced enough power to serve as many as 500,000 homes beginning in 2013. The firm planned to sell power wholesale to customers in and outside Iowa.
The company's partner in the project, Dynegy Inc., dissolved its venture last week, citing the credit crisis.
"The neighbors are all ecstatic," said Don Shatzer of rural Waterloo, who led three years of neighbors' opposition against the roughly $1.5 billion plant. In addition to stirring up heavy opposition from environmentalists, the plant would have claimed the century farm of 78-year-old Merle Bell just outside Waterloo.
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