Entergy Arkansas Purchases Hot Spring Energy Facility
Company Upgrades Fleet and Returns to its Roots
MALVERN, Ark., Nov. 30, 2012
MALVERN, Ark., Nov. 30, 2012 /PRNewswire/ --Entergy Arkansas, Inc. has
completed the purchase of the Hot Spring Energy Facility, putting down new
roots within sight of where the company began nearly 100 years ago. The modern
Arkansas power plant that will boost the utility's generation capacity sits
less than a mile from where Arkansas Power and Light founder Harvey Couch ran
the first transmission line between Malvern and Arkadelphia in 1913.
"This land and this community are where the vision to promote the economic
development of Arkansas began," said Hugh McDonald, president and chief
executive officer of Entergy Arkansas, Inc. "We are so pleased to have the
opportunity to invest in this community with a reliable, low-cost energy
resource to serve the future power demand in Arkansas, and offer savings for
all Entergy Arkansas customers."
Entergy Arkansas announced plans to acquire the plant in 2011 and assumed
ownership November 30.
The 620-megawatt, combined-cycle natural gas turbine unit was purchased from
KGen Hot Spring LLC for approximately $253 million, a sizeable discount to the
cost to construct a comparable facility.
The plant purchase supports the company's strategy of providing reliable
electric service at the lowest reasonable cost. Low cost power and an ample
supply will also make the state more competitive in attracting new or expanded
business and industry.
"The Hot Spring Plant is an environmentally friendly resource, and its
addition is another important step in preparing Entergy Arkansas for the
future by providing low cost, reliable and clean generation to Arkansas,"
Entergy Arkansas provides electricity to approximately 700,000 customers in 63
counties. Entergy Arkansas is a subsidiary of Entergy Corporation, which is an
integrated energy company engaged primarily in electric power production and
retail distribution operations. Entergy Corporation's utilities own and
operate power plants with approximately 30,000 megawatts of electric
generating capacity, including more than 10,000 megawatts of nuclear power,
making it one of the nation's leading nuclear generators. The Entergy
utilities deliver electricity to 2.8 million utility customers in Arkansas,
Louisiana, Mississippi and Texas. Entergy Corporation has annual revenues of
more than $11 billion and approximately 15,000 employees.
SOURCE Entergy Arkansas, Inc.
Contact: Julie Munsell, +1-501-377-3545 (office), +1-501-765-5233 (cell),
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