DELL, AR (KAIT) - Associated Electric Cooperative Inc. (AECI), the wholesale power supplier for six regional and 51 local electric cooperatives in Missouri, southeast Iowa and northeast Oklahoma will celebrate the completion of the Dell Power Plant in Mississippi County today.
Thursday's celebration brings to fruition a project that began with construction in 2001 by TECO Energy. However, construction on the facility was suspended by TECO in September 2002 when the company began experiencing severe financial problems. In August of 2005, TECO sold the unfinished property to AECI.
AECI will make payments totaling $19.35 million to the Gosnell School District, Mississippi County, the town of Dell and Arkansas Northeastern College under a 30-year economic development agreement. At the completion of the agreement, the plant will become fully taxable. Prior to development of the plant, the county collected about $25,000 per year in taxes for the plant property.