NGO seeks power finance

The Massachusetts Municipal Wholesale Electric Corporation (MMWEC), a non-profit organisation that produces power on behalf of publicly owned utilities, is seeking financing for the construction of a proposed US $220 million power plant in Ludlow, Massachusetts.

The Massachusetts Municipal Wholesale Electric Corporation (MMWEC), a non-profit organisation that produces power on behalf of publicly owned utilities, is seeking financing for the construction of a proposed US $220 million power plant in Ludlow, Massachusetts.

Twenty-four municipalities that run their own public light companies have pledged to buy electricity from the 280mW natural gas and oil facility.

But MMWEC needs more investors – either from municipalities in New England or the private sector – to help make the Stony Brook Phase II project work.

New England will need an estimated 4,800mW by 2014 in order to meet projected regional demand.

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