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Wärtsilä to Supply the Engineering and Equipment to East Kentucky Power Cooperative for 217-MW Power Plant

LCG, August 27, 2025--Wärtsilä Energy announced yesterday an agreement with East Kentucky Power Cooperative (EKPC) to supply the engineering and equipment for a 217-MW power plant to be constructed in Liberty, Kentucky. The Wärtsilä equipment is scheduled for delivery in mid-2027, and the plant is expected to be commissioned in early 2028.

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TerraPower, Utah's Office of Energy Development, and Flagship Companies Sign MOU to Identify Sites for Advanced Nuclear Reactors

LCG, August 25, 2025--The Utah Office of Energy Development (OED), TerraPower and Flagship Companies announced today the signing of a Memorandum of Understanding (MOU) to explore the potential siting of a Natrium® nuclear reactor and energy storage plant in Utah. The MOU establishes a shared commitment to support advanced nuclear technologies to build Utah’s energy future and to prioritize reliability, economic growth and energy abundance.

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Industry News

Mirant Looking for Partner to Provide Credit Support

LCG, Mar. 6, 2002--The power producer and energy trading company Mirant Corp. is in talks with potential providers of capital to bolster its trading operations.

Marce Fuller, Mirant's chief executive, confirmed the talks, which he told a Morgan Stanley-sponsored investor conference are being conducted with commercial banks, investment banks and insurance companies. If a deal is reached by June 30, as Mirant intends, the company would no longer need to support its trading by putting up $500 million of its own capital to provide liquidity.

Jeffrey Gildersleeve, an analyst with Argus Research, said, "you're at a disadvantage when you don't have a solid financial backbone. Potential customers might shy away." With its balance sheet under greater scrutiny following the collapse of Enron and retreating from its aggressive development of new power plants, Mirant hopes to improve its credit rating, downgraded to junk status by Moody's in December.

If Moody's were to restore the company's credit rating, it would mark an exceptionally fast reversal from the rating service, Fuller noted. While the company's creditworthiness is being monitored closely, in Gildersleeve's opinion, "it has become consensus that Mirant management has been extremely proactive in shoring up its balance sheet and proving its financial strength." One move in that direction was the sale of German utility Bewag AG, a deal worth about $1.2 billion.
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