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Escanaba Power Plant Sale Scheduled for Next Week

The city of Escanaba may be able to close on the sale of its power plant next week. Escanaba Green Energy is buying the power plant for $4.4 million. According to the Escanaba Daily Press, EGE president Charles Detiege told the city council this week the financing process is again moving forward for the company to borrow $36.5 million to buy the plant and pay for the conversion of the facility from coal-fueled to biomass-fueled. Escanaba voters last week approved a referendum that gives the city permission to close the plant if the sale falls through. Mayor Marc Tall says that he continues to hope that the city will not have to use that option, saying that a sale to EGE remains “the best possible option” for the city.

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