"We view this as a positive development both for our company andMirant," says Gary G. Ely, chairman of Avista. "We will retain asignificant portion of this important generation project inaddition to working with Mirant."
As co-owners of the plant, Mirant and Avista will share equallyin all construction and operating costs. To date, Avista has $140million invested in construction, which is estimated to costbetween $180 million and $190 million when completed. Additionally,the two firms will work jointly in marketing the plant's powerproduction.
When completed, the combined-cycle power plant will beinterconnected to the Bonneville Power Administration'stransmission system and near the Stanfield natural gas hub.
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