The Diaryland Energy Cooperative has announced plans to acquire a 503 megawatt natural gas plant near Cambridge.
He did not say how much he agreed to pay for Starwood Energy Group, a company that mainly uses electricity in times of high demand.
The sale, based on regulatory approval, will close later this year, according to the Daily Mail.
Drentland’s CEO Brent Ridge said the plant will help meet the growing demand for a generation of 500,000 municipal and cooperative customers in Wisconsin, Minnesota, Iowa and Illinois.
According to Ridge, the acquisition of an “existing, low-cost and reliable” plant in Wisconsin is “timely and strategically appropriate” because Derelandland has shut down a 345-megawatt coal mine in Genoa.
Dereland is currently working with Minnesota Power on plans to build a $ 700 million natural gas plant in the supermarket.
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Katie Thompson, a spokeswoman for the company, said on Thursday that the company was committed to building a 625-megawatt Nemadji power plant that would enable the company to switch from coal.