Flint Energies Re-Joins Oglethorpe Power System

Flint Energies, an electric cooperative based in Reynolds, Ga., has re-joined the Oglethorpe Power Corporation system after a five-year absence. Flint withdrew as an Oglethorpe Power member in 2004 but will now be eligible as one of Oglethorpe's 39 member cooperatives to participate in future electric generating facilities planned by the $6 billion power supply cooperative.

Bob Ray, president and CEO of Flint Energies, said Flint's renewed partnership with Oglethorpe Power will benefit the co-op by offering an increased array of options to ensure an adequate supply of reliable and affordable power for its customers.

"Despite the recent economic downturn, our system continues to grow," Ray said. "Re-joining Oglethorpe Power increases our flexibility and gives us more control over our future power supply resources."

Thomas A. Smith, president and CEO of Oglethorpe Power, welcomed Flint's decision to re-join Oglethorpe, noting that the co-op is one of the largest and fastest growing co-ops outside of metro Atlanta. "Flint's presence among our 39 Member Systems helps make us a stronger system overall," he said. "We are happy that they have chosen to become part of our family once again."

About Flint Energies

Incorporated in 1937, Flint Energies is a not-for-profit member-owned electric cooperative that provides energy services to residential, commercial, industrial and agricultural members in parts of 17 central Georgia counties. Flint has 240 employees and serves more than 250,000 Georgians through 82,600 meters.

Flint's physical plant consists of nearly 6,300 miles of distribution line and 49 substations located within Bibb, Chattahoochee, Crawford, Dooly, Harris, Houston, Macon, Marion, Monroe, Muscogee, Peach, Schley, Sumter, Taylor, Talbot, Twiggs and Upson Counties.

The system also includes the Museum of Aviation at Robins Air Force Base and the Fort Benning military post. Flint is the eighth largest of Georgia's 42 EMCs and the 38th largest of the nation's nearly 1,000 rural electric cooperatives. Flint Energies is also a Touchstone Energy Cooperative, part of a nationwide family of electric cooperatives exhibiting the core values of integrity, accountability, innovation and commitment to community. Flint's members give their cooperative an American Customer Satisfaction Index (ACSI) score of 82, which rates higher than most investor-owned utilities in the country.

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Oglethorpe Power To Purchase Hartwell Peak Generating Plant

/PRNewswire/ -- Oglethorpe Power Corporation has notified the partners of the Hartwell Energy Limited Partnership of the Corporation's intent to purchase the 318 megawatt Hartwell plant, an oil and gas-fired peaking facility in northeast Georgia. The purchase price is $148.5 million, including approximately $54.0 million of existing project level debt, plus a working capital and fuel oil adjustment to be determined at closing. Completion of the sale is expected in the third quarter of 2009.

Oglethorpe Power already has a power purchase arrangement with the plant's owners to purchase the output of the plant through May 2019. As part of that arrangement, Oglethorpe Power has the right of first refusal if the plant is sold. In April 2009 International Power announced that it, together with its partner, had reached agreement to sell the Hartwell plant to Southern Power Company, subject to a decision by Oglethorpe Power on whether to purchase the plant itself under its right of first refusal.

In exercising the right to purchase the plant, Oglethorpe Power cited its existing power purchase agreement involving the plant and the need by its Member EMCs for additional peak generating capability following the termination of the existing arrangement.

"Our analysis shows that purchasing the Hartwell plant is a good strategic fit for Oglethorpe Power and our Member Systems," said Elizabeth B. Higgins, executive vice president and chief financial officer.

The purchase of the plant by Oglethorpe Power will be subject to applicable regulatory approvals and lender consent.

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Oglethorpe Power Purchases Biomass Site in Warren County

/PRNewswire/ -- Oglethorpe Power Corporation today closed on the purchase of a 355-acre tract in Warren County, Ga., for a proposed biomass electric generating plant. The Warren County site, off East Warrenton Road, was one of five Georgia tracts optioned by Oglethorpe Power last fall as potential sites for two, and possibly three, planned 100-megawatt biomass facilities.

All five sites that were identified appear to meet project criteria. Following several months of further study, two of those sites, located in Warren and Appling Counties, are preliminarily identified as preferred locations for the first two biomass plants. A third site under option in Echols County remains in consideration as an alternative to the two preliminarily preferred sites, or as the site for a potential third plant. Oglethorpe Power also retains options on two alternative sites in Washington County.

Although preliminarily preferred, the sites in Warren and Appling Counties cannot be considered final until they undergo an independent environmental review and evaluation as required by the National Environmental Policy Act. This process, which will examine all the alternative sites, will include several public meetings near the preferred sites to gather input on environmental issues.

Oglethorpe Power Chief Operating Officer Michael W. Price said the environmental review will take place over the next 18-24 months. During this time, Oglethorpe Power will also be working with the state Environmental Protection Division to begin the process of obtaining the necessary environmental permits.

"This purchase of land in Warren County is an important milestone as our plans to build and operate Georgia's largest group of biomass generating plants continue to move forward," Price said. "These plants will have a very positive economic impact on the host communities and surrounding regions while bringing much-needed, renewable energy to EMC consumers throughout the state."

The biomass plants will generate electricity by burning a woody biomass mixture expected to consist primarily of whole tree chips and chipped pulpwood, along with wood waste from saw mills and wood remaining in the forest after clearing. Each plant will require a capital investment of $400 million to $500 million. Several hundred workers will be employed during construction, with about 40 permanent jobs required for operating each plant. In addition, an estimated 400 to 500 more jobs per plant could be generated within the forest industry to gather and transport the more than one million tons of wood chips expected to be required annually to fuel each plant.

Price said Oglethorpe Power expects to begin construction on the first plant in 2011, followed by commercial operation by the summer of 2014. The second plant will be placed into service in early 2015. A decision will be made later on whether a third plant will be built. If so, it would also go into service in 2015.

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