Duke Power is considering building a nearly $300 million peak load power plant near Spencer at the Buck Steam Plant.
If Duke opts to build in Rowan, it would be the third major power facility, with nearly $1 billion invested if all three are completed.
CP&L is nearing completion on the first phase of a peak generating facility off U.S. 70 that will use natural gas to fire three giant turbines. The $250 million facility is scheduled to go online this year.
CP&Lhas also announced plans for a second phase of its project, a steam turbine recovery operation, representing an investment of another $150 million.
Earlier this month, Louisiana-based Entergy announced plans to build a more than $300 million facility off U.S. 70 adjacent to CP&L.
Spencer Mayor Buddy Gettys said Saturday that Duke engineers have been at the Buck Steam plant over the past three or four months to make test drillings related to a new facility.
Gettys, who grew up near the Buck Steam plant in what is known as Dukeville, said Duke owns ample property for a new plant.
Duke officials have announced that they will build their first new plant in the Carolinas in six years.
A site near Blacksburg, S.C., is the other one being considered. Duke also has a coal-fired generating facility at the S.C. location.
A spokesman for Duke Power said that a decision will be made by year’s end.
The new plant, fueled by natural gas, will cost between $275 million and $300 million. It would generate 640 megawatts of electricity, enough to supply nearly 200,000 homes during peak demand.
County Commission Chairman Steve Blount said Saturday that he “is not at liberty” to discuss the project. But Blount said that if Duke picks Rowan it would be wonderful.
Duke Energy is already the county’s biggest taxpayer, with billings for 1999 totaling $1.4 million.
“If it occurs, it will be a great opportunity for economic development,” said Blount. “It will bring an increase in tax base with little demand on the infrastructure.”
The plant under discussion would apparently be slightly larger than the Entergy or first phase of the CP&L project.
Commissioners have offered Entergy and CP&L an incentive package that will refund up to 85 percent of the taxes paid during the first five years, minus the cost of providing utilities.
If Duke Power opts to build at the site along the Yadkin River, the project will be at one of the company’s oldest power properties.
The Buck Steam Station facility is named for James Buchanan Duke, the founder of Duke Power. Construction started on the facility in 1925. Two turbo-generators went into operation in 1926 and produced 35,000 kilowatts of electricity. Additional units were added over the years with generating capacity greatly increased.
Built as a coal-fired station, additional units burn oil or natural gas. Hundreds of thousands of gallons of water from the Yadkin River are used in the steam turbine operation.
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