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Tuesday, April 30, 2013

Ind. Gov't. - "Developers suspend most Rockport gasification plant-related activities"

That is the headline to Eric Bradner's just posted story on the Evansville Courier & Press website. Some quotes:

INDIANAPOLIS — Developers of the proposed $2.8 billion Rockport coal-to-gas plant will see their ongoing legal battle through to its end, but are suspending all other activity related to the project.

The decision comes just three days after state lawmakers approved a tough new regulatory measure that those developers had warned would kill the state’s 30-year contract to buy and then resell the plant’s synthetic natural gas – and therefore the entire effort.

“The judgment of the state is very clear: Neither the legislature nor the governor support the contract or the project,” said Mark Lubbers, project manager for Indiana Gasification, the company being financed by Leucadia National Corp.

He said if the Indiana Supreme Court does not opt to weigh in on the battle between his company and a coalition of opponents led by Vectren Corp., “the project is dead.” If the five-member high court does take up the case, he said, developers could win there.

“If we win, however, only a clear reversal of position by the governor would enable the project to go forward,” Lubbers said.

The Indiana General Assembly approved a bill in the wee Saturday morning hours that would trigger a new regulatory review of the Rockport project if the courts order any changes at all to the original 30-year contract – and changes are seen as likely, since the Indiana Court of Appeals already ruled that 37 words must be struck from that deal.

The ILB also has obtained a copy of Mr. Lubbers' 2-page statement and comments on the Rockport Plant status.

Posted by Marcia Oddi on April 30, 2013 01:32 PM
Posted to Indiana Government