News

2007 news releases

OAQDA Approves Funding for Clean Air Projects at Six Ohio Power Plants
$355.3 million targeted for facilities owned by Duke Energy, Ohio Power

(Columbus)  The Ohio Air Quality Development Authority (OAQDA), at its September meeting, authorized the issuance of up to $355.3 million in Air Quality Development Revenue Bonds to help finance the acquisition, construction, and installation of air quality facilities, including solid waste disposal facilities, at four power plants co-owned by Duke Energy, and two others owned by Ohio Power.

OAQDA financing of up to $165 million for Duke Energy will be used for its share of costs for facilities at the Miami Fort Electric Generating Station near the Village of North Bend (Hamilton County); the Killen Generating Station in Monroe Township (Adams County); the J. M. Stuart Generating Station located between Manchester (Adams County) and Aberdeen (Brown County); and the Conesville Generating Station near Conesville (Coshocton County).  Financing in the amount of up to $25.3 million was also approved to refund a previously issued OAQDA bond.

In addition, OAQDA members also authorized up to $165 million in bonds to help finance air quality facilities at two Ohio Power plants – the Cardinal Generating Station, Unit 1, near Brilliant (Jefferson County); and the Muskingum River Generating Station, Unit 5, near Beverly (Washington County).

“We are very pleased that OAQDA, since its inception in 1970, continues to be a champion for improved air quality in Ohio.  The new facilities financed by our members’ actions this month will raise the bar for air quality in the communities where the plants are located,” said Mark R. Shanahan, OAQDA executive director and Governor Strickland’s energy advisor.

-30-

The Ohio Air Quality Development Authority is a non-regulatory government agency created to help Ohio businesses comply with clean air regulations.  Through its Ohio Coal Development Office, OAQDA also oversees the State of Ohio’s coal research, development, and technology deployment efforts.  Since its creation in 1970, the Authority has provided technical and financial help to hundreds of large and small Ohio businesses, awarding more than $4 billion to finance air quality projects.  For more information about OAQDA and its services, please visit its web site, at www.ohioairquality.org.