Dive Summary:

• The Kemper County plant will cost $2.8 billion in total, of which the South Mississippi Electric Power Association (SMEPA) will pay about $500 million.
• The SMEPA hopes to finish the purchase by the end of this year, but first needs loan approval from the federal Rural Utilities Service and sale approval from the Mississippi Public Service Commission.
• The SMEPA purchased a bankrupt power plant earlier this month for $342,000 per megawatt of generating capacity, while the Kemper County plant will cost them $5.65 million per megawatt.

From the article:

The South Mississippi Electric Power Association says it will go through with its planned purchase of 15 percent of a Kemper County power plant under construction.

Hattiesburg-based SMEPA says it will pay about $500 million for its share of the $2.8 billion plant, which Mississippi Power Co. is building. ...