Last year, Lafayette Utilities System was prepared to retire the coal-burning power plant Rodemacher 2. Now the plant looks to have a new lease on life, The Current is reporting.
Rodemacher 2, a power plant located near Alexandria, was scheduled to close by 2027. But this week, the Lafayette Public Power Authority voted to pursue bonds for a potential renovation or conversion. Delays in building a new plant and increased demand for power have changed the system’s calculation, making the plant more valuable, The Current reports.
The process for $95 million in bonds has already started. The LPPA, made up of the same members as the City Council, voted unanimously to allow Lafayette Consolidated Government to pursue them with the state bond commission, The Current reports.
Any bond issue will require a second approval by the LPPA. LUS Director Jeff Stewart does not foresee bonding the full $95 million, but wants to cover for any possible margin of error in the projections, The Current reports.
LCG created the LPPA in 1977, primarily to own 50% of the Rodemacher plant. The other half is split by CLECO, a private electric utility company that operates the facility, and the Louisiana Energy Power Authority, a nonprofit started by the state Legislature in 1979. Those co-owners would cover half of any renovations made to the facility, The Current reports.
To read The Current's whole story with all the details, click here.
