Power Plant Development

There's important business news from Nacogdoches. A New Hampshire firm has acquired the development rights to a natural gas-fired power plant in Nacogdoches County.

BayCorp Holdings has taken over the Cushing area project from STEAG, a group of German investors. BayCorp, through a wholly owned subsidiary, "Nacogdoches Power" plans to develop a 1000 megawat natural gas-fired power plant.

In a separate transaction through another subsidiary, "Nacogdoches Gas" an agreement has been reached to develop three natural gas and oil wells.

The Cushing area was disappointed when the previous investor put the project on hold when natural gas prices skyrocketed. The new developer's partnership with a local gas holder makes the project more profitable.