Cheyenne, Wy – Governor Freudenthal(Friday)
granted 119 (M) million dollars in tax-exempt bonding status to
help finance construction of the Two Elk power plant near Wright.
The governor's decision came despite a state advisory panel's
recommendation that he deny the plant's request.
The five-member advisory panel cited a lack of progress in
building the Two Elk project and said other groups were better
candidates for tax-exempt status.
Freudenthal says while he remains skeptical about the project,
he says no one else has applied for tax-exempt bonds and he
believes it's important that the state encourage new power plants
and transmission facilities.
Work on the Two Elk plant has been stalled for several months,
mostly while North American Power Group negotiated with the U-S
Forest Service over an access road through the Thunder Basin
National Grassland. A company official says that issue has been
resolved, and full-time construction work on the plant could begin
as early as November.