WELLSBURG, WV (AP) — A company that received state approval for a loan guarantee for West Virginia’s first natural gas-fired power plant says it has stopped the project for now.
According to news outlets, Energy Solutions Consortium of Buffalo, New York, announced Friday that the project in Brooke County has been put on hold due to changing conditions in the energy and financial markets.
The West Virginia Economic Development Authority approved a $5.5 million loan guarantee for the project in September.
The Buffalo, New York company says it is evaluating alternative options to move forward. The project would have brought more than 1,000 construction jobs alone to build the plant.