A power plant that had been idle for six years and was scheduled to be decommissioned will find new use after a company purchased it at a bargain price.
The Lafayette Journal & Courier reports that Sterling Energy Group purchased the Crawfordsville Electric Light & Power plant for $155,000. That's well below the $900,000 asking price the city set two years ago.
Mayor Todd Barton says the city would have spent up to $6 million to decommission the plant and has spent about $1 million annually since 2007 to maintain the facility.
Sterling Energy plans to use the plant as a combined heat and power facility using clean coal technologies. Barton says it will cost between $10 million and $14 million to make the plant comply with current regulations.