ESCANABA -- Over the last month, three parties have all expressed interest in exclusivity regarding the sale of the Escanaba Power Plant. Now there is one less party in the running.
Recast Energy of Richmond and Escanaba Green Energy, a local company, are still being considered as buyers.
According to Electric Superintendent Mike Furmanski, the parties were given requirements to meet in exchange for exclusivity. They were asked for a non-refundable deposit, and if it got to a closing, they were told they'd be asked for a bond to protect the city from any party that would buy the plant and abandon it.
"You know, we've done this twice already where we've gone forward in negotiations. and we've not been able to make a deal," said Furmanski. "So we incurred some costs with that. Now we asked for a non-refundable deposit if they should walk away."
Furmanski said they'll make their party recommendation at a joint meeting of the Electric Advisory Committee and City Council on March 7.
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