FPL Energy, LLC, a subsidiary of FPL Group , today announced it will build, own and operate a 1,789-megawatt, natural gas-fired power plant in the Dallas-Fort Worth area that will be one of the largest independent generation projects in the state.

With the capacity to power more than one million Texas homes, electricity generated at the Forney, Texas site, just 20 miles east of Dallas, will be sold primarily in the state's wholesale market. Initially developed by the Cobisa Corporation, FPL Energy purchased 95 percent of the project and assumed the lead development role and management of the project at the end of last year. Cobisa retains a five percent interest in the project.

Construction of the advanced technology, combined-cycle facility is targeted to begin in June 2001. The plant is expected to begin commercial operation in the second quarter of 2003.

"We are excited about this new opportunity to provide low-cost, clean energy to the high-growth Texas regional market. This project significantly enhances our portfolio in Texas, which is forecasting significant population growth and increased need for electricity and where state regulators are encouraging development of a robust wholesale market, particularly in renewable sources and clean-burning natural gas," said FPL Energy President Lew Hay.

FPL Energy owns and operates a 1,000-megawatt natural gas plant in Paris, Texas, and the 75-megawatt Southwest Mesa Wind Farm in West Texas. It has two plants currently under construction: a 535-megawatt natural gas plant in Bastrop, near Austin, and the 160-megawatt Woodward Mountain wind power facility in the Midland-Odessa area. In addition, the company recently announced the development of a 278-megawatt wind energy facility on King Mountain, also in the Midland-Odessa area. With the addition of the Forney plant, FPL Energy will have 3,800 gross (approximately 3,400 net) megawatts in its Texas portfolio of projects operating, under construction or in advanced stages of development.

FPL Energy is a leading independent producer of clean energy, including natural gas, wind, solar and hydroelectric. It owns and operates power plants with more than 4,100 total net megawatts in 12 states across the country. Given current development activities, FPL Energy expects to have more than 9,000 megawatts in operation by 2003.

FPL Group, with annual revenues of more than $7 billion, is one of the nation's largest providers of electricity-related services. FPL Group's principal subsidiary is Florida Power & Light Company, one of the nation's largest electric utilities, serving approximately 3.9 million customer accounts in Florida. Additional information is available on the Internet at http://www.fplenergy.com/, http://www.fplgroup.com/ and http://www.fpl.com/.

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SOURCE: FPL Energy, LLC