Printer Friendly

CRSS CAPITAL'S PROPOSAL TO BONNEVILLE POWER ADMINISTRATION SELECTED FOR NEGOTIATION

             CRSS CAPITAL'S PROPOSAL TO BONNEVILLE POWER
              ADMINISTRATION SELECTED FOR NEGOTIATION
    HOUSTON, Dec. 16 /PRNewswire/ -- CRSS Capital, Inc., a majority owned subsidiary of CRSS Inc. (NYSE: CRX), announced today that its proposed 220 MW cogeneration proposal has been selected into the Negotiation Group in conjunction with Bonneville Power Administration's previously announced 300 MW capacity acquisition program.  CRSS Capital expects to begin further negotiation in early 1992.  The capacity acquisition program, developed to address the reduced power surplus which existed in the 1980s, is one of four actions set by BPA through a resource program issued in July 1990 to provide continued reliable wholesale power supplies in the Pacific Northwest.
    CRSS Capital currently maintains a 100 percent interest in the proposed cogeneration facility.  The project would be located in Chehalis, Wash. and sell steam to local industries in the Chehalis area. A precedent agreement has been executed with Northwest Pipeline for the construction of natural gas transportation facilities for the supply of natural gas to the proposed cogeneration project.  CRS Sirrine Engineers, Inc. would provide engineering and construction services to the project.  The project could be in commercial operation in late 1995.
    James T. Stewart, CRSS Capital president and chief executive officer, added; "This selection of our proposed 220 MW combined cycle cogeneration facility, as part of Bonneville Power Administration's Negotiation Group, builds on the success of CRSS Capital's existing portfolio of five operating power and cogeneration facilities.  CRSS Capital expects to see continued growth in our project portfolio from both independent energy projects as well as innovative project financings which we demonstrated with our James River chemical recovery project which is currently under construction."
    Houston-based, CRSS Inc., through its subsidiaries, is one of the largest and most diversified design and construction services companies in the nation.  CRSS Capital, Inc., an 81 percent owned subsidiary, currently has interests in projects with assets in excess of $660 million which produce more than 520 MW of power.  CRSS has also expanded through its interest in NaTec Resources, Inc. into the acid rain pollution control market.
    -0-           12/16/91
    /CONTACT:  Steve Pierce of CRSS, 713-552-2158/
    (CRX) CO:  CRSS Capital, Inc. ST:  Texas, Washington IN:  UTI SU: FC-OS -- NY038 -- 2511 12/16/91 12:17 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 16, 1991
Words:371
Previous Article:ECOLAB DECLARES DIVIDEND
Next Article:CAROLINA FIRST SAVINGS BANK COMPLETES PURCHASE OF FOUR MYRTLE BEACH BRANCHES OF THE FIRST SAVINGS BANK
Topics:


Related Articles
CRSS CAPITAL ACHIEVES PROJECT MILESTONE
CRSS CAPITAL DOUBLES SIZE OF CHEHALIS PROJECT
CRSS CAPITAL UNIT GETS FEDERAL ENERGY REGULATORY COMMISSION APPROVAL TO OFFER POWER MARKETING SERVICES
KENETECH'S WYOMING WINDPLANT A GO
CRSS SIGNS LETTER OF INTENT FOR SALE OF ITS ARCHITECTURE SUBSIDIARY
CRSS AND PHILLIPS COAL FORM JOINT VENTURE TO DEVELOP POWER PLANT IN MISSISSIPPI
CRSS DECLARES REGULAR FIRST QUARTER DIVIDEND
CRSS DECLARES REGULAR SECOND QUARTER DIVIDEND
CRSS ANNOUNCES SECOND QUARTER FISCAL 1995 RESULTS
CRSS REACHES SETTLEMENT WITH JAMES RIVER

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters