Majority financier signs on to Georgia coal plant project

Denver-based Taylor Energy Fund has signed on as the newest financial partner in building the $2 billion Plant Washington coal plant in Sandersville.

The plant had been planned and financed by Power4Georgians, a coalition of electric membership cooperatives.

Cobb EMC, which had been P4G's largest financial backer, pulled out of Plant Washington in January, but it had already spent $13 million toward the plant's development.

Taylor Energy Fund will take over a 40 percent stake in the project, and releases the remaining P4G EMCs from any additional funding.

According to P4G, Plant Washington is expected to provide more than 1,600 construction jobs during the four-year building period, along with up to 300 jobs in supporting industries.