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Conway approves agreement to take a 4% stake in new Independence combined-cycle gas plant
Summary
After presentations and council questions, the Conway City Council adopted an agreement enabling Conway Corporation to take a 4% development stake in an Independence combined-cycle natural-gas plant; the ordinance passed with an emergency clause 7-0. City officials described finance off-ramps, audit rights, a projected 2031 online date and at least
Conway City Council voted to adopt an agreement that will give Conway Corporation a 4% development share in a proposed Independence combined-cycle natural-gas plant, part of a regional move away from coal-fired generation.
Representatives said the ownership agreement consolidates development rights previously held in White Bluff and Independence and will shift project development responsibility to Arkansas Electric…
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