City leaders in Alexandria have reached an agreement with GenOn to permanently close a coal-fired power plant on the Potomac River waterfront.
The plant was originally built in 1949, and Alexandria leaders have been trying to close it for the last decade.
Back in 2008, the city struck an agreement with Mirant, the company that owned the plant at the time, that would invest $32 million to reduce particulate matter coming from the plant.
Now the city and GenOn, current owners of the facility, have struck a deal. Under the terms of the agreement, the plant will close on Oct. 1, 2012.
The $32 million goes back to the company. No plans have emerged yet for what will happen to the waterfront property, although one estimate shows that cleaning up the pollution at the site could cost as much as $50 million. The Alexandria City Council does not have plans to include the property in the small-area redevelopment plan currently under consideration.
As many as 120 people will lose their jobs once the plant is shut down, according to the Alexandria Gazette Packet.