Mirant, the energy company with a leading position in both power generation and energy risk management and marketing announced that it intends to buy 40 per cent stake in Norway's Industrikraft Midt-Norge (IMN), according to PR Newswire.
The venture will include Mirant to build, finance and operate IMN's planned combined heat and power plant in Skogn, Norway.
They propose to generate a total capacity of 800 megawatts.
The natural gas will be supplied from nearby gas fields off the coast of Central Norway.
The production of electricity will be integrated with the large paper mill, Norske Skog.