Cliffs Natural Resources Inc. announced today that its Tilden Mining Company has entered into a new 20-year energy agreement with WEC Energy Group to provide the mine with a long-term, reliable and affordable source of electrical power in Michigan.
The company stated that this agreement will provide Cliffs' Tilden Mine with a clean, cost-effective and highly efficient energy generating capacity solution and also resolve the long-term energy reliability issues facing the residents in Upper Peninsula of Michigan.
The company stated that this agreement will provide Cliffs' Tilden Mine with a clean, cost-effective and highly efficient energy generating capacity solution and also resolve the long-term energy reliability issues facing the residents in Upper Peninsula of Michigan.
Under this agreement WEC Energy Group, through the proposed Upper Michigan Energy Resources Corporation plans to construct, own and operate 170 MW of new natural gas generating capacity across two sites in the Upper Peninsula. Pending regulatory approvals, the proposed facilities are expected to commence operation in 2019 which will be in advance of the retirement of the Presque Isle Power Plant.