Cliffs signs letter of intent for heat and power co-generation facility

Courtesy:  Cliffs Natural Resources

ISHPEMING —  Cliffs Natural Resources can confirm that Cliffs and Invenergy Thermal Development LLC (“Invenergy”) have jointly executed a Letter of Intent to advance consideration of a combined heat and power co-generation facility to serve Cliffs Michigan operations.  Under the terms of the LOI, Cliffs and Invenergy will work toward evaluating the feasibility of a co-generation facility with the goal of reaching a decision point within 120 days.

Among the details likely to be determined during this time is the capacity and location of a potential facility and what impact it may have on the overall state of electric power in the Upper Peninsula.

Cliffs remains committed to work with the Michigan Governor’s office and local stakeholders to examine all potential solutions to the UP’s electric power challenges.