The state of Michigan is allowing a utility company to give away a shuttered coal power plant at a cost of $1 million.
The Muskegon Chronicle reports the Michigan Public Service Commission last week approved Consumers Energy's request to divest the B.C. Cobb plant in Muskegon.
Consumers will pay North Carolina-based Forsite Development $1 million to take ownership of the property, which includes 115 acres of land and a 650-foot-tall smoke stack.
The plant is expected to be demolished within two years of the finalized transaction.
Forsite's redevelopment plans include converting the site into a deep-water marine terminal on Muskegon Lake for cross-Lake Michigan shipping.
B.C. Cobb was decommissioned in April 2016 after nearly 70 years because of tightening emissions standards from the Environmental Protection Agency.
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