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Power giant TXU thought it was on the fast track to build
11 new coal-fired power plants. But that’s been derailed by a proposed
$32-billion dollar buyout–the largest in U.S. history.
Now the company has scrapped plans for eight of those coal plants and
Texas power giant TXU was on a fast track to build eleven new coal-fired plants. Now an investment group is poised to take over the utility and, after negotiating with environmental groups, is canceling all but three of the coal plants. Living on Earth’s Jeff Young looks at how the deal went down.