American Transmission Co. has purchased land for a $117 million substation to power the factory Foxconn Technology Group is building in the village of Mount Pleasant.
The Mount Pleasant Village Board agreed on May 14 to sell 33.1 acres of land east of County Highway H between Braun Road and Highway KR to ATC for $2.4 million. That brought the price of the land to $73,000 an acre. The village had bought the land for $1.6 million earlier this year. Alissa Braatz, an ATC spokeswoman, said the utility completed the purchase on Thursday.
“We have appreciated the opportunity to work closely with ATC on their plans for a substation serving the Foxconn project,” Claude Lois, project director for the Village of Mount Pleasant, said in a statement. “The village’s sale price to ATC incorporates both the village’s acquisition costs for the land, as well as the costs the village will incur for the public infrastructure serving the site.”
In January, ATC sought approval from the Wisconsin Public Service Commission to build the new substation, which will provide power to the $10 billion Foxconn factory. ATC initially said the project would cost $140 million, but now expects the substation to cost $117 million.
Plans for the project call the construction of not only the new substation but also the addition of 1.2 miles of transmission lines and a second transmission circuit to a 12-mile stretch between Racine to Pleasant Prairie.
Foxconn’s 20 million-square-foot factory is expected to be the largest manufacturing plant in the U.S. ATC expects the Foxconn factory will use 200 megawatts of power, or six-times as much power as the next-biggest factory in Wisconsin. That’s enough to power 150,000 homes.
The utility says the cost of the project will be covered by 5 million electric customers over the course of 40 years.
The PSC has scheduled public hearings on the project for late June and plans to decide whether to approve the project this fall. If does give its approval, construction will get underway later this year. ATC plans to have the work completed in late 2019 or early 2020.