Midland Cogeneration Venture has the power to go all the way (and the reputation to get away with it). The company, formerly Midland Nuclear Power Plant, operates one of the largest cogeneration power plants in the US (at one time the largest gas-fired steam recovery power plant in the world). Midland Cogeneration Venture, with a generating capacity of more than 1,560 MW, is responsible for about 10% of the electricity used in Michigan's lower peninsula. It also produces up to 1.35 million pounds per hour of process steam for industrial use. Swedish private equity firm EQT Infrastructure (70%) and US energy investment group Fortistar (30%) bought Midland Cogeneration Venture in 2009.
The company holds the distinction of being the first nuclear power plant that was converted to a conventional energy generating facility.
The firm has long term contracts to sell power to Consumers Energy Company and power and steam to Dow Chemical. In 2008 Midland Cogeneration Venture also signed a five-year deal to supply steam to Dow Corning's plant in Midland.
Midland Cogeneration Venture was jointly owned by CMS Energy (49%), El Paso Corporation (44%), and Dow Chemical (7%), but in 2006 CMS and El Paso sold their stakes to MCV Investors, Inc. which took the company private.
In 2010 the company appointed industry veteran Roger Kelley as CEO, replacing Robert Freeline, who had been the top executive since the 2009 acquisition by EQT and Fortistar.