WISCASSET (AP) – A proposed Twin River Energy Center on the former Maine Yankee property would use gasification technology to produce up to 700 megawatts of electricity and up to 9,000 barrels per day of diesel fuel, its promoter says.

Point East Project Manager Scott Houldin presented his idea for a $1.5 billion plant capable of turning wood biomass and coal into electricity and diesel fuel to selectmen Tuesday. A public hearing will be held on Tuesday, July 24.

Houldin said the new plant would create 200 full-time jobs and help to restore the local tax base, which has suffered during the decommissioning of Maine Yankee nuclear power plant. The decommissioning was completed last year.

“Maine and other New England states need to stabilize energy prices and reduce supply vulnerability by adding production capacity and utilizing diversified fuel sources that are environmentally sound,” he said.

“The Twin River Energy Center meets both these critical needs.”

Houldin told selectmen the project would require an amendment in the building code to accommodate the structure heights of the center.