The developer of the 1,600 MW Coal-fired Prairie State Energy Campus in Illinois reportedly will cap construction costs at $4.0 billion as news reports suggest the plant's construction costs currently stand at $4.4 billion, or around $2,750/kW.

Without providing details of a new agreement, the management company in charge of overseeing the plant said it had brokered a deal capping the construction budget at "approximately $4 billion" or around $2,500/kW, the Chicago Tribune reported.

The paper said that amount does not include the project's total costs, including nearby coal reserves, mine development and transmission lines.