(CALLER-TIMES) CORPUS CHRISTI — The Las Brisas power plant project came to an abrupt and perhaps permanent halt with the announcement that the company financing the project is going out of business.

CEO Dave Freysinger, of Houston-based Chase Power Development, LLC, on Wednesday afternoon confirmed plans to cease operations, effectively orphaning the $3 billion petroleum coke-fueled electricity project that has faced an uphill battle in its quest for the necessary regulatory approvals.

“Chase Power … has opted to suspend efforts to further permit the facility and is seeking alternative investors as part of a plan of dissolution for the parent company,” Freysinger said in a statement emailed to the Caller-Times.

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