MEMPHIS (AP) — The Tennessee Valley Authority's new gas-fired power plant in Tennessee is ready to run.

TVA said Monday that the Allen Combined Cycle Natural Gas Plant in Memphis has been completed and is ready to operate. It replaces the coal-fired Allen Fossil Plant, which operated for more than 58 years before it was retired on March 31.

The U.S. government-owned utility says the $900 million, 1,000-megawatt natural-gas fired plant will significantly cut emissions of carbon dioxide and gases that cause smog, while providing power to about 580,000 homes.

The gas plant sits near the old coal-fired plant in south Memphis. Last year, high levels of arsenic and lead were found in groundwater under the coal plant. Officials have said the contamination does not affect the city's drinking water.