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LANSING, Mich. (AP) — Two alternative energy companies plan to buy a shuttered Ford Motor Co. factory in southeast Michigan and convert it into a renewable energy park.

The $725 million project at the sprawling Wixom Assembly Plant could employ at least 2,800 people within five years. Production would start in late 2011.

Xtreme Power of Kyle, Texas, and Clairvoyant Energy of Santa Barbara, Calif., told state lawmakers Wednesday they are looking to buy the plant if state tax incentives and federal loans are approved.

Ford says it plans to sell the plant to the companies, which plan to lease extra space to suppliers and other energy companies.

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