DOE Backing Big Geothermal Projects in Oregon and Nevada

The Department of Energy is charged with supporting renewable energy development. The DOE is doing just that with loan guarantees for big geothermal projects in Oregon and Nevada.

Congress has charged the DOE with developing renewable energy resources in the United States that can be used to offset our reliance on foreign oil and gas supplies. The agency took a while to get rolling with renewable energy, but now is providing the economic environment to facilitate research efforts and practical applications left and right. The latest news is the DOE has decided to get behind two huge geothermal projects in Oregon and Nevada.

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In Oregon, the U.S. Geothermal, Inc., has inked a deal with the agency. Pursuant to the terms, the agency will issue loan guarantees to the tune of $102.2 million for the company to obtain financing to build a plant in the southeastern part of the state. The plant is expected to produce 22 megawatts of electricity as well as over 100 full time construction jobs followed by 10 full time positions when the plant is up and running. Construction starts this year. The plant should be completed by 2012.

In Nevada, the DOE has stepped up with more loan guarantees to support geothermal efforts. The plant is known as the Blue Mountain Project. It will be located in northwest Nevada and will produce a healthy 43 megawatts of electricity for use in the state. The DOE is supporting the project by providing $98 million in loan guarantees on behalf of Nevada Geothermal Power Company and NGP Blue Mountain I LLC, the partnership in charge of the project.

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Geothermal is often the ignored step child of the renewable energy family. This is unfortunate. Although it isn’t particularly sexy, it is a clean way to produce consistent energy with a minimum of environmental impact. Hopefully, the Department of Energy will continue to back its development across the country.

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