Oregon

By OGJ editors
HOUSTON, Sept. 8
– Enbridge (U.S.) Inc. will invest as much as $23.8 million in the 35 Mw Neal Hot Springs geothermal project in eastern Oregon, said developer U.S. Geothermal Inc., Boise, Idaho.

Enbridge’s equity investment in the project will fully fund the remaining equity share of the construction costs. The balance of the construction costs being funded by the previously announced US Department of Energy conditional commitment for a project loan. Subject to adjustment, Enbridge will acquire 20% direct ownership interest in the project and will receive 24% of the investment tax credit cash grant.

U.S. Geothermal has already invested $13 million in USG Oregon LLC, its subsidiary that owns the project. A total of up to $36.8 million in equity, together with up to $102.2 million of project debt provided under the loan guarantee program from DOE, is now invested in or available for completion of the $124.3 million project.

At Neal Hot Springs, USG Oregon LLC is constructing a new modular, air-cooled binary cycle power plant manufactured by TAS Energy Inc., Houston, with gross capacity of 35 Mw and an average annual output subject to seasonal and other variations of 23 net Mw of electricity (OGJ Online, Sept. 23, 2009). Commercial operation is set for the fourth quarter of 2012.

Related Articles

EPP lets contract for another Gulf Coast PDH unit

03/18/2014 Enterprise Products Partners LP (EPP), Houston, has let a $100 million contract to CB&I, Houston, for pipe fabrication for a propane dehydrogen...

Azerbaijan looking beyond latest contract success, official says

03/17/2014 Azerbaijan will continue to develop partnerships with other countries as it tries to export more natural gas west from the Caspian basin, an offici...

GTL plant planned for Kazakhstan

03/17/2014 Kazakhstan and CompactGTL have signed a memorandum of cooperation to develop and implement associated gas processing technologies for the world’s f...

Ukraine gas plant starts up

03/12/2014 KUB-Gas LLC, a partially owned unit of Calgary-based Serinus Energy Inc., has completed and commissioned a gas processing plant at Makeevskoye, Ukr...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected