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Enbridge/ US Geothermal discuss equity investment for San Emidio

San Emidio geothermal power plant, Nevada/ US (source: US Geothermal)
Alexander Richter 25 Jan 2011

U.S. Geothermal is in talks about another partnership and equity investment by Canadian Enbridge into a geothermal project of the company, this time at its San Emidio project in Nevada.

Reported by Reuters, U.S. Geothermal is currently in discussions with the large Canadian pipeline company Enbridge on a potentially second equity investment.

As reported by ThinkGeoEnergy, Enbridge invested $24m into a 20 percent stake in the Neal Hot Springs project of U.S. Geothermal in September 2010.

Both companies are now, so Reuters, “speaking about a stake in the San Emidio project of the company in Nevada”. The company is in need of around $10 million to complete the funding for the plant, according to the company’s CEO Dan Kunz.

“Smaller players are facing limitations to accessing low cost capital, as soon as they reach construction and engineering in their project development and therefore teaming up with companies like Enbridge makes sense”, so Dan Kunz.

Source: Reuters