Pagosa Springs project in Colorado secures funding under PPP model
Pagosa Hot Springs, Colorado (source: flickr/ colorado trips, creative commons)
Francisco Rojas
8 Aug 2014
After passing some very positive legislation and securing fund at a federal level, drilling and prospecting should start soon in Pagosa Springs, Colorado.
Local news from Colorado inform that the Pagosa Springs project will be moving forward after securing funding at Federal level to develop said project.
“The U.S. Department of Energy delivered $3.9 million, followed by $1.9 million from state sources. The town and county governments created a consortium called the Pagosa Area Geothermal Water and Power Authority to provide 30 percent in local funds, or $520,000, as required by the federal grant.”
This was triggered thanks to a recent change in legislation H.B. 14-1222 which, “lengthens the repayment period and otherwise provides great flexibility for private-activity bonds issued with the backing of the state government for geothermal and other renewable energy projects.”
This project has been backed by the private firm, Pagosa Verde which has played a key role.
For the full article, please follow the link below:
Source: Mountain Town News Website
