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Article: Nevada Geothermal Power Inc. Awarded US$57.9 Million Federal Grant for Blue Mountain 'Faulkner 1'.
- Article from:
- Business Wire
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VANCOUVER -- Nevada Geothermal Power Inc. (NGP) (TSX-V: NGP, OTC-BB: NGLPF) today announced that the United States Department of the Treasury
has informed NGP that the Company's application in the amount of US $57.9 million for Specified Energy Property in Lieu of Tax/Credits relating to the Blue Mountain 'Faulkner 1' geothermal power plant has been approved under Section 1603, Division B of the American Recovery and Reinvestment Act of 2009. Payment of the full amount is expected on or before November 15, 2009.
The 'Faulkner 1' geothermal power plant was placed in service on October 9, 2009 and is currently producing power at a sustainable rate of 27 ...