Unalaska extends deadline for geothermal development plans
City view of Unalaska, Alaska (source: flickr/ umnak, creative commons)
Alexander Richter
1 Apr 2021
The developer of the Makushin geothermal power project has received a one-year extension to secure funding for a 30 MW geothermal power project near Unalaska, Alaska.
Reported locally, the Unalaska City Council voted in favour of pushing a deadline of Ounalashka Corp./Chena Power, LLC (OCCP) for securing funding to June of next year.
The developer group is planning a geothermal power project at the Makushin Volcano near Unalaska, in Alaska, U.S.
The extension of the deadline does not alter the agreement with the municipality of Unalaska. We reported in August 2020 on a 30-year Power Purchase Agreement, a requirement to secure funding for the project.
Like many projects, the pandemic has made things challenging to secure funding by the original deadline of June 2021. The developer initially planned to secure a loan through the U.S. Department of Energy. With changes in personnel and high costs, the developer though will seek funding elsewhere. Potential funding is now sought through the U.S. Department of Agriculture and agencies in Alaska.
Initial preparation work on the project could start soon while the company looks for funding. It still hopes the project can start operations in the final quarter of 2023.
Source: KUCB
