Geothermal firm gets $61.5 million

Enel Green Power, operator of the Stillwater and Salt Wells geothermal plants in Churchill County, received $61.5 million from the federal government for further geothermal development.

The money was awarded under a American Recovery and Reinvestment Act program that targets development of renewable domestic energy sources.

Enel Salt Wells LLC of Fallon received $21.1 million, and Enel Stillwater LLC of Fallon received $40.3 million. Enel plans to use the funds for future investments, although it has no plans to expand its current Churchill County facilities, says Hank Sennott, director of external affairs and communications for Enel North America, a subsidiary of Enel Green Power.

"The company always is looking at other projects and opportunities," Sennott says.

The stimulus act program provides cash assistance to energy producers in place of tax credits. Under this program, the federal government provides a cash payment in lieu of a tax credit totaling 30 percent of the qualifying cost of the project. For each federal dollar spent in payments, more than $2 is spent in private sector investments.

Enel North America invested more than $200 million to bring Salt Wells and Stillwater plants into production earlier this year. Combined, the plants have a gross installed capacity of a 65 megawatts.

More than 300 construction workers were employed during the building of the two plants. Enel has about 25 full-time employees operating the plants.

"The creation of jobs and permanent jobs has a great impact on Churchill County," says Ken Pierson, director of business development for the Nevada Commission on Economic Development. "The investment in such a project provided construction jobs and permanent jobs, and the technology and research and development with this kind of project drives new technology and R&D into our area. It is a great thing."