Associated Press - November 10, 2009 2:34 PM ET
BATON ROUGE, La. (AP) - Louisiana Geothermal of Lake Charles gets a $5 million federal Recovery Act grant to tap scalding hot brine 16,000 feet underground for a geothermal power plant in Cameron Parish.
Company President George Jordan says people have known for decades that the Sweet Lake area has good geothermal potential, but it was too expensive. Jordan says federal grants, tax incentives, technological advances and the high relative cost of fossil fuels are making geothermal projects more attractive.
The well would cost about $30 million. Louisiana Geothermal will soon begin to seek private investments to add to the grant and the original investment from Louisiana Tank, Jordan Oil and Central Crude of Lake Charles.
Jordan says the proposed plant would generate two to five megawatts of power.
Information from: The Advocate, http://www.2theadvocate.com
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