Alternate Energy Holdings Inc (AEHI) reported that it had received a letter of intent from Cobblestone Financial Group to fund 100% of its proposed 1600 MWe nuclear power plant near Grand View, Idaho. The total cost of the project is estimated at $3.5 billion. Cobblestone, which is representing numerous investors and funding sources, will provide the funding in stages as AEHI meets different milestones. The first phase of the project - to apply to the US Nuclear Regulatory Commission (NRC) for a combined construction and operating licence (COL) - is expected to begin later in 2007. The licensing process is estimated to cost some $100 million. The proposed reactor will provide electricity for local farm co-op irrigation, but the majority of output will be sold in the national energy market. It could also be used to co-generate ethanol. Meanwhile, AEHI has gained the support of local Native American tribesmen for the plant. In a recent television interview, Steven Pursley - Shoshone-Paiute tribal leader of the Duck Reservation in Idaho and Nevada - said that nuclear energy is naturally occurring and all man has done is recreate a power generation technique already designed by Mother Nature. He said that the Idaho plant would be a valuable resource for an agricultural area in need of economical, emissions-free power.
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Alternate Energy Holdings
Cobblestone Financial Group