Sierra Pacific Power Co. has signed a 20-year contract for geothermal power from Beowawe Power LLC's plant in central Nevada.
The power company has until 2013 to meet state requirements calling for 15 percent of its energy supply be generated from renewable resources. Sierra Pacific has about 10 percent of its power from such sources said Roberto Denis, senior vice president of generation and energy supply.
The Beowawe plant will supply 17.7 megawatts of power beginning Jan. 1; one megawatt will serve about 1,000 typical homes. The power will be used to supply residents in Northern Nevada.
Denis said another 30 megawatts of power from geothermal sources will be on line within the next year and a half.
The plant is southeast of Battle Mountain in Lander and Eureka counties.
Great Basin Bank gets Preferred Lenders Program Status from SBA
ELKO- Great Basin Bank of Nevada received Preferred Lenders Program Status from the Small Business Administration.
Small Business Administration offers its lenders a variety of methods for applying for a guaranty on their proposed loans. The differences between these methods are related to the levels of authority and responsibility the lender and SBA have in making decisions with processing, closing and administering each loan.
The Preferred Lenders Program is part of the SBA's process of "streamlining" the procedures necessary to provide financial assistance to the small-business community. Under the program, SBA delegates loan approval, closing, and most servicing and liquidation authority and responsibility to the selected lenders. Most banks and other lending institutions can make SBA-guaranteed loans. Preferred Lenders have a special relationship with the SBA which enables them to expedite loans to credit-worthy small businesses.
More information on Great Basin Bank of Nevada can be found at www.GreatBasinBank.com.