Nevada companies to get stimulus money for power projects

Senate Majority Leader Harry Reid, D-Nev., and U.S. Energy Secretary Steven Chu announced this morning that Nevada companies will receive $93 million in stimulus funds to develop 25 geothermal-power projects.

Nevada is reaping nearly a third of the $338 million the federal government said this morning that it would commit to geothermal energy.

Chu said the money will go toward locating and developing new geothermal fields, supporting research and development, drilling, stimulating existing reservoirs and converting heat to power.

Reid noted that Nevada has 21 geothermal plants that can generate 500 megawatts of power, but the state could have as many as 61 projects producing more energy than Hoover Dam yields.

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