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Summit receives backing for $5M grant with safeguards
Odessa officials balked at Summit plans for a third party guarantee and required a $5 million letter of credit or escrow. Summit found substitute funds to meet the $15 million condition and aims to finalize a $350 million Clean Coal Power Initiative with the DOE. The project, a 400 MW plant, could start with 1,000 construction jobs and 125 permanent positions, targeting 2014 operation.
MENTIONED IN THIS ARTICLE
U.S. Department of Energy
Morton
Summit
ODC
Odessa
Eric Redman
Royce Bodiford
Redman
Stitute
Energy Department
Bodiford
Council
CDC Board
Rick Carlton
CDC
DOE
Bainbridge Island
Wash