Enbridge will invest up to $23.8m for a 20% interest in the plant and US Geothermal will own the remaining interest.
US Geothermal is constructing and will operate the facility, which will deliver electricity to the Idaho Power grid under a 25-year power purchase agreement.
Enbridge president and CEO Patrick Daniel said that this investment will be Enbridge’s initial entry into geothermal energy, which has an important role to play in North America’s shift toward a greener energy production mix.
Enbridge is an energy transportation company and is expanding its interests in green energy technologies.
