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AEHI Signs Letter of Intent to Construct Nuclear Plant

Feb 1, 2007 12:00 PM

Alternate Energy Holdings (AEHI), a developer and marketer of clean energy sources, recently signed a letter of intent to construct, own, and operate a nuclear power plant near Bruneau, Idaho.

The proposed 1,500MW light water reactor will provide much-needed electricity for local farm co-op irrigation, while the majority of the power produced will be sold in the national energy market to help address West Coast power supply challenges. When completed, this will be Idaho's first large commercial nuclear plant — and only the second one in the region. After approval of the plant site and design/development preparation, AEHI feels the modular design can be completed in approximately 36 months.

According to Don Gillispie, AEHI president and CEO, “[The Idaho project] is a huge undertaking for a new emerging growth company, but our very experienced senior officers and directors have managed projects of this magnitude in the past; we are excited about being a part of the rebirth of a valuable clean energy source to help both the residents of Idaho with their energy challenges and the nation with energy independence.”

The company announced its business strategy, which includes a project along these lines, early in 2006 and expects a binding agreement executed early in 2007 followed by plant construction in early 2008.

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