University of Missouri starts USD-32.4m geothermal power project

(ADPnews) - Nov 29, 2010 - The Missouri University of Science and Technology announced last week it would build a USD-32.4-million (EUR 24.4m) geothermal facility to replace an old coal and wood chips-fired power plant providing heat to the campus.

Via the project, the university will initially save some USD 1.4 million annually from electricity and operational expenses, while the figure is seen to reach USD 2.8 million in future. In addition, the geothermal system will offset over 25,000 tonnes of carbon dioxide a year.

Construction works on the facility will take around five years, the university said. Financing for the project will come from a 30-year bond issue, which has already got the green light from the University of Missouri Board of Curators. The board has approved a total of USD 260 million in debt financing for projects developed by all four university campuses.

(USD 1 = EUR 0.755)

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