In November 2007, we completed the acquisition of an idle biomass power plant located in Susanville, California. The plant assets include a boiler capable of producing 160,000 pounds per hour of steam and a turbine that can generate approximately 13 MW of base-load electricity. We estimate our Susanville plant could be fully operational by early 2010, subject to securing necessary financing to refurbish the plant, obtaining any required construction, operation and environmental permits, identifying and securing necessary fuel sources at a cost-effective rate, entering into a power purchase agreement for the entire power output of the plant, and other activities necessary to restart and operate the plant.
Fuel for our Susanville plant will be comprised entirely of woody waste biomass material that is expected to come from nearby forests, sawmills and green waste sites within a 50- to 75-mile radius of the plant site. We are currently in discussions with a local forest products and timber company for the supply of wood waste. We are also in discussions with government agencies, local green waste sites and other parties relating to long-term forest thinning and other contracts that may enable us to secure additional fuel.
Simultaneously, we are continuing discussions with utility companies who have expressed an interest in securing the electrical output of the plant through a long-term PPA, and are pursuing various financing opportunities we have identified to help fund the project.