UAMPSUtah Associated Municipal Power Systems (Salt Lake City, UT)
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Department of Energy's (DOE) Office of Nuclear Energy has announced a Memorandum of Understanding (MOU) between itself, UAMPS, and Battelle Energy Alliance which manages INL on the SMR project.
The MOU highlighted the Department's intent to draw from two modules of the twelve-module SMR, under UAMPS' Carbon Free Power Project.
For its part, UAMPS currently has commitments from its utility partners to take 110 megawatts (MW) of power, and it needs 150 MW to go ahead, which it expects to get in a couple of months, said Douglas Hunter, general manager.
UAMPS is a project-based joint action agency serving 46 mostly small, unrated members through 16 separate projects.
UAMPS was established in 1980 as an energy services interlocal entity to finance, acquire, and operate various projects for the generation and transmission of electricity to its 46 members.
Fitch's primary rating considerations for UAMPS' VHRP are the PSCs and the financial and operating performances of the seven participants.
UAMPS' recovered energy generation system captures waste heat from the turbines to generate electricity.
No additional project debt is excepted as UAMPS prefunds the project's manageable long-term capital needs through rates.
Additional considerations include the project's financial and operating performance and UAMPS' sources of liquidity.
UAMPS' Payson Project has take-or-pay PSCs with its 16 participants that terminate at the later of Feb.
The bonds are secured by net revenues of UAMPS' Horse Butte Wind Project (HBWP), principally derived from take-or-pay power sales contracts (PSCs) with each of the 23 project participants.
WIND PROJECT PURCHASE: UAMPS is in the process of purchasing the HBWP for $15.4 million per the original purchase power agreement (PPA) between UAMPS and the project owner.