Geothermal exploration faces financial setbacks


At last week’s meeting of the Pagosa Area Geothermal Water and Power Authority (PAGWAPA), while representatives from Pagosa Verde (PV) tried to paint the progress of its project with the brightest possible colors, the board’s response to the presentation remained cool and skeptical.

Kirsten Skeehan, PV’s project manager, began by presenting a breakdown of the current financial situation. According to the original projections, by the end of phase I, which is where the project is now, the cost should have been $1.681 million. Later, when applying for a grant from the Department of Local Affairs (DOLA), this figure was adjusted to $1.158 million. As it turns out, the actual amount spent so far is $1.6 million.

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