Pagosa Verde, county reach agreement concerning geothermal project funding


At the Pagosa Area Geothermal Water and Power Authority (PAGWAPA) meeting Monday night, after the routine progress report on Pagosa Verde’s drilling operation, a rather heated debate broke out over the county’s stance that it would not release its share of the bridge funding without a promissory note and guarantee.

PAGWAPA was formed in April 2014 as a means of exploring the local geothermal resource, with an eye toward possibly developing the resource for electrical power generation, or at least as a heat source for year-round greenhouses.

So far, PAGWAPA has received $4 million from the federal Department of Energy (DOE), $2 million from the Colorado Department of Local Affairs (DOLA) Energy Impact Funds and $520,000 from the county and the town, combined.

The DOLA grant is considered by the DOE as matching funds for its grant, and vice versa. All of this money has been combined to pay for drilling thermal gradient (TG) wells and analyzing the data produced by the wells.

The full version of this story is available in the print edition and e-edition of the Pagosa Springs SUN. Subscribe today by calling (970)264-2100 or click here.