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Moapa Indians form renewables JV with Terrible Herbst Oil, Stronghold.

M2 EQUITYBITES-August 14, 2013-Moapa Indians form renewables JV with Terrible Herbst Oil, Stronghold(C)2013 M2 COMMUNICATIONS

14 August 2013 - Moapa Band of Paiute Indians said it had formed a joint venture with Terrible Herbst Oil Co and Stronghold Engineering Inc to install as many as 1.5GW of green energy capacity on tribal land.

Nevada-based fuel retailer Terrible Herbst is participating in the new company, called Moapa Energy, through its unit Herbst Energy.

The joint venture will design and build renewable energy capacity on a number of sites in the Southern Nevada Reservation which covers 70,000 acres (28,000 ha). As part of the agreement, the Moapa Band of Paiutes will keep majority stakes in all Moapa Energy projects on Moapa Reservation Lands, it noted.

The first scheme of the joint company is a 250-MW hybrid plant to combine solar photovoltaics (PV) and natural gas. It is estimated to generate 400m kWh per year, using the Sun during the day and gas at night. The project is being backed by the US Energy Department's Tribal Energy Program.

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Publication:M2 EquityBites (EQB)
Date:Aug 14, 2013
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