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SEPA says third-turbine funding largely in place; June 21 outage under investigation
Summary
Southeast Alaska Power Agency (SEPA) reported that funding for a third turbine at the Tyee project is substantially secured though some amounts remain promised but not yet in hand; SEPA also described a June 21 outage triggered by an oil-level alarm that is under review.
SEPA (Southeast Alaska Power Agency) board chair and Assembly Member Lynn reported to the Petersburg Borough Assembly on July 7 that SEPA has advanced funding and procurement steps for a proposed third turbine at the Tyee project and is investigating a June 21 system outage triggered by an oil-level alarm in a generator bearing.
Lynn said the total estimated cost for the third turbine is $24,000,000. Secured funding includes a Department of Energy Section 247 grant of $5,000,000 and a Renewed Energy Fund Round 17 grant of $4,000,000 (total secured $9,000,000). Lynn said additional but not yet secured funding sources include $4,500,000 in congressionally directed spending being evaluated through Senator Murkowski’s office and an estimated $12,000,000 federal investment tax credit cash-equivalent; if those commitments materialize, the project would be fully funded…
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