A Utah-based clean energy firm is one step closer to building a geothermal power plant in southern New Mexico.
Cyrq Energy Inc. subsidiary Lightning Dock Geothermal has signed a $65 million engineering, procurement and construction contract with Ormat Nevada Inc. to build the binary plant near Animas.
In addition to building the plant, Ormat will provide construction financing.
Officials with the project say the Lightning Dock plant is expected to come online by the end of 2013. Early engineering will start as soon as the basic well field characteristics are confirmed.
Cyrq Energy emerged as a restructured company following the bankruptcy of Raser Technologies. Cyrq has one operating geothermal power plant in southern Utah in addition to geothermal interests in other states and Indonesia.