Grant County Public Utility District has authorized the sale of bonds exceeding $252 million to fund improvements to the Priest Rapids and Wanapum hydroelectric developments, which comprise the 1,893-MW Priest Rapids project (No. 2114) on the Columbia River.
District commissioners voted Nov. 30 to authorize issuance and sale of Priest Rapids development revenue and refunding bonds totaling about $65.7 million, and Wanapum bonds totaling about $186.3 million. The board approved the sale through an underwriter, Citigroup.
Of the Priest Rapids bond revenue, $60.27 million is to be used for generator restoration, powerhouse improvements, fish and wildlife programs, and other plant modernization activities. The remaining $5.43 million is to be used to refund prior bonds. Of the Wanapum bond revenue, $158.05 million is to be used for generator restoration, turbine replacements, powerhouse improvements, fish and wildlife programs, and other plant modernization activities. The remaining $28.275 million is to be used to refund prior bonds.
The expenditures are expected to be made during 2007 and 2008, Grant County PUD Treasurer Nick Gerde said.
In its relicense application to the Federal Energy Regulatory Commission, Grant County PUD proposes adding more than 225 MW of capacity through turbine upgrades at Wanapum and Priest Rapids. The upgrades would increase total capacity by 225.2 MW, to 1,994 MW from 1,768.8 MW. The licensee plans to install new advanced design turbines to improve fish survival. (HNN 8/18/06)
In November, FERC staff issued a final environmental impact statement that endorsed relicensing the project. (HNN 11/23/06)
