Alliance established for the development of Alaska-based geothermal venture

Chena Power, LLC and Ounalashka Corporation have started a firm that intends to generate, at the Makushin Volcano in Unalaska, Alaska, geothermal power. In Unalaska, the geothermal generation has undergone nearly thirty years of false beginnings. It was understood that the reasons behind these failures were huge start-up expenses.

The new firm, with the city council’s support, is looking to acquire a loan of between $350 and 50....