AEHI sounds off against detractors

BOISE -- A new report raises questions about a company that wants to build a multi-billion dollar nuclear power plant in Idaho.

A mandatory audit of Alternate Energy Holdings Inc. indicates the company may not have the financial juice to get it done.

It's always been an ambitious undertaking -- a permit to build a nuclear power plant hasn't been granted in the U.S. since 1973.

But now a new report highlighting AEHI's financial woes has the prospect becoming even grimmer.  

According to a new audit, the company’s losses total $3.4 million, leave Alternate Energy Holdings in danger of going out of business.

But company spokesman Martin Johncox says they're still moving forward with the plant in Elmore County, and are in the process of securing more money from a Texas-based company.

“We’re a small startup company, people should not expect us to earn money when we have the kind of project that we do with the kind of timeline that it has,” said Johncox.

But Andrea Shipley with the Snake River Alliance says the company’s financial problems are just one piece of the pie.

“Considering Alternate Energy Holdings moved from Virginia to Idaho, they have nothing to show for it for over a year of work. Idahoans were skeptical before and they're skeptical now,” said Shipley.

According to the Nuclear Regulatory Commission, AEHI plans on applying for a nuclear power permit before the end of the year, but they've had surprisingly little contact with them.

AEHI says the power plant will be online by 2016.

Areva, the French-based company planning to build a uranium enrichment near Idaho Falls is still moving forward with plans.

Construction on that plant is set to begin as early as 2011.