A Utah-based investment company has promised $150 million to the developers of a proposed nuclear power plant in Owyhee County.

Alternate Energy Holdings, which plans to build a 1,600-megawatt nuclear reactor and biofuels plant, announced Thursday that Silverleaf Capital Partners, a Salt Lake City-based investment firm, has committed the money for the AEH's federal application process.

AEH says the deal could be finalized by year's end.

"This provides the initial funding to launch an important project for Idaho and Western energy needs," said Don Gillispie, AEH's president and CEO. "We are now able to accept large equity investors who want to become minority owners in the West's only large, base-load nuclear power plant."

AEH announced in June that Cobblestone Financial Group of New York intended to fund the nearly $3.5 billion construction project. A spokesman for AEH reaffirmed Thursday that Cobblestone remains committed to the project.

Silverleaf Capital's contribution will fund the application process to the federal Nuclear Regulatory Commission, which could cost more than $100 million. AEH's has a deadline to complete the application process by the end of 2008.

Shane Baldwin, Silverleaf Capital's co-CEO and managing director, confirmed its intent Thursday.

The announcement comes just days after news that another nuclear power plant could be coming to Idaho. Iowa-based MidAmerican Energy is considering a nuclear plant for Payette County.