The City of Riverside set a 50 percent renewable target for 2014, but the economic downturn could impede its goal. The city utility recently reached agreements for 96 MW worth of geothermal deals with the Shoshone Indians in Utah. These contracts are largely responsible for the municipality\u2019s planned increase in alternative power resources over the next few years. Austin Carter, Riverside spokesperson, acknowledged that the \u201cproject financing is impacted\u201d by the market instability. He added, however, that Shoshone \u201cbelieves it will get financing and continues to work with various banks.\u201d In addition, the federal government gave final approval to a $20 million loan guarantee, expected to cover 90 percent of the project\u2019s cost. As of last June, 10 percent of Riverside\u2019s power came from alternative energy resources. Riverside and Shoshone Renaissance signed a deal for 64 MW of geothermal expected to come on line in 2011. The price is $77\/MWh. They signed a second agreement for an additional 32 MW of power from geothermal wells for $83.75\/MWh beginning in 2013. Transmission lines that currently carry coal-fired power from Utah to the muni will carry the geothermal juice. Riverside has a contract for 52 MW of coal power that expires at the end of this year and will be replaced by the renewable resources, according to Carter. To lower its project cost, Shoshone, which is a tax exempt entity, reached an agreement under which another outfit can take advantage of the project\u2019s federal production tax credit and depreciation. The Riverside muni also plans to expand an existing geothermal agreement from 20 MW to 26 MW by early June.