The company behind plans for Utah’s first nuclear power plant, Salt Lake City-based Blue Castle Holdings Inc., has secured an agreement for $30 million in private equity financing from the New York-based LeadDog Capital LP.

The money would come over three years to help develop the reactors to potentially generate 4,500 megawatts of power at a new, Emery County industrial park at Green River. In exchange, LeadDog will receive newly issued common stock from the Utah company.

Blue Castle, headed by former Utah County legislator Aaron Tilton, said this week its project has attracted the interest of more than 15 utilities.

“This agreement provides Blue Castle with a flexible financing option that allows the company to raise and deploy capital when necessary and only under optimum conditions,” Tilton said in a statement. “The structure of this capital is very complimentary to our licensing schedule.”

The U.S. Nuclear Regulatory Commission has budgeted for beginning to review Blue Castle’s plans next year, the company said.

LeadDog focuses on private placement investments in microcap companies with market capitalizations under $250 million, through the purchase of various types of securities.

Judy Fahys