In Idaho, U.S. Geothermal Inc. entered into a securities purchase agreement with several institutional investors, where the company will issue 8,209,519 shares of common stock at $1.05 per share for gross proceeds of about $8.6 million. Each investor will also be issued a common share purchase warrant exercisable for 50% of the number of shares [...]
In Nevada, Ormat Nevada Inc., a wholly-owned subsidiary of Ormat Technologies, completed its acquisition of membership interests in the Hot Sulphur Springs II LLC, which includes the Tuscarora project. Ormat plans to construct and operate the project, which is in an advanced stage of development. The project is expected to become operational in 2012 and [...]
In the Philippines, the Energy Department signed an 26 more renewable energy, including six for geothermal projects. The contracts that are expected to generate a total of 466 MW of power, 315 MW from geothermal alone, and investments of about $277 million. The GT projects will produce 68% of the energy at only 8% – [...]
In Australia, the state government of Western Australia has granted ten new exploration permits to companies looking to develop geothermal energy projects. Eight of the new permits were granted to companies exploring the greater Carnarvon Basin in the state’s northern region, the second area of Western Australia released to competitive bidding for geothermal exploration. Two [...]
In New Zealand, Mighty River Power posted an interim result of $73.9 million net profit, crediting its success on a diversified generation strategy and geothermal development. Revenue of $521.8 million was down only slightly compared to $581.1 million in the same period last year, but the company said this reflected lower wholesale prices due to [...]
In Washington, the Gethermal Energy Association will host a one-day Global Geothermal Showcase and Forum on Friday, May 21, 2010 9:00am-5:00pm, Washington, DC. The event will provide a showcase of current geothermal projects and policies in the U.S. and around the world. The day’s agenda will include presentations and panel discussions by U.S. and international [...]
In Colorado, and in the wake of a postponed geothermal lease sale in Chaffee County, the Bureau of Land Management is considering two areas totaling about 9,000 acres proposed for leasing for GT development to the west in southeastern Gunnison County. The agency is gathering public comment as it begins an environmental analysis of the [...]
In London, a new report from Frost & Sullivan finds that the Kyoto Protocol and EU 2020 energy targets are slowly altering the energy industry landscape, gradually shifting energy consumption from coal, oil and natural gas, towards renewable energy sources. A carbon-free future is a threat to oil and gas companies with declining business growth [...]
In Pennsylvania, a story about a local home show turned up a quote from Ray Venema an owner of Susquehanna Builders, who said that three of every four new homes he builds within an 80-mile radius of Williamsport include geothermal units. Venema noted that homeowners are taking advantage of federal tax credits, which can offset [...]
In Colorado, State Rep. Max Tyler has introduced House Bill 1001 intended to increase Colorado’s renewable energy standard by 50%, requiring large utility companies to generate 30% of their electricity from renewable sources by 2020. The bill would also provide incentives to develop community-scale wind, geothermal and small hydro-electric power in addition to solar power. [...]
