Archive for September, 2009
Masdar sets Nov. 1 geothermal project start date
In Abu Dhabi, Masdar City will start drilling a pair of four km wells in the hope of generating electricity from geothermal energy. It is the first Persian Gulf geothermal project and is intended to power the city’s air conditioning systems from the expected 5MW of electrical output. The total cost of the project is [...]
Origin Energy to buy into Eden geothermal license
In Australia, Eden Energy Ltd. has entered into an agreement with Origin Energy Ltd. for Origin to buy into Eden’s Cooper Basin Geothermal License No. 185 in South Australia. Origin, a major Australian energy utility, will pay $1 million cash to Eden and will take on the first $500,000 of expenditure on the license. Origin [...]
Canadian company pioneers new sewer lines that bring a return on waste heat
In Canada, a new residential development will be the first to capture waste heat from its sewer lines. Sudbury Ontario has approved the use of re-enforced pre-cast concrete pipe that are lined with geothermal piping channels. The pipes are installed like any other, with exterior connectors added that join up the channels. These channels, which [...]
New Zealand to double well depths
In New Zealand, scientists intend to look deeper than ever for heat. Currently, steam from existing hot aquifers drawn from as deep as 3.5km powers seven electricity stations in the country, six of them in the Taupo Volcanic Zone, generating about 640MW a year, or 10% of the country’s electricity. They are now on a [...]
Iceland FM calls geothermal potential “vastly underestimated”
In New York, Iceland’s Foreign Minister Ossur Skarphedinsson, speaking at the UN General Assembly’s general debate, talked of his country’s transition to renewable fuels, noting that they now meet most of their energy needs. Iceland is well known to have tremendous geothermal potential near the surface, and Skarphedinsson pointed out that many countries of the [...]
Portsmouth condos go geothermal
In New Hampshire, a four-unit condominium project in Portsmouth will be heated and cooled by geothermal energy. Developer Steve Kelm says energy costs will be reduced by an estimated 65% relative to conventional units. He also expects that higher initial costs from installation will be offset through the energy savings after about five years.
High school joins colleges with new geothermal system
In Ohio, a new $3.7 million student activity center at St. Vincent-St. Mary High School in Akron, a geothermal system installed by Akron-based Middleton Corp. will provide heating and cooling and will allow the building to be all-electric. The system cost about $100,000 more than a traditional HVAC system to install, but the school expects [...]
New winery building using geothermal, solar combo
In Pennsylvania, a new state-of-the-art, 3,000-square-foot building at the Crossing Vineyards in Upper Makefield employs geothermal heat and solar roof panels for electric power. Winery owner Tom Carroll expects the $80,000 investment to make the winery free of electric bills in five years and to see a return in less than 10. He is working [...]
Sierra Geothermal announces $4 Million private placement
In Canada, Sierra Geothermal Power Corp. is looking for as much as $4,000,000 in a private placement of up to 18,181,818 units at a price of $0.22 per unit. Each unit will consist of one common share and one non-transferable common share purchase warrant and each warrant will entitle the holder to purchase one additional [...]
EDC to issue bonds for debt refinance
In the Philippines, Energy Development (EDC) Corp. will sell up to $210M in retail bonds to help refinance its foreign currency-denominated loans. EDC disclosed that it had sought approval from the country’s Securities and Exchange Commission to issue $125M in retail bonds, with an additional $85M oversubscription option. The company recently bought the Palinpinon-Tongonan geothermal [...]
