Archive for October, 2009
Residents unhappy with Bottle Rock expansion plans
In California, people living around the Bottle Rock Power geothermal plant are not happy with the company’s expansion plans. The meeting was held with state and local officials to get comments from the community on what environmental issues should be considered in preparing an environmental impact report, which is to be completed by the summer [...]
GreenFire combines GT with CO2 sequestration
In Utah, startup GreenFire Energy wants to replace the water used to convert geothermal energy to electricity in steam turbines or binary systems with CO2. What the company calls “CO2-G or CO2 Geothermal they claim will permanently sequester carbon. In their plan, CO2 – from natural sources or captured from man-made sources such as coal-fired [...]
U.S. DOE awards $338 M to accelerate geothermal development
In Washington, DC, the Department of Energy announced funds to support 123 projects in 39 states that will the development of domestic geothermal energy. The projects will get a total of $338 million Recovery Act funding in support of project and technology deployment and data collection. In addition, the monies will be matched more than [...]
Asia Dev Bank to fund Lahendong geothermal plant
In Indonesia, the Asian Development Bank back 90% of the construction cost of the Lahendong IV geothermal power plant in Tomohon, North Sulawesi with a $40 million loan. Construction of the 20 MW plant will begin in 2010. The bank had previously loaned $30 million to finance the construction of Lahendong II, another 20 MW [...]
Magma Energy gets two Nicaragua GT concessions
In Canada, Magma Energy and Ram Power subsidiary, Polaris Geothermal have been awarded two geothermal concessions in Nicaragua, “Volcan Mombacho” and” Caldera de Apoyo”. Polaris will be the operator and each company will contribute equally to the project costs. Caldera de Apoyo is 10 km south of Masaya and 10 km west of the colonial [...]
Frankfurt Airport owner planning geothermal plant
In Germany, the owner and operator of Frankfurt Airport, Fraport, is exploring the possibility of developing a deep geothermal power plant in Walldorf, Germany. Once and if it is built, the plant would use a combination of geothermal power and biogas to produce electricity and heat, which would be used at the airport. D & [...]
Mannvit partners with Technip on U.S. projects
In Iceland, Mannvit Engineering and Technip have signed a partnership to develop geothermal projects in the U.S. and will use Technip’s Claremont, CA operating center. The partnership offers project developers and financiers a single point of responsibility for all key areas of geothermal development, which include consulting, research, financial analysis, project and risk management, and [...]
Magma closes private placement to buy stake in HS Orka
In Canada, Magma Energy Corp. completed a private placement announced on October 15. The company issued 11,652,639 common shares at a price of $1.74 per share for gross proceeds of about $20.2 million and net proceeds of $19.5 million. The proceeds will be used to finance Magma’s purchase of an initial 8.62% interest in geothermal [...]
What does it take to build a GT plant? Cobb Mt expansion meeting coverage provides end-to-end details
In California, coverage of a Lake County meeting on a proposed expansion of a geothermal project on Cobb Mountain by Lake County News Reports included a detailed examination of the extensive issues that must be dealt when siting and building geothermal facilities. And this for an expansion of an existing site that resides within The [...]
This week in Geothermal Opinion: Big oil backing geothermal
Marin Katusa, Chief Investment Strategist for Casey’s Energy Report notes a number of new green announcements from the world’s major oil firms, including ExxonMobil, Chevron, Valero, Statoil, Marathon, and Sunoco. And, he says, this time, rather than greenwashing, the companies are beginning to see alternatives as real businesses that might turn real profits. Katusa points [...]
