Archive for November, 2009
Recovery Act funding recipient profile III: Berkeley Lab to focus $7 million on enhanced geothermal technologies
In California, Lawrence Berkeley National Laboratory has been awarded $7 million in recovery act funding for four projects that seek to advance Enhanced Geothermal Systems (EGS). EGS holds the promise of harnessing the Earth’s heat where conventional geothermal technologies cannot. The funding is part of an original package announced by the Department of Energy in [...]
Bureaucracy slows renewable energy projects in CA
In California, the San Francisco Chronicle says that a recent government report shows that delays have hit more than half of the big solar, wind and geothermal energy projects under development in the state. The conclusion is that As a result, California is unlikely to meet its goal of getting 20% of its electricity from [...]
KenGen bond offer to fund 500MW in geothermal
In Kenya, Kenya Electricity Generating Co. said its $200 million Public Infrastructure Bond Offer, concluded on September 29, had been oversubscribed by 77%. This allowed the company to take up an additional $133 million through a greenshoe option, which is a provision that allows an issuer to scale up an offer in the event of [...]
Report after report has Kenya charging forward with alternative energy plans
In Kenya, the country says it will, with the support of donors, set up a $2 billion revolving fund to lend those investing in geothermal, solar and wind electricity production projects. The Ministry of Finance said World Bank, French Development Agency, KfW of German and African Development Bank had agreed to help the government set [...]
NGP receives grant money, starts Blue Mountain drilling
In Canada, Nevada Geothermal Power Inc. has the $57.9 million in federal grant money in hand and says that drilling is underway to optimize the Faulkner 1 plant. Ensign Drilling in contracted to complete three wells, two deep injector wells and one production well, which are designed to increase the Faulkner 1 plant output from [...]
Sharia-compliant green investment vehicle in the works
In Hong Kong, based private equity firm Middle East & Asia Capital Partners Pte is intent on attracting attract Islamic capital by adding a sharia-compliant investment vehicle to its clean energy fund. The company is targeting $100 million in first round of funding by mid-December. The fund already has $20 million from Asian Development Bank [...]
This week in Geothermal Opinion: Geothermal power more sensible than nuclear
From the Los Angeles Times: On the U.S. Senate currently considering the construction of new nuclear power plants, “The nation’s fleet of 104 nuclear plants supplies nearly 20% of our electricity. Building 100 more, as nuclear proponents have proposed, would supply a vast amount of carbon-free energy, and do so 24 hours a day without [...]
This week in International Geothermal Opinion: Indonesia’s geothermal development hampered at all levels
From the Jakarta Post, Hanan Nugroho writes that the Indonesian government plans to implement its second 10,000-MW power development program, which is to start delivering the electricity by 2014. However, he adds that “the program is challenged by several constraints: a weak tendering process, lack of sufficient and reliable data, lack of human resources, inadequate [...]
Geothermal systems to lead German carbon-free energy growth
In Germany, a Deutsche Bank report says geothermal energy will grow faster in the country than other carbon-free energy sources. The report says that Germany has the potential to generate about a fifth of its heating requirements using geothermal, which could be valued at $37 billion to the building industry through 2030. In electricity generation, [...]
CanGEA to host investment workshop
In Canada, the Canadian Geothermal Energy Association (CanGEA) announced the 2009 Geothermal Power Investment Workshop and Networking Reception, which will be held December 3rd, 2009 in Calgary, Alberts. The event brings together investors, financiers and stakeholders in the geothermal power industry to explore opportunities in the energy sector. Attendees will learn geothermal power basics, explore [...]
