Archive for January, 2010
APC approves capital restructuring program
In the Philippines, the board of APC Group Inc. approved a capital restructuring plan to reduce the company’s deficit. APC holds the contract for the 26,250-hectare service area in Batong Buhay, Kalinga with a generation potential estimated between 120 MW and 200 MW. Company chairman Willy Ocier says they are currently in talks with a [...]
SGP board wins proxy fight and makes concession to dissidents
In Canada, Sierra Geothermal Power Corp. said that Exploration Capital Partners 2005 Limited Partnership withdrew its proposal that Sierra increase the size of its board of directors from six to thirteen. The action came during a shareholder meeting held January 26. However, in a meeting held immediately afterwards, SGP’s board decided to increase the number [...]
Native New Zealanders building geothermal collective
In New Zealand, Te Arawa iwi are looking at building a collective to develop geothermal power in the Bay of Plenty. Te Arawa is a confederation of native Māori iwi and hapu tribes and sub-tribes based in the area. The Te Pumautanga o Te Arawa organization – which received Treaty settlements worth $85 million last [...]
Indonesia scales back geothermal production capacity
In Indonesia, the mines and energy ministry said that the country has cut the planned capacity of geothermal power plants it intends to build this year by 18%. Director general of electricity at the ministry J. Purwono said that a careful examination of the projects found that only 3,900 MW of could be built in [...]
Recovery Act leads to ground source business boom in Florida
In Florida, Egg Geothermal Air Conditioning and Pool Heating has seen business climb 20%. Owner Jay Egg said the phone started ringing again last year, after Congress passed the American Recovery and Reinvestment Act. The stimulus package gives residential purchasers of a qualified geothermal system a 30% tax credit on the cost. Commercial customers can [...]
Nevada could take geothermal energy production lead
In Nevada, a new report from the Geothermal Energy Association says that the state could soon challenge California as the production leader in geothermal energy. While it currently has only 448 MW of production compared to California’s 2,605 MW, some 1,200 MW are in the final stages of development. Only 374 MW are in the [...]
Ram wins two Chilean concessions
In Nevada, Ram Power, Corp. through its subsidiary, Polaris Energy Chile Limitada has won two geothermal concessions in Chile. Called Aucan I and “Laguna Verde”, the concessions were granted following a competitive bidding process. The company said that the sites both exhibit associated high-temperature fumaroles, which are features common to large and quality reservoirs. Aucan [...]
This Week in Geothermal Opinion: Does geothermal drilling cause earthquakes?
In an article published in Renewable Energy World, the Geothermal Energy Association’s (GEA’s) Karl Gawell responds to the question with “The answer is no, geothermal drilling does not cause earthquakes. Geothermal energy facilities have been providing clean renewable power to America’s electricity grid for nearly fifty years without any significant earthquake events.” While readers here [...]
The greening of New Mexico: Governor’s orders include full-scale geothermal development
In New Mexico, Gov. Bill Richardson has signed an executive order that strengthens state efforts to promote a green economy in New Mexico. Executive Order 2004-19 declares New Mexico the “Clean Energy State,” and created a Clean Energy Development Council (CEDC) and directs six cabinet offices to support and participate, overseeing planning and development [...]
Report says recovery act supported 63,000 jobs in the last quarter
In Washington, the Council of Economic Advisers (CEA) issued its second quarterly report on the economic impact of the American Recovery and Reinvestment Act of 2009. Among the findings are that, as of the end of the fourth quarter of 2009, $263 billion of the total $787 billion included in the Act, or about one-third [...]
