Archive for March, 2010
GT pioneer named UAF business leader of the year
In Alaska, the University of Alaska Fairbanks has named geothermal entrepreneur Bernie Karl their 2010 Business Leader of the Year. And this only six years after Forbes Magazine dubbed his attempt to build the Aurora Ice Hotel the “Dumbest Business Idea of the Year. His new title stems from the use of the Chena Hot [...]
Follow the money: $400 million Indonesia commitment has players scurrying
In Indonesia, the news came fast and furious over the week on the heels of a $400 million commitment by the World Bank’s Trust Fund Committee of the Clean Technology Fund (CTF) to help transform Indonesia’s use of renewable energy endorsed. The plan will use co-financing from the multilateral CTF to expand large-scale geothermal [...]
Kenya buying drilling rigs for GT search
In Kenya, Energy Minister Kiraitu Murungi said the country is buying two drilling rigs for $36 million and wants to acquire five more to speed up exploration for steam fields that will be used to generate geothermal energy. He noted that private exploration companies have delayed plans to start the search for hot water and [...]
New Guinea encouraged to tap geothermal resources
In, New Guinea, the government is being encouraged to consider using the country’s geothermal reservoirs as a major source of renewable energy in the future. One of Australia’s leading geothermal energy companies, Kuth Energy, has carried out some exploration work in Papua, NG. The company’s managing director David McDonald says the area has huge potential [...]
Report says G4G’s Argentine resources could hold up to 85 MW
In British Columbia, an independent report by GeothermEx, Inc. estimates that the Despoblados prospect in San Juan, Argentina belonging to G4G Resources Ltd. could range between 8 to 17 MW for 20 years of production. It also says that a resource may be present if further exploration shows its area and/or thickness to be greater [...]
Swan Hills well heat recovery project approved for grant
In British Columbia, a $2.6 million grant has been approved by the Alberta Energy Research Institute for the Swan Hills oil and gas production field that will use hot waste water that is currently pumped back into the ground to generate electricity to be used as an alternative or supplementary source of power. The grant [...]
Opinion: Immelt wants Obama to sell Indonesia hard on U.S. exports
At businessweek.com, Bloomberg says that General Electric Co. Chief Executive Jeffrey Immelt wants Barack Obama to “sell hard” in Indonesia as he extols U.S. expertise in industries such as clean energy, adding that he may have to play catch-up, with Premier Wen Jiabao making China’s pitch in Jakarta ahead of him. Speaking at the annual [...]
Flow sensor ideal for geothermal systems
In Massachusetts, Hudson, Clark Solutions has released a new family of liquid vortex flow sensors ideal for in solar and geothermal hot water systems and equipment. DN Series Flow Sensors are accurate to 1% fs of measured value and are available for less than $100 in quantity. The sensor line also provide direct temperature measurement [...]
Ram taps fund sources for San Jacinto-Tizate expansion
In Nevada, Ram Power, Corp. subsidiary Polaris Energy Nicaragua S.A. said it had satisfied the conditions required to draw down the credit loan facility with the Central American Bank for Economic Integration, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., Export Development Canada, and Cordiant Capital. Conditions included a corporate equity investment, which already has been fully invested. [...]
EDC steams to higher 2009 profits
In the Philippines, geothermal developer Energy Development Corp. reported earnings rose 25.5% to to $163 million in 2009 from $129 million the previous year. The company cited higher revenues, currency movements, and accounting adjustments brought about by a new Renewable Energy law. Revenues rose by $60 million on increases in electricity sales and drilling services [...]
