Archive for March, 2010
Ormat facing two class action suits
In Nevada, since it restated its 2008 results, Ormat Technologies now finds itself facing two class action law suits, purportedly on behalf of investors. So far Pennsylvania firm Howard G Smith and Glancy Binkow & Goldberg LLP of California have filed suits in Nevada and are looking for investors to join in. As this item [...]
Dayton looking to geothermal to drive downtown development
In Ohio, the city of Dayton is looking to geothermal as part of a strategy to fuel economic development. The city is looking for proposals to study the feasibility of developing a geothermal district to pump water to downtown buildings. Those with the proper equipment would use the water for heating and cooling. Timothy Downs, [...]
GEA looking for input for next update
In Washington, the GEA is asking those in the geothermal business to send information on any projects in development for which you would like to submit or any other information to update for its next U.S. Geothermal Industry Update. Release of the Update is planed for early April. To be sure you are included, project [...]
Opinion: Geothermal energy plan could save Iceland’s economy
Brendan Demelle of EnergyBoom.com writes “Despite its obstacles, ‘Energy for Debt’ presents a new way of thinking that has the potential to supply Europe with a renewable source of clean energy while simultaneously jump-starting Iceland’s troubled economy. Iceland recently came one big step closer to making the innovative ‘Energy for Debt’ plan a reality, when [...]
Facing financing challenge, West Indies Power gets delivery extension
On the Caribbean island of Nevis, the Nevis Island Administration (NIA) has granted a request for an extension from West Indies Power Ltd. for the delivery of geothermal power originally set for December 2010. The extension runs to June 2011. The item from Caribbean Net News indicated that West Indies Power has had difficulty with [...]
Waste heat technology Green Machine gets Midwest distribution
In Michigan, start-up ProRenewables has entered the renewable energy business with Green Machines, a heat-to-power generator technology from ElectraTherm, Inc. that uses waste heat to produce electricity. ProRenewables calls the Midwest an ideal location for recovered energy generation given the region’s factories, power plants, paper and steel mills, food processing facilities and other heavy industry. [...]
SGP updates corporate strategies and project development
In Canada, Sierra Geothermal Power Corp. updated its efforts to either find a suitable merger or joint venture partner or a purchaser for the company, as well as its project development. The update added little to its corporate plans, other than to say that its financial advisor, Jacob Securities Inc., had circulated a detailed confidential [...]
Raser gains revenue, narrows loss
In Utah, Raser Technologies Inc. reported results from the fourth quarter and full 2009 year. The company posted narrower losses, as it now sells electricity from its Thermo 1 plant, which came online in the second quarter. The fourth-quarter loss was $5.8 million compared to $23.8 million a year ago with revenues rising to $942,000 [...]
New IKEA store to feature the first U.S. use of geothermal
In Colorado, Sweden-based IKEA has begun work on a 415,000-square-foot Denver-area location. What got our attention is that one of the contractors is Geothermal Systems of Colorado, which is “designing a geothermal component” for the store. The retail store will feature architecture that is identical to other IKEA locations worldwide, but one will be the [...]
GT projects spark forest concerns
In Indonesia, environmental activists are wary that their support for building geothermal plants in protected forests will be an excuse for the government to allow companies to operate mines in the areas. The issue was raised after a new regulation allowing underground mining in protected forests was passed. Activists say geothermal plants pose different environmental [...]
