Archive for April, 2010
Buy Geothermal: Philippine geothermal company pick helps local students take world investment prize
In Hong Kong, the University of the Philippines won the fourth annual CFA Institute Global Investment Research Challenge (IRC), a worldwide competition that provides university students with real world experience in equity research and company analysis.
Competing against over 425 universities and 2,000 students from many of the world’s top finance schools, UP students Raymund [...]
Leyte governor backs demand to retain geothermal generation
Whereas in the U.S., states and counties are looking to keep large portions of the revenue from geothermal energy production, in the developing world, it’s the power they want. In the Philippines, Leyte Governor Carlos Jericho Petilla has said that he is in support of the move by electric cooperatives in the region with the [...]
Terra Energy negotiating on Indonesian project
In Connecticut, Terra Energy Resources, Ltd. said it is in negotiations with Pandawa Energy subsidiary Jala Tekno Geothermal based in Jakarta for possible areas of mutual cooperation, including finance, for the subsidiary company’s proven geothermal resource on Java. Tekno has successfully drilled a steam producing well, currently capped, that, according to the company has been [...]
Signing adds Germany to list of geothermal financiers
In Indonesia, that country signed $9.37 million soft loan package from Germany to fund geothermal projects in the country. The story said that some of the loan had been disbursed since 2007. Tthe Foreign Department’s Retno Masudi said after the signings with German Ambassador Norbert Bass that Germany has the technology for the projects while [...]
Geothermal, hydro expected to account for 40% of developing nations energy mix by 2030
In Asia, Dr. Xiaodong Wang, World Bank senior energy specialist for East Asia and Pacific region said that the use of renewable-energy sources is expected to account for 40% of developing countries’ power-generation mix. Interestingly, she added that most of the renewable-energy projects they see will be mostly based hydro and geothermal. In fact, solar [...]
Opinion: Government backed geothermal projects have banks opening their pocketbooks
Clifford Bryan of theexaminer.com notes that “The Obama administration is serious about getting the economy going in the right direction. To do this they have poured billions into renewable energy. Vulcan Power Co. recently secured a $108 million investment from Denham Capital to develop 300 megawatts of geothermal power in Nevada. The government backed project [...]
Vulcan Power names new chief executive
In Oregon, Craig Mataczynski has been named Chief Executive Officer of Vulcan Power Co. He replaces Robert Warburton who has served as acting CEO while the search for a permanent CEO was conducted. Mataczynski will join the company once his obligations to Renewable Energy Systems Americas have ended and will also serve on the company’s [...]
Calpine to take Conectiv Energy fleet for $1.65 billion
In Texas, Calpine Corp. said it has agreed to purchase 4,490 MW of power generation assets from Pepco Holdings, Inc. for $1.65 billion plus adjustments. The purchase of the Conectiv Energy fleet is expected to close by June 30. The operations include 18 operating power plants and one plant under construction. While none of the [...]
2010 UC Davis geothermal forum agenda set
In California, UC Davis has released a draft agenda for the 2010 California Geothermal Forum. Jay Nathwani, acting manager of the DOE’s Geothermal Technologies Program will deliver the keynote address and Mary Nichols, Chairwoman, California Air Resources Board will keynote the afternoon session. Among the list of topics for the one-day event are: the Role [...]
Panax well needs additional clean flow prior to productivity texts
In Australia, a short term clean-up flow at Panax Geothermal’s Salamander-1 indicate that the well will need further clean-up before the long term flow or well productivity test can be done. A second clean-up has been scheduled for the week starting May 10. The long term flow or productivity test, which is designed to convert [...]
