Archive for June, 2010
Magma announces four management changes
In Canada, Magma Energy Corp. said that Sandra Lim will retire as Chief Financial Officer June 30 and that Annette Cusworth has been appointed to replace her effective July 1. The company also named Jonathan Singh to the role of Controller. At Magma’s Reno office, Monte Morrison has been promoted to U.S. Country Manager and [...]
Hot Gold: Mining company opts to stay in the hot water it keeps finding
For Canadian gold mining company Radius Gold Inc., whose interests are primarily in Latin America, hot water is two things: an indicator of potential gold deposits or an impediment making those deposits impossible to exploit.
And now a third. The company intends to use its extensive knowledge of geothermal resources, and Guatemalan geology in particular, [...]
KenGen commissions 35 MW GT plant expansion
In Kenya, KenGen commissioned a 35 MW expansion unit at the Olkaria II power plant, the third unit at the plant. The power station, which is the largest geothermal plant in Africa, has a combined output of 105 MW. The project was co-financed by European investment Bank, the International development Association, and the Agence Francaise [...]
Petratherm likes RET scheme changes
In Indonesia, changes to the operation of the Renewable Energy Target (RET) scheme that recently passed the Senate got the seal of approval from Petratherm Ltd. The company expects the changes to provide more certainty to investors in the renewable energy industry. The changes effectively create two separate markets, one market for large scale projects [...]
Geothermal stocks among the month’s biggest gainers
Geothermal stocks were up 10.5% over the last 30 days in the Tickerspy indexes, as the global economy pushes more for green energy. The best performers stocks were Nevada Geothermal up 26.5%, US Geothermal Inc., up 9.9%, and Ormat Technologies Inc., up 4.7%. However, some analysts remain skeptical, given that the sector has grown only [...]
N.C. moves towards renewable-energy bill passage
In North Carolina, a bill to create a 25% tax credit for the construction of facilities used to manufacture renewable energy has cleared the House. It now heads to the state Senate’s finance committee. The credit applies to the construction of a variety of renewable-energy projects, including biomass, hydro-generation, solar, wind and geothermal heat pumps. [...]
Opinion: Geothermal Elbowing its Way into the Mainstream
Writing for International Business Times, Dave Forest says, “As I’ve mentioned a few times, geothermal looks to be approaching a rolling boil. Revolutions never happen over night. They build over years, with the signals going from subtle to strong. Judging from the geothermal news lately, we’re getting toward the latter.”
University report says solar and wind alone can power Australia by 2020
In Australia, a new report finds that the country can generate 100% of its energy needs from solar and wind by 2020. The report ignored the potential of geothermal or wave energy, because it was considering only options that are currently commercially available at this time. The Stationary Energy Sector Report was released by Beyond [...]
Ormat restarts volcano, hurricane-damaged plant
In Nevada, Ormat Technologies said that all three power units of the Amatitlan Power Plant in Guatemala have been returned to service and the plant is now selling power to the grid. This followed cleanup efforts that removed ash from the recent volcanic eruption. The majority of the damage has been repaired and additional work [...]
Raser starts Lightning Dock drilling
In New Mexico, Raser Technologies has begun drilling in the Lightning Dock area located in the Animas basin in the southwestern part of the state. The area is one of the most studied geothermal resources in the U.S. It was abandoned in the 1970s because the water is about 25 degrees F short of that [...]
