Archive for February, 2011
NGP cracks 2011 TSX Venture 50
In Canada, then TSX Venture Exchange named Nevada Geothermal Power Inc. as one of the TSX Venture 50, a ranking of strong performers listed on the Exchange. The 2011 list is made up of ten companies from each of five sectors; Clean Technology, Mining, Oil & Gas, Diversified Industries, and Technology & Life Sciences. The [...]
Setting a carbon price would create jobs and boost investment
In Australia, a report by the Climate Institute says that a substantial carbon price aimed at cutting greenhouse gas emissions by 25% by 2020, backed by renewable energy policies, could help create 34,000 jobs in regional Australia. The research says the move would trigger the flow of tens of billions of dollars of investment in [...]
Give and Take: Geothermal fares better in the 2012 budget, but loan guarantees are threatened
In Washington, D.C., President Barack Obama included $29.5 billion for the Department of Energy in his Fiscal Year 2012 budget request. Energy is a main focus of an Administration-wide plan to win the future by out-innovating, out-educating and out-building the rest of the world”. The Geothermal Technology Program (GTP) is a small player inside [...]
Two developments in Mexico under way
In Mexico, the Comisión Federal de Electricidad (CFE) awarded Alstom contracts to build two 25 MW power plants in the geothermal field located in the Puebla state of Mexico, 140 miles southeast of Mexico City in May and December 2009. The 50 MW from Los Humeros II units 9 and 10 will add to the [...]
Petratherm tests Paralana 2 well
In Australia, Petratherm and its JV partners, Beach Energy and TRUenergy Geothermal say that the recently completed Stage 1 – Injectivity test of the Paralana 2 well successfully fractured rock. The company also reported that monitoring equipment detected over 140 microseismic events during the injection and noted that these events are 10,000 times smaller than [...]
First private geothermal power plant in Bavaria financed
In Bavaria, BayernLB has picked up financing for a geothermal plant in the Free State of Bavaria with development company Süddeutsche Geothermie-Projekte Gesellschaft (SGG). HOCHTIEF PPP Solutions and RENERCO Renewable Energy Concepts AG each own a 50% share of SGG, which has already drilled to a heat source at over 15,000 feet. Nearly $50 million [...]
Ram notes project cost overruns; names interim CEO
In Nevada, Ram Power, Corp. updated work at the San Jacinto-Tizate power project. It has suffered from “unfavorable variances in some material and labor costs and the construction delays” and is three months behind schedule. The company said that new wells SJ 12-1, SJ 9-2 and SJ 12-2 are not capable of sustaining continued commercial [...]
Growth causes EnLink Geoenergy adds VP of operations
In California, ground source system developer EnLink Geoenergy Services has added Ed Ziaebrahimi as Senior Vice President of Operations. He will be responsible for all field operations, project performance, client relations and contract management. Ziaebrahimi has 25 years experience in the construction industry handling all facets of managing major projects and was recently the senior [...]
Webinar on project implementation set
In Washington, D.C., the Department of Energy Federal Energy Management Program will present a Federal Renewable Energy Project Implementation webinar on Thursday, February 24, 2011. The webinar walks Federal energy managers through the renewable energy project process from the request for proposal to project closeout. Energy managers attending the course will be guided through the [...]
Magma deepens losses in second quarter
In Canada, Magma Energy Corp. reported a net loss for second quarter ended December 31 of $9.1 million or $0.03 per share, compared to a loss of $5.2 million ($0.02/share) for the same period last year. Revenues from energy sales for the second quarter of fiscal 2011 were $18.8 million and total costs of production [...]
