Archive for April, 2011
Three year plan: China to expand use of geothermal energy
In China, Earth Day brought an announcement from the Ministry of Land and Resources that the country will generate 1.7% of its total energy in 2015 from geothermal sources. A report in CRIEnglish says that the central government will allocate over $25 million to look into shallow-lying resources in 29 provincial capital cities.
This year [...]
Magma finds Icelandic buyer for part of HS Orka
In Canada, Magma Energy Corp. subsidiary Magma Energy Sweden AB has signed a term sheet to sell a 25% interest in HS Orka hf to a group of Icelandic pension funds. The purchase price of $71.5 million is about the same as the original cost of the acquisition. The deal includes an option until February [...]
Softbank CEO setting up energy foundation
In Japan, following his country’s nuclear disaster, Softbank Chairman Son Jung-ui , or Masayoshi Son, intends to spend over $12 million of his own money to set up an Energy Foundation in Japan. Son announced his plans to establish the foundation within a few months, noting that another nuclear crisis must be avoided. An advisory [...]
Panax signs Indonesia deal
In Australia, Panax Geothermal Ltd. has signed an agreement with a major Indonesian power company to develop a 165 MW geothermal project in East Java. The Binding Heads of Agreement was signed with locally-owned PT Bakrie Power to develop the Ngebel Geothermal Project. Bakrie Power was awarded the tender for the project in November 2010, [...]
Hot Rock portfolio in South America expands
In Australia, Hot Rock Ltd. said it has expanded its geothermal exploration portfolio in South America, with the addition of the Chocopata and Quella Apacheta geothermal tenements located in Southern Peru. The company now holds three granted tenements in Peru, along with eight tenements in Chile. Both the Chocopata and Quella Apacheta tenements are conventional [...]
Ormat to host Q1 earnings conference call
In Nevada, Ormat Technologies, Inc. has scheduled a conference call to discuss its first quarter 2011 earnings results at 9:00 A.M. Eastern time on Thursday, May 5. The company will announce the results in a press release to be issued on Wednesday, May 4, after the market closes. The conference call will also be broadcast [...]
Clean energy to highlight White House energy security forum
In Washington D.C., Deputy Secretary of Defense William J. Lynn and Deputy Secretary of Energy Daniel Poneman will join with outside security and energy experts to host a panel discussion on the national security implications of America’s oil dependency on Tuesday, April 26. The forum will highlight the ongoing collaboration between the Departments of Energy [...]
GeoPower Turkey added to TIREC 2011
In Turkey, GreenPower Conferences will host the 3rd annual Turkish International Renewable Energy Congress (TIREC), to be held in September in Istanbul. New in 2011 is the addition of GeoPower Turkey, which will provide a crucial forum for debate as the country gears up its geothermal efforts. The GeoPower conference will consist of 2 days [...]
Geo-exchange research underway in Oklahoma City subdivision
In Oklahoma, a consortium of more than a dozen geothermal companies is testing technology at eight homes in an Oklahoma City subdivision to see if geo-exchange systems can be made more affordable. The team is trying different equipment and methods of installing the systems. The first installation will use a new heat exchanger designed by [...]
DOE and HUD list lenders for homeowners in new pilot program
In Washington, D.C., U.S. Housing and Urban Development Secretary Shaun Donovan and U.S. Department of Energy Secretary Steven Chu announced the lenders that will participate in a new two-year pilot program that will offer qualified borrowers living in certain parts of the country low-cost loans to make energy-saving improvements to their homes. Backed by the [...]
