All Entries in the "Company News" Category
NZ deal largest ever for Ormat
In Nevada, Ormat Technologies, Inc. has nabbed Supply and the Engineering, Procurement and Construction, (EPC) contracts that represent the largest product order in the company’s history. The deal was signed by two of its subsidiaries with Mighty River Power Ltd. of New Zealand for the first stage of the Ngatamariki geothermal project and is valued [...]
NGP closes on Imperial Valley asset purchase
In Canada, Nevada Geothermal Power Inc. (NGP) along with Iceland America Energy, Inc. (IAE) have closed their deal giving NGP 100% ownership of IAE’s geothermal assets in Imperial Valley, CA. The properties include the New Truckhaven, East Brawley and South Brawley projects and were acquired for $680,000 in cash and 6,074,069 shares, which are to [...]
Alterra sells 25% of HS Orka back to local Icelanders
In Canada, Alterra Power Corp. announced the signing by its wholly-owned subsidiary, Magma Energy Sweden AB, of a share purchase agreement with Jarôvarmi slhf as well as the completion of the sale. According to the terms, Magma Sweden sold a 25% interest in its 98.5%-owned HS Orka hf to Jarôvarmi, owned by a group of [...]
Ormat talking Alaska, Hawaii explorations
In Alaska and Hawaii, Ormat Technologies Inc. is pursuing opportunities to get a foot hold (Alaska) or expand (Hawaii). The company has begun a second year of exploration at the company’s Mount Spurr geothermal project, which is an active volcano 75 miles southeast of Anchorage. In Hawaii, Ormat is looking at ranch land on the [...]
Reservoir points Minerals to spin-out with private placement
In Canada, Reservoir Capital Corp. said that Reservoir Minerals Inc. has completed a non-brokered private placement financing with aggregate gross proceeds of approximately $9.6 million. The move is aimed at a spin-out of Minerals and making Reservoir Capital Corp. a step closer to becoming a pure-play renewable energy company. Miles Thompson, Chairman of Reservoir Capital, [...]
Calpine honors geothermal pioneer
In California, Calpine Corp. held a brief ceremony last week dedicating a small park within The Geysers steam fields to the late Joseph Aidlin. Aidlin pioneered legal issues and influenced legislation enabling development of geothermal power production. Calpine Corp. purchased a one-megawatt interest in the power plant named for Aidlin in 1989 and today is [...]
Ormat adds $20 million contract to backlog; loan guarantees in process
In Nevada, Ormat Technologies, Inc. says its subsidiary entered into a supply contract with Norske Skog Tasman Ltd. of New Zealand to supply a new geothermal power plant that will be constructed in the Kawerau Geothermal Field in the country. Norske Skog uses renewable energy to produce newsprint and the new project will mean a [...]
Magma shareholders approve Plutonic merger
In Canada, Magma Energy Corp. shareholders have approved all resolutions in connection with its proposed merger with Plutonic Power Corp. Shareholders voted at a special meeting held in late April. Magma will issue up to 156,202,213 common shares of the company which, if completed, will result in Magma acquiring all of the outstanding common shares [...]
Google continues down the renewables path
In Washington, Reuters is reporting that Google Inc. intends to make good on its goal of making renewable energy cheaper than coal for consumers. While geothermal remains on its list, the company currently is investing elsewhere. The company has said it would invest about $100 million in the world’s largest wind farm under construction in [...]
Newpark Resources acquires Aussie fluids business
In Texas, Newpark Resources, Inc. has closed the acquisition of Australian-based Rheochem PLC’s drilling fluids and engineering services business, effective April 21, 2011. Rheochem PLC, which has operations in Australia, New Zealand and India, provides drilling fluids and engineering services to the geothermal and oil and gas exploration industries. Newpark paid $25.5 million in cash [...]
