All Entries in the "Company News" Category
Magma awarded Peru concessions
In Canada, Magma Energy Corp. said it has been awarded two geothermal exploration concessions in Peru, known as Crucero and Loriscota. The concessions cover 90,000 acres of land in southern Peru. Geologic indicators include young volcanic rock underlying the area as well as numerous hot springs. Magma will conduct geological, geochemical, and geophysical work to [...]
Mustang refreshes website, starts Peru exploration
In Nevada, Mustang Geothermal Corp. has launched a redesigned corporate website and says it has started exploration activities on the company’s Banos de Inca project in southern Peru. The 2,224 acre property is 440 miles southwest of the capital Lima and in the immediate vicinity of a regional 150 kV power line. Indications of potentially [...]
Ormat to expand Kenyan GT complex
In Nevada, Ormat Technologies, Inc. said that its subsidiary, OrPower 4, Inc., has signed a 20-year power purchase agreement (PPA) amendment with Kenya Power and Lighting Company Ltd (KPLC). The PPA marks the start of a 36 MW expansion of the existing 48 MW Olkaria III power complex and covers the purchase of the added [...]
Mustang replaces top officer
In Nevada, Mustang Geothermal Corp. announced that Gerald Aberle is resigning as Director to pursue other business opportunities and that Kevin J. Pikero has been appointed CFO, Principal Accounting Officer, and Director. Pikero is a practicing CPA in Reno with 33 years’ experience in the financial and accounting business. Pikero is a graduate of Bentley [...]
Ram gets revised power purchase agreement
In Nevada, Ram Power Corp. says an amended power purchase agreement has been approved by the Northern California Power Agency. The new agreement adjusts the expected capacity of the plant being built at the Geysers in California to 26 MW. It also revises the purchase price per megawatt and extends the term of the agreement [...]
Ram adds to board of directors
In Nevada, Ram Power, Corp. said that Jim Lawless has joined its Board of Directors effective Monday, March 7, 2011. The appointment fills a vacancy on the board. He brings 30 years of experience in geology and the geothermal industry, including serving as Geothermal Resources Practice Leader for Sinclair Knight Merz Pty Ltd. Lawless holds [...]
Ormat signs PPA; picks up project award
In Nevada, Ormat Technologies, Inc. signed a 20-year power purchase agreement (PPA) with NV Energy for the purchase 30 MW of energy generated from the Dixie Meadows geothermal project. Ormat is currently in the exploration phase of the Dixie Meadows development project, which is located in Churchill County. The PPA has been submitted for approval [...]
Magma plus Plutonic merger equals Alterra Power
In Canada, Magma Energy Corp. and Plutonic Power Corp. have agreed to merge, creating Alterra Power Corp. that together hold a market capitalization of about $575 million. The new entity will have two operating geothermal plants in Iceland and one in Nevada, plus additional geothermal assets in Chile, Peru, Nevada and Iceland. The company also [...]
Raser looking for merger partner or buyer
In Utah, Raser Technologies, Inc. says is looking to sell or merge the company. It made the announcement because of the company’s current cash resources, nondiscretionary expenses, debt and near term debt service obligations. In order to maintain its business as a going concern, it is looking for strategic alternatives including, but not limited to, [...]
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 [...]
