All Entries in the "Finance" Category
Ram, lenders amend loan agreement
In Nevada, Ram Power, Corp. has resolved certain non-compliance issues related to a $50 million term loan credit facility with a trio of lenders. Sprott Resource Lending Partnership, Exploration Capital Partners 2008 Limited Partnership and Newberry International Holdings Ltd. and the company have amended the credit facility to adjust, among other things, the use of [...]
USG grants stock options
In Idaho, U.S. Geothermal Inc. has granted options in accordance with its Stock Incentive Plan to directors, employees and consultants to acquire 2,590,000 shares in capital of the company. They are exercisable at a price of $0.83 per share for 5 years expiring June 3, 2016. The options will vest subject to the company’s Stock [...]
Nobao drops a second IPO plan
In New York, Nobao Renewable Energy Holdings Ltd. withdrew its regulatory filings for an initial public offering for the second time, presumably because of general market conditions. The company, which builds geo-exchange systems in China, filed to offer up to $300 million in American depositary shares earlier in May but later reduced those terms. The [...]
NGP increases revenue, posts $1.4 million loss for the quarter
In Canada, Nevada Geothermal Power Inc. reported a gross margin of $3.6 million and a net loss of $1.4 million for the quarter ended March 31. Power production for the quarter averaged 37 MW net and resulted in revenue of $6.3 million from operations. This was a 9% increase over the previous quarter ended December [...]
Magma nets $9 million for the third quarter
In Canada, Magma Energy Corp., which is soon to be known as Alterra Power Corp., reported third quarter 2011 revenue of $18.7 million and net income of $9.0 million. The company also said that the merger with Plutonic Power Corp. and the name change are effective May 13, which adds hydro, wind and potentially solar [...]
Ormat reports 1st quarter loss
In Nevada, Ormat Technologies reported a first quarter 2011 net loss of $9.0 million, or $0.20 per share, compared to net income of $1.8 million, or $0.04 per share, for the same period a year ago. The decrease was primarily due to the North Brawley power plant, which had a pre-tax loss of approximately $10.3 [...]
Calpine Corp. reports steep first quarter loss
In Texas, Calpine Corp. reported first quarter 2011 net loss of $297 million, or $0.61 per diluted share, compared to a net loss of $47 million, or $0.10 per diluted share, in the 2010 period. Losses included $109 million in interest payments related to legacy LIBOR hedges. On the plus side, the company began [...]
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 [...]
Free Energy adjusts terms for Swan Hills project
In Canada, Free Energy Power Corp. has entered into an amending agreement with the Province of Alberta to become a co-recipient of the $2.6 million dollar grant with Borealis Geothermal Inc. for the Swan Hills Heat Recovery Project. Further, the Government of Alberta has approved the change in scope and reduction in capital cost of [...]
Capricorn disburses loan to Caldera
In Canada, Capricorn Business Acquisitions Inc. says that with the approval from the TSX Venture Exchange, it has disbursed a secured interest bearing loan in the principal amount of $225,000 to Caldera Geothermal. The loan is secured by a first charge against the shares of Geothermal Technical Partners Inc., Caldera’s wholly owned operating subsidiary, which [...]
