All Entries in the "Finance" Category
Ram Power gets debt financing for Nicaragua project
In Nevada, Ram Power, Corp. said that it had closed $160 million in debt financing for the Phase II expansion of the San Jacinto-Tizate geothermal power project in Nicaragua. The financing takes the form of $140 million in senior construction and term loans and $20 million in subordinated debt that is available for contingencies and [...]
Ormat product segment dip reduces 3Q results
In Nevada, RENO, Ormat Technologies, Inc. announced financial results for the third quarter 2010, ended September 30, which were driven by a product segment revenue dip to $18.1 million from $51.1 million in the same period in 2009. This was actually in line with the company’s expectations since last year’s levels were unusual high. Total [...]
Calpine reports strong third quarter
In Texas, Calpine Corp. reported third quarter 2010 adjusted earnings of $663 million, up $77 million, or 13%, over the third quarter of 2009. The company also raised its cash flow by $57 million. Net income dropped 9% to $217 million, or $0.45 per diluted share. Calpine said it produced 28.2 million MWh of power [...]
Reservoir Capital raises placement offering
In Canada, Reservoir Capital Corp. says it is increasing the number of units offered in its non-brokered private placement financing from 3,300,000 units to 5,000,000 units. The offering, originally announced October 15, is now aiming to raise gross proceeds of $3,000,000. The proceeds of the offering will be used by Reservoir to support the Feasibility [...]
Reservoir to use private placement to raise $1.98 million
In Canada, Reservoir Capital Corp. says it is arranging a non-brokered private placement financing of $1,980,000 through the issuance of 3,300,000 units at $0.60 per unit. Each unit will include one common share and one non-transferable, common share purchase warrant, which will be valid for two years. The proceeds will be used to support feasibility [...]
Raser gets Lightning Dock financing
In Utah, Raser Technologies, Inc. and wholly owned subsidiary Lightning Dock Geothermal HI-01, LLC have signed an agreement with Evergreen-FE Lightning Dock, LLC to fund the development of the Lightning Dock Geothermal Project in Animas County, New Mexico. Under the agreement, that Evergreen-FE will invest $15.3 million in LDG to finance the development of the [...]
Production started, but losses continue for NGP
In Canada, Nevada Geothermal Power Inc. reported a net loss of $18.0 million for the year ending June 30th. This was over three times the company’s 2009 net loss of $5.1 million. NGP only began producing power in October of 2009, with the start-up of the Faulkner 1 power plant. Also during the year, the [...]
Ormat gets $108 M cash grant for North Brawley
In Nevada, Ormat Technologies, Inc. has received $108.2 million for specified energy property in lieu of tax/credits relating to its North Brawley geothermal power plant under Section 1603, Division B of the American Recovery and Reinvestment Act of 2009. The Section 1603 program lets qualifying renewable power projects eligible for either the federal production tax [...]
U.S. Geothermal grants stock options, restricted shares
In Idaha, U.S. Geothermal Inc. has granted options as a result of its 2009 Stock Incentive Plan to directors, employees and consultants to acquire 1,300,000 shares in capital of the company. The options can be exercised at $0.86 per share five years expiring September 10, 2015. The company also awarded 705,000 restricted shares to directors [...]
Imperial Capital likes USG stocks
In New York, Imperial Capital initiated coverage on U.S. Geothermal, giving them an Outperform rating. An analyst for Imperial said, “We expect the shares to begin to appreciate as the company executes on milestones that allow it to draw upon financing for projects with attractive economics and low confirmation risk. While we think the near-term [...]
