Geothermal Digest » International

AboitizPower geothermal assets ruled compliant

admin — Sun, 25 Jul 2010 16:10:38 +0000

In the Philippines, AP Renewables, Inc. and Hedcor Sibulan, Inc., both wholly owned subsidiaries of AboitizPower Corp., were recently granted Certificates of Compliance (COC) by the Energy Regulatory Commission (ERC). The COCs were granted after APRI’s ten-unit geothermal facilities in Laguna and Batangas and Hedcor’s Hydropower Plant B in Davao del Sur were found to be compliant with the ERC’s required environmental, technical, and financial standards. The latter was also found to be compliant with the technical design and operational criteria of the Philippine Grid and Distribution Code (PGDC). The plants have an aggregate installed capacity of 440 MW.

Bjork protesting Magma acquisition of HS Orka

admin — Sun, 25 Jul 2010 15:58:47 +0000

In Iceland, Bjork is heading a campaign protesting against the Icelandic Government’s decision to allow Canada’s Magma Energy to invest further in the island’s geothermal power company HS Orka. The singer told the Financial Times said, “Most people feel this is something the nation should keep … this deal smells like the leftovers from the corruption that brought us the bank crash.” She and fellow activists have produced a national petition to try and block a deal that would leave Magma with 98.5% of the Iceland’s biggest energy company.

South Asia universities to cooperate on geothermal energy

admin — Sun, 25 Jul 2010 15:54:01 +0000

In Indonesia, Gadjah Mada University has agreed to cooperate with New Zealand’s University of Auckland to develop geothermal energy sources. Geothermal New Zealand Science (GNS), a research and education institution, will also be involved. Indonesia has turned to New Zealand to develop its geothermal resources because of the country’s advanced technology.

EDC doubles its profit pleasure

admin — Sun, 25 Jul 2010 00:34:05 +0000

In the Philippines, Energy Development Corp. (EDC) saw its core income for the first half of 2010 rise 113.7% to $124 million, up from $58 million for the first half of 2009. This was despite losing $5.6 million at the 305-MW Tongonan 1 and Palinpinon power plants operated by its subsidiary, Green Core Geothermal, Inc. The 106 MW Mindanao geothermal plants increased earnings to $9.4 million from $7.4 million after build-operate-transfer fees were eliminated in June last year.

ANZ Philippines signs EDC for $175 million

admin — Sun, 18 Jul 2010 16:31:18 +0000

In the Philippines, Energy Development Corp, the country’s largest producer of geothermal energy, has signed a $175 million loan facility with the Australia and New Zealand Banking Group (ANZ). EDC said that the three-year loan was for corporate funding purposes, including the repayment of maturing loans. The signing comes off the back of a completed ANZ takeover of Royal Bank of Scotland (RBS) assets in six Asian countries. ANZ has since added 49 branches, 1.6 million customers and $6.5 billion in customer deposits as a result of the acquisition. The Philippines portion of the acquisition was completed in November 2009.

Indonesian government offering incentives for GT work

admin — Sun, 18 Jul 2010 16:27:00 +0000

In Indonesia, the government will provide incentives in the form of free import duty and value added tax for companies managing geothermal energy. The taxes had been applied to goods and tools shipped in for use in the country. The government will also increase the subsidy on geothermal energy starting next year, which is expected to decrease electricity price. With this, the price of geothermal energy bought by the government will be $0.097 kWh.

GT project gets started at The Hague

admin — Sun, 18 Jul 2010 16:21:25 +0000

In the Netherlands, a collaboration between the city of The Hague, energy companies Eneco and E.ON Benelux and housing corporations Staedion, Vestia and Haag Wonen is underway, aimed at bring heat and hot water to some 4,000 homes and 20,000 square feet of office space. The project involves drilling a pair wells in front of a hospital in the city center. Dutch driller Huisman is using land rig LOC 400 for the project, which will spud injection and production wells to depths of 7,900 feet and 8,850 feet. The LOC 400 is equipped with emerging Casing While Drilling technology that is said to reduce the noise and environmental impact.

Geodynamics re-opens Jolokia 1 well

admin — Sat, 17 Jul 2010 23:57:21 +0000

In Australia, Geodynamics Ltd has begun operations at Jolokia 1 to complete the well. The plug sealing the well bore has been removed and well checking is in progress. Geodynamics is the operator of the Innamincka ‘Deeps’ Joint Venture in the Cooper Basin, in partnership with Origin Energy. The JV is getting set to run 7 inch completion casing into the well, after which a hydraulic fracture stimulation program will start. The fracturing is aimed at creating an underground heat exchanger at Jolokia.

Aussie, Turkish companies agree to build in Indonesia

admin — Sun, 11 Jul 2010 19:51:47 +0000

In Australia, Greenearth Energy said that PT. Geo Power Indonesia has signed a non binding Memorandum of Understanding with the Cengiz Holding of Turkey to develop a site on the Indonesian island of Java for the production of geothermal power. Greenearth Energy’s 100% wholly owned subsidiary Greenearth Power Pty Ltd has a 40% interest in PT. Geo Power Indonesia. Cengiz Holding has a successful track record in building and operating coal, natural gas and hydroelectric power generation infrastructure. The company will complete due diligence over the next 90 days before moving to a formal agreement.

Kenya gets big World Bank energy credit line

admin — Sun, 11 Jul 2010 19:44:49 +0000

In Kenya, the Kenya Electricity Expansion Project has received $320 million from the World Bank to continue the development of it energy resources. The bulk of the credit line – $120 million – will go to bulking up the geothermal power stations at Olkaria, while the remainder will be used to enhance connectivity and refurbish older power plants to enhance efficiency. Two other credit lines have $64 million for construction of transmission lines and $33 million for enhancing the rural electrification program. Geothermal power generation is to be ramped up from 198 MW to 280 MW.