All Entries in the "Producer News" Category
Ormat adding David Wagener to board, sets annual meeting
In Nevada, Ormat Technologies, Inc. has appointed David Wagener of Wagener Capital Management as a new independent member of the board of directors of the company. Wagener is to begin serving on April 1, 2010 to fill the vacancy resulting from the resignation of Jacob J. Worenklein from the board, effective March 31. Wagener will [...]
NGP restarts Faulkner 1, updates drilling projects
In Canada, Nevada Geothermal Power Inc. has re-started the Faulkner 1 power plant. A temporary solution allowed two of the three generators to be restarted at reduced output levels. Engineering considerations limited start-up output to 13 net MW. The plant shut down in mid-January due to cable system failure. Permanent repairs remain on schedule and [...]
Fire erupts at Soda Lake plant
In Nevada, a fire erupted early Monday at the Magma Energy’s Soda Lake Amor No. 4 geothermal plant. A county fire official said a malfunction in one of the generating units caused the fire and that no one was injured. A cause for the blaze was not immediately known, but the plant was said to [...]
Per agreement with dissident shareholder, Sierra adds two new directors
In Canada, Sierra Geothermal Power Corp. has made good on an agreement reached in January and has increased the number of directors from six to eight, adding one representative each from Exploration Capital and Skyberry Holdings. Michael Atkinson represents Exploration Capital and Daryl S. Clark, Skyberry Holdings. Atkinson currently acts as a director of Kobex [...]
Ormat to raise Olkaria III plant capacity
In Neveda, the project subsidiary of Ormat Technologies signed a letter of intent with Kenya Power & Lighting Co. Ltd (KPLC) for further expansion of the Olkaria III power plant in Naivasha, Kenya by up to 52 MW within the framework of the existing power purchase agreement. Output from the plant would rise from 48 [...]
NV Energy signs PPA with Ram subsidiary
In Nevada, NV Energy has signed a 20-year power purchase agreement with Clayton Valley 1, LLC, a subsidiary of Ram Power Corp., for energy that will be produced by the 32 MW Clayton Valley Geothermal Project, which is expected to be generating electricity by 2014. The PPA is subject to approval by the Public Utilities [...]
Magma makes management changes, opens Iceland office
In Canada, Magma Energy Corp. announced a number of management changes and additions. The company promoted Dr. Catherine Hickson to Vice President, Exploration and Chief Geologist. She will head all of the company’s international exploration activities. Andrea Zaradic was promoted to Vice President, Operations and Development and will lead all of Magma’s geothermal development projects, [...]
Faulkner 1 to re-start during repairs
In Canada, Nevada Geothermal Power Inc. said that while repairs are completed to their Faulkner 1 power plant, the plant will be re-started in mid-February at a reduced output using two of the three energy converters. The plant automatically shut down due to heat build up and cable failure in the buried power cable system. [...]
Raser taps an additional $19 million from Fletcher
In Utah, Raser Technologies, Inc. has sold $5 million of convertible preferred stock plus another $14 million in certain investment rights to Fletcher International, Ltd. The financing is part of a broader strategic relationship between the two companies. The preferred shares can be converted to common stock at a price of $5 per share and [...]
Denham Capital increases Vulcan investment
In Oregon, Vulcan Power Company announced that an affiliate of Denham Capital has invested $108 million in preferred and common stock of Vulcan. This is the second equity investment in Vulcan by the affiliate and brings its total investment in Vulcan to $166 million. The new investment will allow Vulcan to continue ongoing development of [...]
