All Entries in the "Producer News" Category
Magma goes forward with HS Orka shares addition
In Iceland, Magma Energy Corp. subsidiary, Magma Energy Sweden A.B. closed the final portion of a previously announced deal to acquire additional shares of Iceland’s HS Orka hf. Magma Sweden now holds a 98.53% interest in the geothermal company. In the latest transaction, Magma Sweden acquired 14.32% of HS Orka’s outstanding shares from [...]
Sierra takeover completed
In Canada, Sierra Geothermal Power Corp. and Ram Power, Corp. say that Ram has now acquired all of the issued and outstanding shares of Sierra. They were exchanged for shares of Ram Power and all current holders of Sierra options, warrants and unit warrants are now entitled to receive Ram Power securities. The deal got [...]
NGP settles with Ormat over plant shutdown
In Canada, Nevada Geothermal Power Inc. reported that NGP Blue Mountain I LLC, the owner of the 49.5 MW Faulkner 1 geothermal power plant and Ormat Nevada Inc. have settled all disputes that have arisen under the EPC (Engineering, Procurement and Construction) contract as a result of the facility shutdown between January 16 and February [...]
Magma Energy closes on another 38% of HS Orka
In Canada, despite opposition from some quarters in Iceland, Magma Energy Corp. subsidiary Magma Energy Sweden A.B. has managed to close on another portion of a previously announced agreement to acquire further shares of HS Orka hf. Magma Sweden added 38.03% of outstanding shares belonging to Geysir Green Energy ehf and now holds an 84.21% [...]
Ormat goes overseas to issue $142 million in bonds
In Nevada, Ormat Technologies, Inc. has entered into a trust instrument governing the issuance of, and accepted subscriptions for, approximately $142 million in aggregate principal amount, of senior unsecured bonds issued outside the U.S. The bonds have not been registered under the Securities Act and thus may not be offered or sold in the U.S. [...]
Ormat to take over last stake in Mammoth complex
In Nevada, Ormat Technologies, Inc. subsidiary Ormat Nevada Inc. has signed an agreement to acquire Constellation Energy’s 50% stake in the partnership that owns the geothermal power plants at the Mammoth complex, after which the company will become the sole owner of the land, power plants, and associated equipment. The $72.5 million purchase price also [...]
GeoGlobal Energy adds three to tech team
In Maryland, geothermal investment and development company GeoGlobal Energy LLC said it had added three respected geothermal professionals to its technical team. Bob Swanson joined the company as drilling manager, Jim Stimac as senior geologist, and Paula Blaydes as director of environmental permitting & governmental affairs. The three are to be based in GGE’s Santa [...]
BC court backs first step in Sierra plan
In Canada, the Supreme Court of British Columbia has issued an interim order authorizing Sierra Geothermal Power Corp. to call a special meeting of its shareholders to consider a special resolution approving the proposed plan of arrangement with Ram Power Corp., previously announced by press release on July 8, 2010. The plan would have Ram [...]
Magma aiming at $40 million for more HS Orka
In Canada, Magma Energy Corp. has entered into an underwriting agreement and filed an amended and restated preliminary prospectus with the securities regulatory authorities with respect to the issuance of 35,714,286 common shares at a price of $1.12 per share, for gross proceeds of $40,000,000. Closing is scheduled to take place on July 27, 2010. [...]
Sierra, Ram finalize acquisition
In Canada, Sierra Geothermal Power Corp. and Ram Power Corp. announced that they have entered into a definitive arrangement agreement that will let Ram acquire all the issued and outstanding common shares of Sierra. Under the terms, each common share of Sierra will be exchanged for 0.0833333 of a common share of Ram, and all [...]
