News
Oct 14, 2009Sierra Geothermal Power listed as one of Canada’s Top Geothermal Players
CanGEA member, Sierra Geothermal Power, makes the list of the companies having beat overall stock market indices this year on Canadian Stock Indices.
An explorer and developer of geothermal power, Sierra Geothermal Power Corp.‘s market value increased 185% to $23 million.
About Sierra Geothermal Power Corp.
Sierra Geothermal Power Corp. (SGP) is a Vancouver-based renewable energy company focused on the exploration and development of clean, sustainable geothermal power. It is listed on the TSX Venture exchange under the symbol SRA. With over 365km2 (90,000 acres) of geothermal properties in Nevada and California, SGP’s projects have a combined total estimated capacity of 500MW. SGP intends to finance development of its portfolio of projects by utilizing a combination of corporate equity, joint venture partnerships and project debt, with the support of US government grants and loan guarantees.
http://www.sierrageopower.com/
To read this article click here.
Oct 11, 2009
CanGEA Says Goodbye to Gord
Gordon Foo, CanGEA’s Executive Assistant, has completed his internship with CanGEA. We would like to thank him for his contributions over the past 9 months, as CanGEA would not have done as well without his efforts. Drew has taken over responsibilities as Membership Coordinator, and he can be reached at .(JavaScript must be enabled to view this email address).
Best of luck to Gord in his future endeavours!
Oct 10, 2009
Borealis’ Dan Yang on Geothermal Reporting and Reserves Committee
The Geothermal Reporting and Reserves Committee (the Committee), sponsored by the Canadian Geothermal Energy Association (CanGEA), was established in December 2008 to develop a code for public reporting of geothermal resources and reserves. The code was developed for the overall industry and will serve to increase investor confidence and consistency of public reporting within the industry.
CanGEA’s sister organization, AGEA (Australian Geothermal Energy Association) recently collaborated with the Australian Geothermal Energy Group to jointly produce a methodology for estimation, quantification of geothermal resources and reserves. The resulting document, The Geothermal Reporting Code (2008 Edition) was the world’s first Code for public reporting of geothermal data. Key elements of the Australian Code have been adopted and/or formed the basis of the Canadian Code.
The Canadian Code (currently in its’ initial draft) will provide a basis for transparency, consistency and confidence in public reporting of geothermal information with the following primary objectives:
1. Provide a reporting basis that is satisfactory to investors, shareholders and capital markets such as the Canadian Securities Exchanges, in a similar manner that existing Canadian Codes provide for reporting of mineral and petroleum resources (National Instruments 43- 101 and 51-101, respectively).
2. Be applicable to geothermal plays in both Canada and internationally since the Canadian Securities Markets are utilized for the exploration and development of both local and international geothermal plays for companies based in Canada and other jurisdictions.
Although the Draft Code is a work in progress and will stay in draft form during its initial implementation, Dr. Daniel Yang & Borealis Geopower are pleased to be part of such visionary project for geothermal development in Canada and internationally. A special thanks goes out to Committee Chair Lee Deibert with Meridian Environmental and the rest of the committee members, including Subir Sanyal (Geothermex Inc.), Alison Thompson (CanGEA), Ian McDonald (Nexen Inc.), John McIlveen (Jacob & Company Securities Inc.) for all their time and energies to make this project a reality.
To view the article from the source click here.
Oct 09, 2009
CanGEA Members named “Best in Show” at GRC Conference!
CanGEA members, Islandsbanki and Thermasource, won “Best in Show” for their booths at the GEA (Geothermal Energy Association) trade-show in Reno this week. Congratulations!
Oct 09, 2009
GRC Geothermal Conference in Reno Last Week - Big Success!
The US Geothermal industry held its annual conference in Reno earlier this week and drew a record number of participants. With the back-drop of over $300 million in successful equity financings in geothermal in the past six months, the general sentiment was very positive on substantial growth for the sector going forward.
Alison Thompson, Chair and Executive Director of CanGEA, presented three times throughout the conference, once to a crowd of over 2000 people! She was given immediate positive feedback and CanGEA is very proud of her performance. We hope to attract more attention from the government in order to receive the go-ahead to start geothermal projects in Canada.
CanGEA hopes to gain enough funding so we can develop a Canadian Geothermal Technology Roadmap which will identify and describe in detail the complete development needs of the geothermal industry. Geothermal is an important renewable, base-load resource that should be receiving more of Canada’s attention. Once we can get Canada on the geothermal map, our greenhouse gas emissions will decrease, and our goals to combat global warming can be achieved.
Oct 08, 2009
Ormat’s Mammoth Pacific Geothermal Energy Plant Recieves Environmental Award
Mammoth Pacific geothermal power plant, operated and partially-owned by Ormat Technologies, Inc., received the California Department of Conservation’s Outstanding Lease Maintenance Award for its ongoing commitment to environmental safety and outstanding lease maintenance.
“The Department of Conservation recognizes those operators that continuously maintain their facilities in an environmentally sound and responsible way,” said Jack Truschel, Geothermal District Engineer at the Division of Oil, Gas, & Geothermal Resources. “It is therefore my pleasure to present Mammoth Pacific with its second consecutive outstanding lease award.”
“This environmental and safety award can be attributed to our employees at Mammoth Pacific, who work diligently to meet the highest standards of safety while also protecting the environment,” said Lucien Bronicki, Chairman and CTO of Ormat. “Ormat has always taken health, safety and environmental protection very seriously. We are proud that Mammoth Pacific, and the team led by plant manager Larry Nickerson, continues to exemplify quality and environmental consciousness in geothermal power production.”
Located in Mammoth Lakes, California, Mammoth Pacific, LP generates 29 MW of renewable, environmentally sound electricity sufficient for the needs of more than 20,000 homes. The facility, a partnership between Ormat and Constellation Energy, helps reduce our nation’s dependence on fossil fuels and play an important role in the local economy.
Ormat has constructed over 1,200 MW of geothermal and Recovered Energy Generation (REG) power projects worldwide and owns and operates over 515 MW of geothermal and REG plants in the United States.
About Ormat Technologies
Ormat Technologies, Inc. is the only vertically-integrated company primarily engaged in the geothermal and recovered energy power business. The Company designs, develops, owns and operates geothermal and recovered energy-based power plants around the world. Additionally, the Company designs, manufactures and sells geothermal and recovered energy power units and other power-generating equipment, and provides related services. The Company has more than four decades of experience in the development of environmentally-sound power, primarily in geothermal and recovered-energy generation. Ormat products and systems are covered by 75 U.S. patents. Ormat has built over 1,200 MW of plants approximately half for its own account and half as supplies to utilities and developers. Ormat current generating portfolio includes the following geothermal and recovered energy-based power plants: in the United States – Brady, Desert Peak 2, Heber, Mammoth, Ormesa, Puna, Steamboat, OREG 1, OREG 2 and Peetz; in Guatemala – Zunil and Amatitlan; in Kenya – Olkaria; in Nicaragua – Momotombo and in New Zealand – GDL
To view this article click here.
Oct 08, 2009
Geysir Green Energy sells its shares in Western GeoPower
Geysir Green Energy has divested its holding in CanGEA member, Western GeoPower Corp. and sold its shares for $0.18 per share for an aggregate gross of CAD$8,520,000.
In a release earlier this week, Icelandic Geysir Green Energy tells that it “has divested its holding in Western GeoPower Corp. (TSX VENTURE:WGP).
In the transaction, Geysir Green Energy divested its entire holding, a total of 16.0 percent stake in Western GeoPower Corp of 47,333,334 shares at a price of CAD$0.18 per share for aggregate gross of CAD$8,520,000. The proceeds from the sale of the shares will be used to develop Geysir’s projects in other markets and debt repayment of the Geysir organization. The sale of the share is a part of the company’s objective to focus its efforts on increasing installed capacity in operating geothermal power and heating plants in Iceland and China.”
To read from the source click here.
Oct 07, 2009
Churchill County: A hot spot for geothermal
A wealth of geothermal resources and ready power transmission lines makes Churchill County one of the state’s hottest areas for geothermal power development - and provides a financial windfall to the county as well.
Several companies already have established geothermal resources some 60 miles east of Carson City in Churchill County:
- Ormat Technologies operates the Brady Complex and Desert Peak plants, which generate about 22 megawatts.
- Magma Energy is working on an $18.2 million plan to double the capacity of its 11-megawatt Soda Lake operation to 23 megawatts. Completion is targeted for early 2010.
Ormat plans an additional facility in the Salt Wells area. The Carson Lake project is estimated between 18 and 30 megawatts and could be online by 2011, says Paul Thomsen, director for policy and business development for Ormat Technologies.
“Geothermal starts in the last few years have added millions of dollar to our economy, added hundreds of jobs and kept Churchill County in the black,” says County Manager Brad Goetsch.
Goetsch says the county uses less than 10 percent of the geothermal power it generates and has tapped less than 5 percent of the region’s potential. The geothermal industry expects to spend close to $2 billion in exploration in Churchill County in next five to six years, Goetsch says.
“We are talking in the millions to tens of millions of dollars coming in tax revenues if geothermal continues to develop,” he says. “Geothermal has a bright future, and renewables are truly a way to diversify and replace what’s been lost in construction and gaming.”
To read the full article click here.
Oct 07, 2009US Geothermal Capacity to Increase Threefold as Industry Heats Up
The Geothermal Energy Association released their US Geothermal Power Production and Development Update for September 2009.
The update reports how the US has increased its geothermal productivity substantially since 2006, where geothermal capacity was reported at 2,850MW. As of September, the US has now reached a geothermal capacity of 3,152MW with a further 6,442.9MW of new geothermal capacity currently under development. Unconfirmed projects, which may be developed in the next few years, could increase that new capacity to 7,109.9MW.
Question: How much geothermal development has Canada achieved?Answer: 0MW!!!
Please contact your local government official if you are disgraced by this number. CanGEA is doing all we can to help initiate geothermal (clean, renewable, BASE-LOAD power) development in Canada.
Oct 05, 2009DOE to Buy Waste Heat Geothermal Unit from Ormat Technologies
Every barrel of oil extracted in the US also produces TEN BARRELS of hot fluids in addition to the oil.
CanGEA member, Ormat Technologies, will be extracting wasted heat from oil extractions for the DOE which will provide geothermal energy to power their equipment.
Rather than discard that “geothermal” resource created by the process of oil extraction, the DOE is going to show the traditional energy industry how to tap into those waste fluids to power equipment at the site.The DOE’s Geothermal Technologies Program at the Office of Energy Efficiency and Renewable Energy (EERE) will collaborate with Office of Fossil Energy to make low temperature geothermal power from waste drilling fluids using a waste heat geothermal unit.
The electricity produced would be used to power field production equipment, which would offset purchased electricity. Because this would reduce the fossil energy needed to extract each barrel of oil, this would reduce the pollution costs the traditional oil industry would be liable for under new legislation pending.
If the Clean Energy Jobs & American Power Act passes, there will be an incentive to reduce carbon pollution.
They will use co-produced fluids from oilfield operations at the Rocky Mountain Oilfield Testing Center. The testing center has a producing oilfield, and long-standing expertize with fossil energy, so it provides an opportunity for the Fossil Energy Dept at the DOE to make a contribution to emerging energy fields.
The system will turn an unavoidable byproduct into a new energy resource for the oil industry; one that is relatively “renewable.” It is not a natural source because it would stop once oil extraction stopped. It is created by the process of oil extraction itself. Yet it creates no new carbon emissions, so it effectively lowers the carbon cost of each barrel of extracted oil.
Now that we are down to literally scraping the bottom of the barrel, the CO2 emissions from squeezing oil out of rocks are almost twice as high as for even regular oil extraction. Waste heat reuse for electricity is one way to get CO2 emissions down in the traditional fossil energy industry.
The results of this carbon mitigation effort will be made available to any interested parties on the DOE website.
News Source: Cleantechnica.com
Written by Susan Kraemer
Original Posting
