News
Feb 03, 2012Banff one of the 12 Hot Springs Worth Traveling For
On February 1, 2012, Fox News published an article called "12 Hot Springs Worth Traveling For". Alberta's very own Banff Upper Hot Spring in Banff National Park made it onto the list!
Banff is Canada's premier demonstration of geothermal energy in practice. CanGEA will be releasing our Projects Overview shortly and Banff is mentioned in this as well.
To see the article, please visit the Fox News website.
Jan 09, 2012
Canadian Geothermal Power & Direct Use of Heat Technology Roadmap and Implementation Plan - TIS
The Canadian Geothermal Energy Association (CanGEA), Natural Resources Canada, Alberta Innovates – Technology Futures and Petroleum Technology Alliance Canada (PTAC) invite you or a representative of your organization to attend a Technology Information Session (TIS). The objective of the session is to introduce the Canadian Geothermal Power & Direct Use of Heat Technology Roadmap and Implementation Plan.
BACKGROUND
CanGEA is the collective voice of Canada’s geothermal industry (http://www.cangea.ca). As a non-profit industry association, we represent the interests of our member companies with the primary goal of unlocking the country’s tremendous geothermal energy potential. Geothermal energy can provide competitively priced, renewable, base-load energy to Canadian and export markets.
Canada boasts abundant world class geothermal resources (i.e. Canadian Cordillera in BC, YT, NT; more than 140 hot springs in Western Canada; Hot Sedimentary Aquifers (HSA) that can be used for geothermal co-produced fluids along with oil & gas production in BC, YT, NT, AB, SK, NU, ON, QC, NL, NS, NB) as well as the prospect of using advanced technologies such as Enhanced Geothermal Systems (EGS) in unconventional reservoirs. Heating and small power production opportunities are of further interest in northern communities.
Despite the abundance of widespread geothermal resources, an industry has yet to develop in Canada due, in part, to a lack of understanding of the resource potential and the technologies available to harness the resources. As geothermal energy features the lowest environmental footprint of any power supply, has no to low emissions, is widely considered in geothermal producer countries to be cost competitive and often the lowest cost alternative, it is the belief that geothermal resources can play a significant role in Canada’s future energy needs and export opportunities. To unlock this potential, a comprehensive geothermal energy strategy is needed.
In 2011, the Geological Survey of Canada released a report on the “Geothermal Energy Resource Potential of Canada” and stated that geothermal energy can provide a million times that of Canada’s current electric energy needs. CanGEA asserts that at least 5,000 MW (43,000 GWh/yr) can be economically developed by 2025 yielding 27 million tonnes of CO2/yr avoided, $25 billion in capital spend, 9,000 permanent green jobs created and an additional 30,000 person years of manufacturing and construction jobs.
Other recent efforts to assist the industry by CanGEA and governments have included:
- Creation of a geothermal reporting code
- National geothermal resource maps
- Policy analysis
- Industry overview
- Supply chain
The next step is to launch the Canadian Geothermal Power & Direct Use of Heat Technology Roadmap. The final step will be the creation of an Implementation Plan and subsequent Demonstration projects.
It is widely regarded that the transfer of subsurface oil and gas technologies (exploration, reservoir maintenance, drilling, completions, high temperature pumps and monitoring systems) is the key to making the use of geothermal energy even more cost competitive as well as increasing the number of economic resources (reserves). Operational synergies via co-produced fluids present a special opportunity for oil & gas producers in hot sedimentary aquifers (Horn River Basin, Mackenzie Basin, Sverdrup Basin, Foreland Basins, Mackenzie Corridor, Western Canadian Sedimentary Basin, Williston Basin, Michigan Basin, Cumberland Basin, and the Anticosti Basin). Process heating is also a possibility in the Oil Sands via EGS technology.
SCOPE OF INFORMATION SESSION
- Introduction to geothermal energy resources in Canada
- Applications and benefits of geothermal energy
- Call for Steering Committee members/sponsors for the Roadmap
- Natural Resources Canada is the lead sponsor
- Question and Answer session
WHO SHOULD ATTEND?
- Government, Academia, First Nations
- Energy Companies with an interest in Renewable Energy projects
- Subsurface Technology Providers and End Users
- Exploration, Reservoir Management, Drilling, Completions, Pumps, Monitoring, Etc.
- Turbine and Generator Manufacturers
- Utilities and Independent Power Producers
CONTACT
Environmental Research Coordinator and Web Site Administrator
PTAC
(403) 218-7707
Email: .(JavaScript must be enabled to view this email address)
Jan 08, 2012
CanGEA shortlisted for $10 million in funding by CCEMC
January 4, 2012
Climate Change and Emissions Management (CCEMC) Corporation announces shortlist for $10 million in funding
31 SMEs invited to submit full proposals for clean technology projects.
EDMONTON – The Climate Change and Emissions Management Corporation is inviting 31 small and medium-sized enterprises (SMEs) to submit full proposals for funding to support clean technology projects that reduce greenhouse gas emissions. A total of $10 million in funding is available.
The CCEMC invited expressions of interest from organizations with less than 250 employees in July and 85 proposals were received by the October 31 deadline. The 85 proposals represent a total funding request of about $35 million, and the projects have a combined value of more than $205 million.
The focus of this Expression of Interest is on SME product and market challenges that if resolved, could lead to significant greenhouse gas reductions. The maximum the CCEMC will contribute to projects responding is 50 per cent of eligible project costs, to a maximum of $500,000.
“The CCEMC knows that small and medium-sized organizations are strong innovators and we were pleased to see so many promising submissions,” said CCEMC Chair Eric Newell. “The fact that there are so many emission reduction projects in this sector demonstrates that the innovation community is focused on addressing Alberta’s greenhouse gas challenges.”
The submissions include proof-of-concept, research and development and small pilot scale initiatives.
The organizations that have been shortlisted are diverse and include cost-effective NetZero Ready home design, a pilot to capture carbon from ambient air and an online application to help people track and record activities to reduce environmental impacts and access energy rebates.
Recipients will be announced in late May.
To date the CCEMC has announced support for 27 projects to reduce greenhouse gas emissions, with a total combined project value of more than $630 million.
Since 2007, Alberta companies that annually produce more than 100,000 tonnes of greenhouse gas emissions are legally required to reduce their greenhouse gas intensity by 12 per cent. One compliance option is to pay into the Climate Change and Emissions Management Fund at $15/tonne.
The CCEMC is a not-for-profit organization whose mandate is to establish or participate in funding for initiatives that reduce greenhouse gas emissions and support adaptation. The CCEMC invests in discovery, development, and operational deployment of clean technologies
For more information or to arrange an interview contact:
Celia Sollows
Climate Change and Emissions Management Corporation
(780) 239-4150
ccemc.ca
Dec 17, 2011
DEEP Earth Energy Production Corp - Shareholder Update
December 16, 2011
DEEP Earth Energy Production Corp. – Shareholder Update
SASKATOON, SASKATCHEWAN – DEEP EARTH ENERGY PRODUCTION CORP. (“DEEP”, or the “Company”) is pleased to announce a non-brokered private placement - of up to $5,000,000.
The offering consists of up to CND$750,000 in flow-through shares and up to a maximum of CND$4,250,000 in non-flow-through units.
The pricing of the offering is CND$0.25 per flow-through share and CND$0.25 per non-flow-through unit. Units are comprised of one (1) non-flow-through common share and one (1) warrant to purchase one-half of one non-flow-through common. Two (2) warrants are required to purchase one (1) whole non-flow-through common share upon payment to the Corporation of the exercise price of CDN$0.35 per share for 18 months from date of issuance.
The Corporation plans to use the net proceeds of the Offering to complete an initial exploration test well, one development well on the Rafferty Project, reservoir engineering, possible reservoir enhancement and for general working capital purposes.
The flow-through Offering is expected to close on December 30th, 2011. The non-flow through is expected to close January 31st, 2012.
DEEP is now aligning itself to complete Phase 1 in the development of the Rafferty Geothermal Power Project, located northwest of Estevan Saskatchewan. Deep aims to be the first geothermal power producer in the province and was recently selected in SaskPower's 2011 Green Options Partners Program Lottery, securing an initial 5 MW power purchase agreement. Deep’s target resource is a 3000 metre deep (Deadwood and Winnipeg Formations), hot aquifer – a 150 metre thick zone that has been drilled and temperature tested from oil and gas exploration in Southeast Saskatchewan.
For more information or to obtain a subscription agreement, please contact:
Kirsten Y. Marcia, President & CEO
(306) 261-6979
.(JavaScript must be enabled to view this email address)
or
Al Zack, CFO
(306) 651-5192
.(JavaScript must be enabled to view this email address)
Oct 21, 2011
DEEP Earth Energy Production appoints Alison Thompson to its Board of Directors
DEEP Earth Energy Production Corp. is pleased to announce the appointment of Alison Thompson as a new director. With over 15 years of experience in project
management, business and technology development in the international energy sector, Ms. Thompson brings an impressive record of accomplishments in the evaluation of new technologies against the triple bottom-line criteria of economic, social and environmental benefits. She was instrumental in pioneering early-stage research on the potential to leverage high temperature geothermal resources in the Oil Sands to produce electricity, steam and heat while with a Suncor Energy led industry consortium. Additionally, she spearheaded joint government and industry research on low temperature geothermal resources for Oil Sands in collaboration with Nexen, Shell and the Alberta Energy Research Institute. She is the inaugural recipient of the Belle Mulligan Award for Leadership from the Canadian Investor Relations Institute as a result of her work with Magma Energy and the Canadian Geothermal Energy Association (CanGEA).
Ms. Thompson holds Bachelor and Master of Chemical Engineering degrees from McGill University, a Professional Engineering designation from APEGGA, a U.S. Engineer Intern designation, as well as a Master of Business Administration degree from Queen’s University. Ms. Thompson’s energy experience is diverse. She is currently the Chair and a Founder of CanGEA, an Officer of Alterra Power (formerly Magma Energy), which has one of the world’s largest geothermal portfolios, and is the Chair of Borealis GeoPower. She is an external evaluator for the BC Innovation Council, as well as for the Canada Foundation for Innovation. Ms. Thompson has served on the Board of Directors and was a member of the Finance and Audit Committee of Petroleum Technology Alliance Canada. Internationally, she has a seat on the Executive Committee of the International Energy Agency’s Geothermal Implementing Agreement and is the Geothermal Energy Forum Chair at the 20th World Petroleum Congress. She has served on the European Union’s Enhanced Geothermal Innovative Network for Europe’s Stakeholders Committee.
President and CEO Kirsten Marcia commented, "I am pleased to welcome Alison to DEEP; she brings a wealth of energy experience to our team with an outstanding international reputation in the geothermal sector. Her project management, technical abilities and professional history strengthens our board of directors as we develop Saskatchewan’s first geothermal power project.”
Sep 22, 2011
DEEP Earth Energy Production Secures Geothermal Rights Through Landsolutions
DEEP EARTH ENERGY PRODUCTION SECURES GEOTHERMAL RIGHTS THROUGH LANDSOLUTIONS
In a release “LandSolutions LP announces that it continues to expand its land services through a recent project associated with DEEP Earth Energy Production Corp. as it relates to geothermal energy production.
LandSolutions will be providing land expertise for a new geothermal project that DEEP plans to develop in southeast Saskatchewan over the next two to three years.
“The power generation potential is enormous and we are happy to be the company of choice providing our services to a leading-edge company such as DEEP,” Ron Vermeulen, president of LandSolutions, said in a release. This is the first project of its kind in Saskatchewan and one of only a few projects being developed in Canada of this size.
DEEP has entered into a memorandum of understanding with an intermediate oil and gas producer for exclusive rights to explore deep (i.e. Winnipeg and Deadwood formations) non oil-bearing hot brine aquifers in southeast Saskatchewan for potential geothermal resource development.”
Source: Company release by email
Sep 20, 2011
Ram Power Corp Announces San Jacinto Project Update
RENO, NV--(Marketwire - September 15, 2011) - Ram Power, Corp. (TSX: RPG) ("Ram Power" or the "Company"), a renewable energy company focused on the development, production and sale of electricity from geothermal energy, announced today the following San Jacinto Project and corporate finance updates.
SAN JACINTO PROJECT
Receipt of Funds under the Phase I and Phase II Credit Facilities
On August 10, 2011, the Company's subsidiaries, Polaris Energy Nicaragua, S.A. ("PENSA") and San Jacinto Power International Corporation, executed amendments to the Phase I and Phase II credit facilities, bringing the Company into compliance with the loan covenants in those facilities.
Given the successful production and injection drilling results as announced in August of 2011, the Company has satisfied the resource requirements and has full access to the $160 million available under the Phase II credit facility. The Company satisfied the conditions precedent to borrow under the Phase II credit facility, and received its initial draw on August 26, 2011 of $104 million with approximately $35 million (net of $3 million deposited into the Phase II major maintenance reserve account), being distributed to the Company and the remainder used to fund future project costs for the next four months and required contingency reserves.
Following the amendment to the Phase I credit facility, the Company now has access to the remaining $9 million available under the senior loan facility to fund a portion of the remaining budgeted costs of the Phase I expansion and an additional $8 million under the subordinated loan facility to fund contingencies for Phase I and Phase II. The amended facility now totals $85 million. In connection with the amendment, the Company funded an additional $9.3 million in equity for Phase I, which together with the remaining $9 million of the Phase I senior loan facility, is expected to be sufficient to complete Phase I. The remaining $17 million under the Phase I credit facility was disbursed to the Company on September 9, 2011.
Full Notice to Proceed to TIC International, Inc. for Phase II Expansion at San Jacinto-Tizate
Effective August 29, 2011, PENSA gave a full notice to proceed to TIC International, Inc. to begin work under the Procurement and Construction Contract for Phase II. The contract provides for the completion of the Phase II 36 MW expansion in December 2012, bringing the total output for the Phase I and Phase II expansions at the San Jacinto Project to 72 MW.
SJ 9-3 Acidization and Flow Test
A review of well drilling and testing results undertaken by Sinclair Knight Merz ("SKM") in February 2011 of well SJ 9-3 at the Company's San Jacinto Project indicated that the production potential of the well was likely restricted by reservoir formation damage during drilling. This finding led to the development of an acid stimulation program to improve the production of the well by removing some of the formation damage. Prior to commencing the acid stimulation program, GeothermEx Inc. ("GeothermEx"), the resource consultant for the lenders under the Phase II credit facility, certified that the well had an output potential of 41 t/h which equates to a power generation capacity of 5.3 MW (gross) at a design separation pressure of 5.11 barg.
The acid injection program was successfully completed on July 31, 2011 by Schlumberger under the direction of SKM geothermal specialists. Subsequent re-testing of the well confirms that the acid stimulation has successfully improved steam production, with a steam flow rate of 57 t/h which represents a 39% improvement in well production and equates to a power generation capacity of about 7.4 MW (gross) at a design separation pressure of 5.11 barg.
In addition to the estimated 2.1 MW increase in power potential, the acid treatment has significantly increased the well head pressure to more than 10 barg. The increased well head pressure provides a much greater operational margin when future reservoir pressure declines occur in response to field production. As of September 9, 2011, the well is undergoing a long-term flow test to enable re-certification of production capacity pursuant to GeothermEx's testing protocols.
Completion of Drilling of SJ 12-3
Well SJ 12-3 at the San Jacinto Project was completed on August 23, 2011 to a target depth of 7,841 ft. The Company conducted a short injectivity test which indicated deep permeability with an injectivity index of 16 tonnes/bar/hour. Currently, well SJ 12-3 is undergoing an extended heat up period, after which a long-term flow test will be performed in late September or early October 2011.
CORPORATE FINANCE
Restructuring of Bridge Facility
The Company has successfully negotiated amendments to the $50 million, term loan credit facility (the "Credit Facility") with Sprott Resource Lending Partnership, Exploration Capital Partners 2008 Limited Partnership and Newberry International Holdings Ltd. (collectively, the "Lenders"). The successful negotiations extend the maturity date of the Credit Facility, waive the non-compliance related to the delivery of post-closing collateral items by deadlines specified in the original agreement, and waive the non-compliance of Ram Power of its repayment obligation to the extent that equity distributions are made available to the Company from the proceeds of the San Jacinto phase II credit facility.
As a result of the negotiated amendments, the Lenders agreed to an extension of the maturity date from February 28, 2012 to September 30, 2013 for an upfront fee of 2.0 % of the outstanding loan amount of $50 million. The Lenders also agreed to waive immediate repayment of $35 million from the equity distributions made to the Company from the proceeds of the initial disbursement from the San Jacinto Phase II credit facility for an additional upfront fee of 2.25% of the outstanding loan amount and cancel 18,031,251 common share purchase warrants associated with the Credit Facility. The Company will pay the Lenders an additional fee of 1% of the amount outstanding under the Credit Facility every six months, (with the first payment due March 2012) if security over the Company's San Jacinto project near Leon, Nicaragua (the "San Jacinto Project") is not granted to the Lenders.
The Company is awaiting TSX approval of the proposed amendments and expects to execute the final documentation by September 30, 2011.
"The recently completed milestones are testament to the hard work and success the Company has had in the recent months," said Walter M. Higgins, Interim President and CEO. "The re-negotiated bridge loan facility will allow the Company flexibility to use available funds in the development of future projects, and the additional capital available under the Phase I facility as well as the initial draw under the Phase II facility re-affirms the desire of our lending partners to complete both phases of the expansion at San Jacinto. In addition, the continued success of our drilling program means added savings in future drilling costs to the Company resulting in increased shareholder value."
Antony Mitchell, Executive Chairman for Ram Power stated, "We would like to thank our bridge facility lenders Sprott Resource Lending Partnership, Exploration Capital Partners 2008 Limited Partnership and Newberry International Holdings Ltd. for their continued support of the Company during this time. The significant changes instituted by the Company over the last two quarters have had positive, tangible results which will ensure the long term success at San Jacinto and the continued development of our pipeline of projects."
Sep 20, 2011
Nevada Geothermal Power Releases Independent Resource Review On Blue Mountain
Nevada Geothermal Power Inc. has announced that it has completed a comprehensive independent review of all resource information for the Blue Mountain project in order to gain a better understanding of the geothermal fluid flow system and ultimately to increase production from the Faulkner 1 geothermal power plant.
The study concludes that:
Deep western injection wells 55-15, 57-15, 58-15 and 61-22 inject cooled geothermal fluid from the power plant into the hottest known part of the geothermal field. Geochemistry of reservoir fluids predict that still hotter thermal water is present in this portion of the geothermal system. Current injection of cooled water under pressure may be impeding hotter water from deeper in the fault structure from flowing up and eastward to the section 14 production wells.
Shifting current injection from wells 55-15, 57-15, 58-15 and 61-22 to new well field areas along fault structures to the north and northeast would mitigate current well communication issues and allow for potential increased production from the power plant. Shifting injection may be achieved through stimulation of existing wells and by drilling new wells on identified structures.
Geothermal reservoir host rocks are extensively altered and faulted. New injection targets are indentified on structures trending north and northeast.
New production targets are identified on the deep structures to the west.
The study makes recommendations for increasing injectivity at existing shut-in wells to help stabilize the production temperatures and further drilling to potentially increase production from current levels.
The study was conducted under contract by Engeocon LLC. Stuart Johnson, principal of Engeocon, subsequently has joined NGP’s permanent staff to help implement the Blue Mountain and other NGP resource development programs. Mr. Johnson is a recognized authority on geothermal resource development, having successfully reversed start up reservoir production declines by redistributing injection fluids at the Dixie Valley and Stillwater geothermal fields in Nevada. He directed field development work at Steamboat Hills, Nevada that enabled expansion of production capacity from approximately 35 MW when the property was acquired by Ormat to approximately 90 MW today.”
Source: Company release via Yahoo
Sep 20, 2011
US Geothermal Announces Changes To Its Board Of Directors And Management Team
In a release, “U.S. Geothermal Inc., announced changes to its board of directors and management team, effective mid September, 2011.
Mr. Dennis Gilles has been appointed to U.S. Geothermal Inc.’s board of directors. Mr. Gilles has 25 years in the power generation business with experience ranging from power plant construction and operations to senior level management. Mr. Gilles spent 23 years with Calpine Corporation at the Geysers geothermal field where he was instrumental in consolidating the majority of the Geysers operations into a single entity. Mr. Gilles was part of the expansion and growth of Calpine Corporation from the very first megawatt to what is now the largest independent power producer in the country. He completed his career with Calpine as the Senior Vice President of Renewable Growth and is now consulting for the energy sector worldwide. Mr. Gilles is a registered professional engineer in California and earned an MBA and a Bachelor of Science degree in Mechanical Engineering.
In response to our increased construction and growth activities and as part of our succession planning, Mr. Doug Glaspey has been promoted to President and will remain as Chief Operating Officer. Mr. Daniel Kunz will continue as Chief Executive Officer. Mr. Jonathan Zurkoff has been named Treasurer and Executive Vice President. Mr. Zurkoff has extensive experience in arranging debt and equity and led the project finance efforts at Neal Hot Springs and San Emidio.
Mr. Kunz said, “On behalf of the board, we are pleased that Dennis has joined us to provide additional geothermal development experience as we expand our growth projects. I am also happy to announce the promotion of Doug and Jonathan. These highly experienced renewable energy executives will continue to add significant value to our senior executive team.”
Source: Company release by email
Sep 20, 2011
Alterra Power Announces Receipt of Permit to Expand Reykjanes Plant
VANCOUVER, Sept. 15, 2011 /CNW/ - Alterra Power Corp. (TSX: AXY) ("Alterra") is pleased to announce that an operating permit has been received for its planned 80 MW expansion of the Reykjanes geothermal power plant in Iceland. The permit formally allows Alterra to install and place into service a new, currently-owned 50 MW turbine, as well as a 30 MW low pressure turbine that will be powered from existing steam production.
Separately, Alterra is continuing its effort to finalize power purchase arrangements with aluminum smelter Norðurál Helguvík sf. (a subsidiary of Century Aluminum Co., "Norðurál") and other industrial power purchasers. Results from a pending arbitration related to a prior power purchase agreement with Norðurál are expected this fall.
Júlíus Jónsson, CEO of Alterra's Icelandic subsidiary, HS Orka hf ("HS Orka"), said, "I am pleased that we have now been granted regulatory approval to move forward with this major expansion in a uniquely rich resource area. Full attention is now focused on finalizing our power purchase and financing arrangements, which we intend to achieve in the next few months."
About HS Orka
HS Orka is the largest privately owned energy company in Iceland, producing 9% of the country's power needs and 10% of the country's heating needs. Installed geothermal power capacity is 175 MW from the Svartsengi and Reykjanes power plants. In addition, HS Orka generates 150 MW of thermal energy for district heating. Expansions are planned that could increase HS Orka's geothermal power production to 405 MW by 2016. HS Orka is 75% owned by Alterra, and 25% by Jarðvarmi slhf, a company owned by a group of 14 Icelandic pension funds.
About Alterra Power Corp.
Alterra Power Corp is a leading global renewable energy company, formed in 2011 through the merger of Magma Energy Corp and Plutonic Power Corp. We operate six power plants totaling 571 MW of capacity, including two geothermal facilities in Iceland, a geothermal plant in Nevada, British Columbia's largest run of river hydro facilities and the province's largest wind farm. Our 315 MW share of production generates 1,518 GWh of clean power annually. We have an extensive portfolio of exploration and development projects, a skilled international team of explorers, builders and operators as well as the strong financial capacity to support our aggressive growth plans.
