News
Aug 04, 2011Green Rock And Pacific Hydro Sign Binding Agreement To Develop Conventional Geothermal Resources
Green Rock and Pacific Hydro sign binding agreement to develop conventional geothermal resources for power projects. The binding Memorandum of Understanding covers Green Rock’s North Perth Basin permits in the energy-hungry Mid West region of Western Australia and Pacific Hydro’s and Green Rock’s licences in the Great Artesian Basin in South Australia. Initial power projects of at least 25MW are contemplated in both the North Perth Basin and the Great Artesian Basin, leading to hundreds of MW of generation from each Basin over the coming decade. Green Rock and Pacific Hydro will jointly promote the opportunity to upstream investors to farm-in and substantially fund drilling to prove the resources.
For more details click here
Aug 02, 2011
Stephan Jacob of Munich RE to Speak About Exploration Risk Insurance At CanGEA’s Annual Conference
Stephan A. Jacob is an underwriter at the German re-insurance giant Munich Re. He has over 4 years experience in developing tailored insurance solutions for geothermal projects covering the exploration risk for deep geothermal wells. Munich Re has developed the first exploration risk insurance policy worldwide and has just announced an exploration risk insurance issued for the Traunreut geothermal project in Upper Bavaria, Germany. The project is to provide 5 MW in electricity generation capacity and 12 MW of thermal heat. Stephan A. Jacob of Munich RE will present the company and its activities at CanGEA’s Annual Conference and Investment Forum in Toronto, September 14-15, 2011.
Jul 28, 2011
Successful Geothermal Permit Sales in BC
In June 2011 the province of British Columbia announced a Crown Geothermal Resources Notice of Public Tender for three geothermal permits in the Upper Lillooet River area Northwest of Pemberton in the West of BC.
The Notice of the Public Tender was for a “Competition for the Right to Explore and Develop Crown Geothermal Resources” to be held July 26, 2011. The BC MInistry of Energy and Mines has now announced the successful sale of all three permits to Salal Geothermal Inc. and 2149749 Ontario Inc.
|
|
PERMITS |
LEASES |
TOTAL: |
|
OFFERED (NUMBER) |
3 |
0 |
3 |
|
OFFERED (HA) |
8,056 |
0 |
8,056 |
|
PURCHASED (NUMBER) |
3 |
0 |
3 |
|
PURCHASED (HA) |
8,056 |
0 |
8,056 |
|
AVERAGE PRICE |
$27.25 |
$.00 |
$27.25 |
|
FEES |
$1,500.00 |
$.00 |
$1,500.00 |
|
RENT |
$8,056.00 |
$.00 |
$8,056.00 |
|
TENDER BONUS |
$219,552.10 |
$.00 |
$219,552.10 |
|
TOTAL |
$229,108.10 |
$.00 |
$229,108.10 |
The official announcement from The Ministry of Energy and Mines can be found here
Jul 28, 2011
NGP Strengthens Development Team And Updates Project Status
VANCOUVER, B.C. (July 27, 2011) – Nevada Geothermal Power Inc. (NGP) (TSX-V: NGP, OTC-BB: NGLPF) is pleased to announce that Stuart D. Johnson has been appointed Vice President, Resource Development effective August 1, 2011. Mr. Johnson joins Kim Niggemann, who becomes Vice President, Resource Operations and External Affairs and Max Walenciak, Senior Vice President, Project Development and Plant Operations with overall responsibility for projects in the U.S. In addition, Paul Wilson, formerly CEO of Iceland America Energy, has joined NGP as Manager, Imperial Valley Area. Stuart Johnson is a nationally recognized expert in the design and application of exploration, geothermal reservoir development and production methods for geothermal power production. Mr. Johnson has managed successful reservoir development programs for projects within the Western United States. He played important roles in the development of commercially-producing fields in Imperial Valley, California (Heber and East Mesa), Nevada (Steamboat Hills, Jersey Valley, Brady, Desert Peak, Dixie Valley, Soda Lake, Stillwater, and Beowawe), Hawaii (Puna) and Utah (Roosevelt Hot Springs). Mr. Johnson holds an M.S. in Economic Geology from the University of Wisconsin, Madison and a B.A. in Geology from Western Michigan University. Paul Wilson has extensive financial and operational experience in the geothermal and construction industries having served as CEO, CFO and Executive Vice President - Operations at regional and national firms headquartered in Southern California. Mr. Wilson brings experience in strategic and operational planning, project management, systems design and implementation, mergers and acquisitions, and financial control. Mr. Wilson has a Bachelors degree in Business Management from Southwestern Adventist University and a Professional Certification in Total Quality Management from the University of California at Los Angeles (UCLA). Project Updates Confirmation drilling has commenced at NGP’s 100% owned North Valley Project near Fernley in Northern Nevada. The 3000 foot (915 meter) deep well is centrally located within a large, ten-square-mile, high-grade heat anomaly with temperature gradients between 10-25°F/100ft (200-450°C/km). A large, intense conductance anomaly, broadly coincident with the high temperature gradient zone, is interpreted to reflect a cap of clay alteration associated with a blind geothermal system at depth. This is the first NGP drill hole at North Valley. The well is designed to obtain key subsurface geological information, detailed temperature data, a water sample at depth and to improve our understanding of the geothermal system. Link to North Valley Video: http://www.nevadageothermal.com/s/MediaVideo.asp Drilling and other field work is continuing at Crump Geyser, Oregon by Crump Geothermal Company, LLC, a joint venture holding company owned 50:50 by NGP and Ormat. Field assessment and permitting work has commenced for the New Truckhaven and East Brawley Projects in Imperial Valley with a view of starting resource development drilling in 2012. NGP will open a local project office in the near future.
Jul 15, 2011
Nevada Geothermal Power Inc. Awarded Cash Grant
NevadaGeothermal Power Inc. Awarded US$7.9 Million Federal Grant for Additional Work Completed at Blue Mountain
VANCOUVER, B.C. (July 14, 2011) – Nevada Geothermal Power Inc. (NGP) (TSX-V: NGP, OTC-BB: NGLPF) is pleased to announce that the United States Department of the Treasury has informed NGP that the Company’s application in the amount of approximately US$7.9 million for Specified Energy Property in Lieu of Tax/Credits relating to additional drilling completed at Blue Mountain ‘Faulkner 1’ geothermal power plant subsequent to being placed in service has been approved under Section 1603, Division B of the American Recovery and Reinvestment Act of 2009. Payment of the full amount is expected imminently.
Faulkner 1 was placed in service on October 9, 2009 and NGP has since completed new well field work that was not included in the original application. The Company intends to use the funds to repay a portion of the debt owing to lenders.
About Nevada Geothermal Power Inc.:
Nevada Geothermal Power Inc. operates the Faulkner 1 geothermal plant in Nevada. It is a growing, renewable energy developer focused on producing clean, efficient and sustainable geothermal electric power from high temperature geothermal resources in the United States. NGP currently owns leasehold interests in eight properties:Blue Mountain, Pumpernickel Valley, Edna Mountain and North Valleyin Nevada, New Truckhaven, East Brawleyand South Brawley, in California and Crump Geyser, in Oregon. These properties are at different levels of exploration and development. NGP estimates a potential of between 150 MW and 300 MW from its current leaseholds.
Jul 14, 2011
Deep Earth Energy’s Geothermal Project Selected In SaskPower’s Green Options Partners Program
SASKATOON, SASKATCHEWAN – DEEP EARTH ENERGY PRODUCTION CORP. (“DEEP”, or the “Company”) is pleased to announce that its application for a 5.0 MW geothermal project located in Southeast Saskatchewan was selected in SaskPower’s Green Options Partners Program lottery.
This is a significant milestone as the Company can now accurately forecast its future revenue stream from power generation. This announcement is also very timely as it will assist in capital raising efforts for initial geothermal drilling, expected to commence this winter. As the Green Options Partners Program lottery selections occur each year, DEEP will be applying for increased power allocation in the future.
Further details about the Green Options Partners Program:
The SaskPower’s Green Options Partners Program lottery is held each year. It streamlines power purchasing for small and medium-sized “clean power” producers that sell between 100 kilowatts (kW) and 10 megawatts (MW) of electricity, by providing a fixed price for all power produced under the contract. Payment per Megawatt-hour (MWh) depends on the target commercial operation date and the actual commercial operation date. The energy tariff for 2012 is $98.02/MWh and increases at rate of 2% per year over the term of the contract.
SaskPower has posted the names of all 13 projects totaling 46 megawatts and project generalities of all of the selected applicants on their website (see below). Projects also include Wind, Flare gas, Landfill, Turbo Expander and Hydro. The program offers increased stability to clean power producers as the energy tariff rates are the same for peak and off-peak generation. Power rates are the same for all power production technologies and guaranteed even if the program is cancelled or altered.
Jul 12, 2011
Ross Beaty Of Alterra Power Discusses Geothermal Energy On BNN
Ross Beaty of Alterra Power discusses geothermal energy on Business News Network Headline With Howard Green.
Watch the interview here.
Jul 11, 2011
Investing in geothermal energy; Rick Rule & John McIlveen talk about the issues on BNN
Investing in geothermal energy; Rick Rule & John McIlveen talk about the issues on Business News Network Headline with Howard Green.
Watch the discussion here
Jul 11, 2011
Geothermal Debate On Business News Network Headline
Tim Rand and Tom Adams debate geothermal on Business News Network Headline with Howard Green.
Watch the debate here
Jul 06, 2011
Geothermal Energy: A No-Brainer For Canada
Peggy Holroyd of the Pembina Institute just wrote a great article on the status of geothermal energy development in Canada.
Check out the the article here
