News
Nov 26, 2009Magma Energy Corp hiring for experienced Exploration Geologist
CanGEA member, Magma Energy Corp is hiring for an experienced Exploration Geologist to join their prestigious team of professionals. Details for the job and application process can be found here.
About Magma Energy
Magma Energy Corp is a geothermal pure play focused on becoming THE pre-eminent geothermal energy company in the world.
They have institutional quality management, property portfolio and growth prospects. Since inception in early 2008 Magma Energy Corp has acquired one operating power plant and an interest in two others, all of which have expansion potential. They also have five advanced stage projects and twenty-two exploration projects - one of the largest geothermal portfolios of any company.
Nov 25, 2009
CanGEA Media Sponsor, Marketwire, Advocates CanGEA Geothermal Workshop
Thanks to our Media Sponsor, Marketwire for submitting this news release in support of our Calgary Workshop.
CALGARY, ALBERTA—(Marketwire - Nov. 25, 2009) - The Canadian Geothermal Energy Association (CanGEA) would like to announce the 2009 Geothermal Power Investment Workshop and Networking Reception, December 3rd, 2009 in Calgary, Alberta, Canada. The Investment Workshop and Networking Reception will bring together investors, financiers and stakeholders in the geothermal power industry to explore the wealth of opportunity in this emerging renewable energy sector.
Geothermal power has been referred to as the “King of Renewables” with consistent base-load power production, low emissions and a small environmental footprint. Under potential carbon emission legislation geothermal energy offers a CO2 free, clean source of power. Geothermal energy also has the unique potential to provide carbon offsets in the Canadian energy marketplace. With an estimated potential of over 5,000 MW, from traditional development methods alone, geothermal power’s significance in Canada’s energy portfolio will continue to grow. Geothermal energy in Canada represents an investment potential of nearly $20 billion.
As the number of investor prospects in geothermal power broadens, a trusted forum for investor education and networking in the geothermal power industry has been absent. This unique event aims to deliver a one-stop solution through a series of expert-led presentations and the opportunity to network with the biggest names in geothermal power.
Attendees at the conference will learn geothermal power basics from CanGEA experts, explore prominent geothermal power projects in the industry, and understand the development perspective from a distinguished finance, legal and utilities panel. The Workshop will also provide an overview of the Canadian Geothermal Reserves and Reporting Code aimed at improving investor confidence in the geothermal energy industry through the establishment of key metrics for geothermal value. The keynote speaker for the event is Dr. Michal Moore, co-author of the M.I.T. report “The Future of Geothermal Energy”. Dr. Moore will explore the potential for geothermal energy in Canada’s most significant energy development, the Alberta Oil Sands.
Alison Thompson, CanGEA’s Chairman, is excited for the opportunity to showcase geothermal power in Alberta, “CanGEA is looking forward to Canada’s energy capital, Calgary, embracing the king of renewable energy, geothermal power. In addition to savvy resource investors and an established energy finance community, Alberta offers a highly skilled talent pool of geoscientists and engineers who can contribute to the development of geothermal energy and CanGEA’s goal of 5,000 MW by 2015!”
Confirmed speakers include representatives from Magma Energy Corp, Sierra Geothermal Power Inc, Dundee Securities Corp, Borden Ladner Gervais LLP, Jacob Securities Inc and more.
Space is limited at the event so prospective attendees are encouraged to sign up soon. Sponsorship opportunities are also still available.
For more information please visit http://www.cangea.ca.
About CanGEA
CanGEA is a national, not for profit association that works on behalf of our members to facilitate and promote the responsible and sustainable growth of high temperature geothermal energy in Canada, which, we believe, can provide competitive, emissions free, renewable, base-load energy to Canadians and export markets.
To view the article from its original source click here.
Nov 25, 2009
CanGEA Board Director and CanGEA Member Appointed to BC’s Green Energy Advisory Task Force!
VICTORIA – The committee members of the Green Energy Advisory Task Force, dedicated to ensuring B.C. remains a leader in clean and renewable energy, were announced today by Blair Lekstrom, Minister of Energy, Mines and Petroleum Resources, Barry Penner, Minister of Environment, and John Yap, Minister of State for Climate Action.
CanGEA would like to congratulate:
CanGEA’s own Craig Aspinall, Board Director for CanGEA and manager of Public Policy for Western GeoPower Corporation, was appointed to the Advisory Task Force on Resource Development.
CanGEA member, Warren Brazier, chair of Clark Wilson LLP Energy and Natural Resources Practice Group, was appointed to the Advisory Task Force on Carbon Pricing, Trading and Export Market Development.
“The new members of the Green Energy Advisory Task Force are leaders who will help us to turn green energy potential into real economic, environmental and social benefits for British Columbians,” said Lekstrom. “Advancing B.C.’s green energy potential is one of the highest priorities for British Columbia, and these leaders will help us to maximize our clean, green energy opportunities.”
To view this news release in its entirety and to view the other members appointed click here.
Nov 24, 2009
Chevron Lubricants Sponsors CanGEA Geothermal Workshop
CanGEA is proud to announce that Chevron Lubricants will be sponsoring the CanGEA Geothermal Investment Workshop & Networking Reception in Calgary, December 3, 2009.
About Chevron Lubricants
Chevron Lubricants provides advanced products for industrial, Commercial, and Consumer applications. Around the world, their Chevron, Caltex and Texaco brands are recognized for a legacy of technological innovation, performance, and reliability.
As a leading supplier of lubricants worldwide, Chevron Global Lubricants continually works to advance the state of lubrication technology, enabling their network of lubrication specialists to deliver the leading-edge products and customized services you need, when you need them.
Nov 23, 2009
SGP Announces Conference Call for 2009 Third Quarter Results
VANCOUVER, BRITISH COLUMBIA—(Marketwire - Nov. 19, 2009) - Sierra Geothermal Power Corp. (SGP) (TSX VENTURE: SRA) today announced that its 2009 third quarter results will be released prior to the close of the TSX.V market on Monday, November 23, 2009. A conference call to discuss Management’s Discussion and Analysis, financial results, project updates and development plans will be held on Tuesday, November 24, 2009 at 10:00 am ET (7:00 am PT).
To view more details click here.
Nov 23, 2009
Sierra Geothermal loses slightly less money in 2009 Q3 compared to 2008
VANCOUVER, B.C. - Sierra Geothermal Power Corp. (TSXV:SRA) reported Monday a loss of $566,070 in the third-quarter, down slightly from a loss of $571,949 in the same quarter last year, citing a decrease in stock-based compensation and efforts to reduce expenses.
The loss per share of less than a cent remained the same as last year.
The company also announced it enlarged its estimated minimum megawatt capacity for its Silver Peak geothermal project located in Nevada.
“With our positive exploration results, our recent financings and our U.S. government grants, we are confident that we will achieve our goal of having 50 megawatts of total capacity at the bankable feasibility stage by the end of next year,” Gary Thompson, Sierra’s president and CEO said in a statement.
Sierra is a Vancouver-based renewable energy company focused on the exploration and development of sustainable geothermal power, with projects in Nevada and California.
Shares in the company closed at 30 cents Monday, down 1.61 per cent or half a cent.
To see the whole article click here.
Nov 22, 2009
CanGEA Updates Calgary Geothermal Power Investment Workshop & Networking Reception Agenda!!
CanGEA is proud to present a finalized agenda (PDF) for the Dec 03, 2009 Calgary Geothermal Power Investment Workshop.
New additions include some of the BIGGEST names in geothermal power: a Legal Panel with Fred Pletcher, a Partner with Borden Ladner Gervais LLP, a Finance Panel with speaker Ian Tharp, Senior Research Analyst for Dundee Securities Corp., a Utility and Off Takers Panel with Chuck Szmurlo, Vice President for Enbridge Inc. and David Morrison the President and CEO of Yukon Energy, and Michal C. Moore, Co-author of the MIT report “The Future of Geothermal Energy” giving a Keynote Speech about Engineered Geothermal Systems for The Oil Sands.
Space is limited, and with these exciting new speakers seats will go fast. Don’t delay and risk missing out on this unique event. Sign up now!!
Event proudly sponsored by:
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Nov 20, 2009
CanGEA Welcomes its Newest Member: Blake, Cassels & Graydon LLP
We are proud to announce that Blake, Cassels & Graydon LLP has joined the CanGEA team! We are excited to have support from one of Canada’s leading business law firms having more than 550 lawyers and an integrated network of offices in Canada, the United States, Europe and China. Blakes energy law practice offers significant knowledge and expertise in, and provides advice and services associated with all aspects of the energy industry.
To view their website click here.
Nov 20, 2009
Magma Energy Acquires 8.62% Stake in HS Orka from Geysir Green Energy
(Source: Datamonitor) Canada-based Magma Energy, a geothermal power company, has finalized an agreement to acquire from Geysir Green Energy an 8.6% stake in HS Orka, a geothermal company in Iceland, for approximately $20 million.
The agreement provides that Magma will purchase a further 2.16% share in HS Orka for approximately $5 million payable by March 31, 2010.
Magma also holds an option to acquire an additional stake in HS Orka by making a capital infusion of $15 million into HS Orka at any time in the next two years. A previously announced agreement to purchase a 32% stake in HS Orka is expected to close in late November 2009.
To learn more click here.
Nov 20, 2009
New revolution in electricity generation - Pilot Plant Officially Open Nov. 20
Efficient large-scale power generation from geothermal and other low-grade heat sources is a step closer with the release of a revolutionary new technology platform.
Called GRANEX, the technology delivers higher thermal efficiencies than conventional power plants and increases the amount of electricity that can be generated from low-grade heat sources such as geothermal and industrial waste heat.
A 100 kilowatt pilot plant will be opened at the University of Newcastle’s Callaghan campus by the NSW Minister for Mineral Resources, Peter Primrose MLC, and the NSW Minister for the Hunter, Jodi McKay MP. The pilot plant will allow for a comprehensive power generation program over a wide range of operating conditions.
Over the past four years a team of researchers led by Professor Behdad Moghtaderi from the University’s Priority Research Centre for Energy have worked in partnership with Granite Power Pty Ltd (GPL) on the GRANEX technology platform, developing and studying a one kilowatt proof-of-concept power plant.
“The one kilowatt model was a great success and demonstrated a 40 per cent improvement in terms of thermal energy efficiency and power generation,” Professor Behdad Moghtaderi said.
“It demonstrated for the first time an effective and economically viable technology platform for power generation from low-grade heat sources and has allowed us to scale up the project to the 100 kilowatt pilot plant.
“Our work from here will allow us to establish the parameters to design and build a power plant of any size based on the GRANEX concept and put to use valuable heat sources that would otherwise be wasted.”
Professor Moghtaderi said, if harnessed, geothermal and waste heat energy could be used to meet the demand of the Australian electricity market for years to come.
“Geothermal energy has clear environmental advantages over other renewable energy sources as it has no CO2 emissions and can provide baseload electricity,” Professor Moghtaderi said.
GPL Managing Director Stephen de Belle said the performance of GRANEX would transform the power generation sector, and was a huge credit to Professor Moghtaderi, his team and the University of Newcastle.
“The existing recovered industrial waste heat market and the growing demand for low-cost, green, basedload geothermal power means there is a large and increasing market in Australia and internationally for GRANEX,” Mr de Belle said.
“It will have significant and very positive implications for employment and exports.”
Several major power companies and industrial companies have already expressed a keen interest in the GRANEX technology for waste heat recovery programs. When testing is complete, the 100 kilowatt pilot plant will likely be relocated to Vales Point Power Station for further investigations.
