News
Apr 20, 2011CanGEA Chair Comments on Canadian Renewable Energy Market Overview
Alison Thompson, CanGEA chair, comments on the Canadian renewable energy market in an interview by David Wagman at Renewable Energy World North America magazine.
April 19, 2011 - One renewable technology that has yet to gain any foothold is geothermal energy. The country shares the same continental shelf and geology as the U.S., Mexico and Latin America and counts some 200 hot springs that have yet to be developed. But the federal government and the provinces both have so far failed to put in place policies and regulations to encourage geothermal development, said Alison Thompson, chair of the Canadian Geothermal Energy Association. She acknowledged the group's goal to have 5,000 MW of installed capacity by 2015 is unrealistic and said proponents hope instead that a similar amount of geothermal resource can be defined by that date. "We are quite comfortable with that number given production rates in the U.S. and Mexico," she said.
Educating policymakers remains a priority for Association members, she said. The Ontario FIT program includes every renewable energy resource available in the province but geothermal. And out of the C$1.3 billion allocated at the federal level as a production incentive, none was earmarked for geothermal. Efforts are underway to create permit and lease programs at the provincial levels and to have geothermal included in future feed-in tariff programs. One recent success came last December when the federal government offered tax breaks to resource exploration firms that drill for geothermal.
Unlike other renewable energy resources, Thompson said geothermal energy can be cost-competitive without extensive subsidies, especially in remote parts of the county where communities often rely on diesel for electric power generation. In portions of the Northwest Territories, communities can spend hundreds of dollars per megawatt-hour for electricity. "Geothermal comes in far below that," she said. In Alberta, which offers an incentive of $15 a tonne to reduce carbon dioxide emissions, geothermal could be competitive. And in hydro-rich British Columbia, which offers essentially no incentive, geothermal could be competitive on the grid, however, access to leases and permit remain major barriers.
Full article at Renewable Energy World
Apr 19, 2011
CanGEA Presents at Canada Forum’s “Powering up Aboriginal Energy” Event
Canada Forum’s event “Powering up Aboriginal Energy” takes place on the 18-19th of April at the Delta Chelsea Hotel, Toronto, ON.
Event Description: Clean Energy Empowering Economic Development Across Canada.
The Aboriginal Clean Energy Forum is a partnership endeavor with First Nations to foster new economic development relationships with the private sector and governments to make clean energy projects a reality. This conference aims to help First Nations communities become active partners in hydro, wind, biomass solar and geothermal projects from coast-to-coast-to-coast. The Forum is the National event in the domain of Aboriginal clean energy.
CanGEA director John McIlveen will be attending and presenting during the Geothermal Workshop. CanGEA member companies Borealis GeoPower and Acho Dene Koe First Nations will also be presenting.
Apr 19, 2011
Magma Energy to Sell 25% of Iceland Subsidiary HS Orka to Icelandic Pension Funds
VANCOUVER, April 18 /CNW/ - Magma Energy Corp. (TSX: MXY) announces that its wholly-owned subsidiary, Magma Energy Sweden AB has signed a term sheet to sell a 25% interest in its 98.5%-owned Icelandic geothermal power company HS Orka hf to a group of Icelandic pension funds. The purchase price of ISK 8.06 billion (approximately US $71.5 million) is approximately equal to Magma's original cost of acquisition. The pension funds will also hold an option until February 10, 2012 to purchase new shares from HS Orka treasury that, if exercised, would increase their stake in HS Orka to 33.4% at a cost of ISK 4.7 billion (approximately US $41.7 million). Magma has also agreed to provide the pension funds with significant minority shareholder rights to appoint Board members and participate in the major decisions of HS Orka as long as they continue to hold at least a 22.5% interest. The transaction is subject to a number of conditions, including further due diligence, and is expected to close in May.
About Magma Energy Corp.
Magma Energy Corp. is a global geothermal power company which operates, develops, explores and acquires geothermal energy projects. We have an extensive portfolio of properties throughout the western United States, Iceland and Latin America, including one operating power plant in Nevada and two in Iceland.
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's 75 MW Svartsengi plant began production in 1977 and its 100 MW Reykjanes plant began production in 2006. The electrical supply is partly sold in US dollars to industrial users under long-term power purchase agreements.
More information on Magma's website
Apr 19, 2011
Magma Energy Awarded its First Geothermal Concessions in Peru
Magma Energy Corp.(TSX: MXY) is pleased to announce that it has been awarded two geothermal exploration concessions in Peru, known as Crucero and Loriscota. These concessions cover 37,400 hectares of land in southern Peruand are underlain by young volcanic rocks with numerous hot springs and other promising indicators of large geothermal systems.
During 2011, Magma will conduct geological, geochemical, and geophysical work to advance each concession´s potential for geothermal power production. Magma expects to receive additional Peruvian geothermal concessions during the year.
Dr. Catherine Hickson, Magma´s Chief Geologist and Vice-President Exploration, said, "I am very pleased we have received these long-awaited concessions and can now begin active fieldwork. Peruhas promising geology for world-class geothermal systems and I hope we can replicate in Peruthe success we have experienced to date in our Chilean projects."
More information on Magma's website
Apr 12, 2011
CanGEA Member SNC Lavalin Celebrates 100th Anniversary
Montreal | April 11, 2011 SNC-Lavalin (TSX: SNC) launched its 100th anniversary celebrations today at Montreal’s Palais des congrès. President and CEO, Pierre Duhaime, chose the occasion of the Company’s 2011 International Symposium to announce the commencement of celebrations to the media and about 400 employees from its offices around the world.
“This is a tremendous achievement, and we’re very proud of every one of our employees, both past and present, who have made SNC-Lavalin the amazing company it is today,” said Duhaime. “Engineering and construction firms play a crucial role in shaping society. They constantly look for more efficient and sustainable ways to build the facilities and infrastructure we rely on – buildings, bridges, water treatment plants, industrial plants, power plants – the list goes on and on. It is challenging and fulfilling work that improves the well-being of communities around the world.”
Founded in Montreal in 1911, the Company started out as a one-man engineering consulting office with one client. Today it has grown to be one of the world’s largest engineering/construction firms with 24,000 employees in offices across Canada and in over 35 other countries around the world. At any given time its employees are working on thousands of projects in some 100 countries. In 2010, it earned revenues of $6.3 billion and a net income of $437 million.
SNC-Lavalin has grown and evolved to a remarkable extent over the last hundred years. It has world renowned expertise in numerous sectors of activity and extensive experience in hundreds of countries. It is also one of very few companies in the world that can cover the entire life cycle of a project. It has the know-how and resources to design, build, operate, maintain, and even arrange project financing, for facilities and infrastructure anywhere in the world.
“We’re especially proud of the fact that sustainable development, as it is known today, has been an integral part of SNC-Lavalin’s culture from the very beginning,” said Duhaime. “Early in the company’s history, back in 1917, our first president, Arthur Surveyer, advocated ‘respecting the laws of nature and economically managing works that will improve the comfort and well-being of humanity.’ Today we promote a similar philosophy with our WE CARE values.”
To mark its 100th anniversary, SNC-Lavalin is launching a 100 Acts of WE CARE initiative. Between April and November 2011, the Company will recognize 100 examples of employees giving their time to a cause in their community related to one or more of its WE CARE values: health & safety, employees, communities, the environment and quality.
“From building a hospital in Uganda to helping street kids in Montreal, our employees are doing truly impressive volunteer work in their own communities and in the communities near our project sites,” said Duhaime. “You don’t have to be a huge company to help improve society – everyone can contribute and we’re hoping this initiative will encourage other companies and individuals to help wherever they can.”
Employees in SNC-Lavalin’s offices around the world will be marking the centennial throughout the year with various activities. Today, April 11, is the day the Company is celebrating its birthday. Birthday cake was served to employees worldwide across 11 time zones. Meanwhile, a travelling hard hat is criss-crossing the globe visiting SNC-Lavalin’s offices and project sites for photo opportunities. This Spring, SNC-Lavalin will also be giving each of its 24,000 employees an official centennial history book as a memento to mark the occasion, also available for sale.
SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. SNC-Lavalin has offices across Canada and in over 35 other countries around the world, and is currently working in some 100 countries. In business since 1911, the Company celebrates its 100th anniversary in 2011.
Source: snclavalin.com.
Apr 12, 2011
CanGEA Member US Geothermal Receives Key Reservoir Certificate
CanGEA Member US Geothermal Receives Key Reservoir Certificate for Neal Hot Springs Oregon Project
Plant Construction and Related Site Work Underway;
Hundreds of Jobs Created
BOISE, Idaho (April 11, 2011) -- U.S. Geothermal Inc. (NYSE Amex: HTM; TSX: GTH), a leading renewable energy company focused on the development, production and sale of electricity from geothermal energy, today announced the receipt of a key reservoir certificate by the U.S. Department of Energy's (DOE) independent reservoir engineer. The certificate is a technical condition required under the DOE's $96.7 million loan guarantee to construct the planned net 23 megawatt (MW) power plant at Neal Hot Springs in Eastern Oregon.
USG Oregon LLC, a subsidiary of U.S. Geothermal Inc., has now provided TAS Energy, Inc., Idaho Power Company and Industrial Builders Inc., with notices to proceed with the manufacture of the power plant, construction of a 10-mile transmission line and the site construction and development services, respectively. USG Oregon LLC also has initiated the final stage of drilling activities to drill the remaining required injection wells for the project.
"We are moving quickly to bring the Neal Hot Springs project online," said Daniel Kunz, President and Chief Executive Officer of U.S. Geothermal. "The Department of Energy's renewable-energy loan programs are helping to grow America's green economy by adding new jobs and putting renewable energy on a more level playing field with fossil fuel energy sources."
Idaho's largest utility, Idaho Power Company, has signed a 25-year power purchase agreement with USG Oregon LLC for up to 25 MW of electrical power per year. Beginning in 2012, the base energy price is $96 per MW hour and escalates annually. The calculated 25-year levelized price is $117.65 per MW hour.
The Neal Hot Springs project is the first geothermal project to complete the closing of a loan guarantee under DOE's Title XVII Section 1703 loan guarantee program, which was created by the Energy Policy Act of 2005 to support the deployment of innovative clean energy technologies. Based on the DOE loan guarantee, the U.S. Treasury's Federal Financing Bank is providing a $96.7 million low-cost, long-term loan to the Neal Hot Springs project. Enbridge (US) Inc. is acquiring a 20% direct ownership interest in the $129 million Neal Hot Springs project by funding the remaining equity share of the construction costs, with the balance of the construction costs being funded by the project loan.
The Neal Hot Springs project is expected to create or retain more than 50 permanent jobs in the Pacific Northwest. Approximately 400 jobs through the equipment supply chain, plant manufacturing and site construction activities will be created or retained during the project's 18-month construction phase.
More information on U.S. Geothermal website
Apr 06, 2011
CanGEA Member Ormat Signs 20-Year Power Purchase Agreement for 36MW Expansion in Kenya
CanGEOrmat Signs 20-Year Power Purchase Agreement for 36MW expansion of Olkaria III Complex in Kenya
RENO, Nevada, April 4, 2011 -- Ormat Technologies, Inc. (NYSE: ORA) announced today that its subsidiary, OrPower 4, Inc., signed a 20-year power purchase agreement (PPA) amendment with Kenya Power and Lighting Company Limited (KPLC) to purchase an additional 36 megawatts (MW) of clean energy output from a new power plant at the Olkaria complex. The new plant will be constructed adjacent to the existing 48MW Olkaria III geothermal power plant near Lake Naivasha, Kenya. The new power plant is scheduled to come online in 2013.
The PPA amendment includes an option to increase the combined 84MW capacity from the new and existing plants to up to 100 MWs subject to monitoring and assessment of the geothermal reservoir capacity. Ormat built the first 48 MW plant in three stages in parallel to the resource development, allowing the Company to advance revenue generation and long-term resource testing at commercial conditions. The first stage commenced in August 2000 with 8MW and was developed as part of the initial appraisal of the Olkaria III reservoir. This was followed by commercial well drilling and construction of a second and third stage to reach the 48MW target capacity, which was achieved in January 2009.
“Gradual development of a geothermal resource reduces a number of risks as data is continuously refined while the process moves forward. Using this phased approach, a power plant’s final design and future drilling programs are based on reliable resource data derived from long-term and on-going operation of the geothermal wells at commercial conditions rather than the short term tests that are customary in the geothermal industry.” said Dita Bronicki, Chief Executive Officer of Ormat. “Ormat continues to believe in Kenya’s economy and is proud to have the opportunity to expand Olkaria III by additional 36 MW. Our accomplishments in Kenya have been achieved through the hard work and dedication of our plant’s operation team that has consisted entirely of skilled local employees, managed by Eng. Ernest S. Mabwa, since the complex’s earliest stages.”
The first plant has been in continuous operation since 2000 and has achieved very high availability factors. Similar to the technology used in the existing plant, the new plant will utilize Ormat’s air cooled technology, which does not consume any water.
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 80 U.S. patents. Ormat has engineered and built power plants, that it currently owns or has supplied to utilities and developers worldwide, totaling approximately 1370 MW of gross capacity. Ormat’s current generating portfolio includes the following geothermal and recovered energy-based power plants: in the United States - Brady, Brawley, Heber, Jersey Valley, Mammoth, Ormesa, Puna, Steamboat, OREG 1, OREG 2, OREG 3 and OREG 4; in Guatemala - Zunil and Amatitlan; in Kenya – Olkaria III; and, in Nicaragua - Momotombo.
Source: Ormat
Apr 01, 2011
CanGEA Member Caldera Geothermal Increases Geothermal Acreage in Nevada
In an announcement, “Capricorn Business Acquisitions Inc. (“Capricorn”) (TSX VENTURE: CAK.P), a capital pool company, is pleased to convey an update received from Caldera Geothermal Inc. (“Caldera”), with whom Capricorn has signed a binding letter of intent to complete a Qualifying Transaction as disclosed in its press release dated April 8, 2010 and amended as disclosed in its press release dated December 9, 2010. Caldera is pleased to announce the acquisition of two key geothermal lease parcels totalling 8,575 acres at the 2011 Bureau of Land Management geothermal lease auction held in Reno, Nevada on March 22, 2011. These new leases bring Caldera’s total geothermal lease holdings to 28,448 acres. The total cost for the parcels was USD $54,170.
The two parcels expand Caldera’s acreage at its Teels Marsh and Rhodes Marsh properties, which are both “blind” geothermal systems where thermal waters do not reach the surface. Both were identified by subtle surface indicators, including shallow (2m) temperature anomalies. Geoprobe work at Teels Marsh in 2010 confirmed the presence of a geothermal system by finding thermal waters up to 97 degrees C at approx.30m depth below the shallow temperature anomalies. Geochemistry from a thermal well at Rhodes Marsh suggests a approx.150 degrees C reservoir.
Zohrab Mawani, Caldera’s CEO, commented: “We’re extremely pleased to have been so successful at this year’s auction, and in particular the acquisition of the Rhodes Marsh parcel now gives us a significant position over the target and gives Caldera another promising exploration asset.”
Mr. Mawani further added: “Events around the world are a sobering reminder of the need for renewable energy, and despite some of the challenges the industry has faced over the past two years, geothermal’s clean, secure and base load green energy will play an important part in delivering power to homes and businesses around the world. We believe we have picked up two excellent prospective geothermal exploration assets with a strong potential to host power production facilities in the next few years, and at a very low price. Over the medium and long term the value of these resources should become rationalized relative to other energy resources to the benefit of our shareholders and investors in the geothermal industry.”
Source: ThinkGeoEnergy.com
Apr 01, 2011
CanGEA AGM: Webinar Today at 11am MST
CanGEA will be hosting its 2011 AGM today, Friday 1st April, 2011. at 11 AM MST. If you wish to join the webinar, please send an e-mail to .(JavaScript must be enabled to view this email address)
Mar 31, 2011
CanGEA Member Ram Power Signs PPA for 26MW Geyser Project of Subsidiary Western Geopower
Ram Power announces that NCPA has approved an amended and restated Power Purchase Agreement with the company’s subsidiary Western GeoPower for the purchase of power from the 26 MW geothermal power project of WGP in the Geysers area in California.
In a release by Ram Power (TSX: RPG), the company announced “today that the Northern California Power Agency (“NCPA”) has approved an amended and restated power purchase agreement (the “Power Purchase Agreement”) with the Company’s subsidiary, Western GeoPower, Inc. (“WGP”), for the purchase of all energy and available environmental attributes from WGP’s geothermal power plant at The Geysers Geothermal Field in Northern California (the “Project”). The Company anticipates that the 26 MW (net) Project will be completed by the end of 2013.
The Power Purchase Agreement amends a power purchase agreement entered into in 2008. Among other things, the Power Purchase Agreement updates the milestones for completion of the Project, adjusts the expected capacity of the Project to approximately 26 MW (net), revises the purchase price per MW, and extends the term of the agreement from 20 to 25 years. NCPA’s Commission approved the Power Purchase Agreement on March 24, 2011. Subject to approval by the five NCPA members which are receiving power from the Project, it is anticipated that the Power Purchase Agreement will be signed in April 2011.
“Our commitment to explore and develop innovated and effective ‘green power’ energy programs is reflected in this agreement,” said Jim Pope, general Manager of NCPA. “By securing the geothermal power from the Western GeoPower Unit 1, our member communities in Northern and Central California will continue to benefit from what we consider to be the prime source of reliable, sustainable energy compared to the cleanest natural gas-fired sources. The inclusion of this unit to our resources now expands our geothermal production from four to five plants at The Geysers.”
“We are extremely pleased with the results of the NCPA negotiations,” stated Antony Mitchell, Executive Chairman of Ram Power. “NCPA has again recognized Ram Power’s continued desire to develop the Geysers project thereby delivering clean, renewable geothermal energy to their customers into the future.”
The Geysers Geothermal Field, located 75 miles north of San Francisco, California, is the largest producer of geothermal electricity in the world. Commercial geothermal power has been generated continuously at The Geysers Field since 1960, the present generation level being about 900 megawatts of clean, base load electricity. WGP owns or leases all of the geothermal rights necessary to develop the Project. The Project’s steam field is situated in the southwestern region of The Geysers Field in Sonoma County. A commercial power plant of 62 megawatt (gross) capacity, known as PG&E Unit 15, operated at the steam field during 1979-1989.
NCPA, located in Roseville, California, is a joint powers agency providing clean, renewable energy to its 17 member communities and districts in Northern and Central California. Founded in 1968, NCPA owns and operates power plants that together comprise a 95% emission-free generation portfolio. NCPA owns and operates geothermal power plants, hydroelectric plants, simple combustion turbine plants and steam injected combustion turbine plants.”
Source: ThinkGeoEnergy.com
