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Jul 08, 2010RAM POWER AND SIERRA GEOTHERMAL POWER ENTER INTO A DEFINITIVE AGREEMENT
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Jul 07, 2010
CanGEA in the Media - “It’s all in the Code”
It's All in the Code
First came a standardized code, then the project database.
The Canadian Geothermal Energy Association (CanGEA) recently released its CanGEA Member Projects Database [3], about five months after it established a code that basically answered the question: what does a megawatt of geothermal energy look like?
"Really, it was the Wild West out there," said Brian Toohey, co-chair of the code committee of the CanGEA. "Especially when you're dealing with a subsurface resource. When you look at a wind turbine or solar, you know what you're getting."
Toohey said that different evaluation methods and reporting standards created uncertainty in the market. And with the geothermal industry having $1 billion in market capitalization on the Toronto Stock Exchange, that wasn't a trivial matter.
"We wanted to make sure that the market understood that one megawatt in Iceland is the same as one megawatt in Canadian British Columbia," Toohey said. The code and project database work in tandem.
The intent is to view the resource similar to the way Canadian federal securities regulators quantify mining or oil and gas reserves, where scandals had occurred.
Right now, the code is the industry's effort at self-regulation. In 2011, acceptance of the standards will be mandatory for CanGEA membership. "We're not trying to be heavy-handed in this. We are looking for feedback, as it's a living document," he said.
Toohey said credit needs to be given to the Australian industry, which had the first standardized reporting system. That resource base is different than many others, as they work with more enhanced geothermal systems. The Canadian resource base is more traditional.
The report, the first of its kind, outlines all the various CanGEA member projects under development around the world. Besides the technical analysis, economic, marketing, environmental, social, legal and regulatory factors are all considered in a site evaluation.
According to the report, CanGEA members are currently working on more than 70 projects under development representing more than 1,400 megawatts, and nearly 2,000 megawatts of installed geothermal capacity.
And as the industry grows as its companies hope, the code and database set the standards.
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The Canadian Geothermal Energy Association has inventoried its members' worldwide resources using the standardized code it is developing.
Source URL: http://www.renewablesbiz.com/article/10/06/its-all-code
To learn more about The Canadian Geothermal Code for Public Reporting register to attend the half day workshop and gain insight and direction from qualified person's in the industry and the Co Chairs of the Canadian Geothermal Code Committee - August 8, 2010. To Register: Click Here
Jun 30, 2010
Register Now! - CanGEA‘s 3rd Annual Geothermal Energy Conference - Special Rates Available
The Canadian Geothermal Energy Association (CanGEA) invites you to attend
CanGEA’s 3rd Annual Conference and Trade Show
August 8 - 10, 2010.
This is an exciting networking event which will welcome delegates both nationally and internationally to explore the Canadian geothermal energy market and is designed to bring together some of the industry’s leading players, policy makers in geothermal.
Last year’s event was the largest gathering of geothermal industry and researchers in Canada in over 20 years, (with this year’s event slated for an even larger attendance). CanGEA has created a forum for Presidents; CEO’s and decisions makers to network with key policy makers and industry providers. With a world class list of speakers and key industry players in attendance, this Conference and Trade Show is a must.
Due to the high levels of expressed interest in geothermal and renewable energy – and relevant activity in the industry i.e. Schlumberger’s acquisition of member GeothermEx, Inc. and the proposed merger between members Sierra Geothermal Power Corp. and Ram Power Inc. (All attendees) and merging of BC Transmission Corp and BC Hydro (BC Hydro – is confirmed as guest speakers & an event sponsor) this event will prove to be both pertinent and insightful.
To Register: Click Here
To View Agenda: Click Here
Reduced rate hotel accommodations available until July 5th for details: Click Here
Limited Time Offer – Special Conference Rates Available
Jun 30, 2010
Nevada Geothermal Power Inc. - Update
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Jun 29, 2010
U.S. GEOTHERMAL ACQUIRES MINERAL OWNERSHIP INTERESTS AT NEAL HOT SPRINGS PROJECT
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Jun 29, 2010
RASER TECHNOLOGIES AND HYUNDAI HEAVY INDUSTRIES ANNOUNCE MOU FOR JOINT DEVELOPMENT
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Jun 29, 2010
Magma Announces Turbine Arrival for Next 50 MW Expansion in Iceland & Provides Drilling Update
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Jun 21, 2010
CanGEA Chair and Founder, Alison Thompson Recipient of the CIRI Belle Mulligan Award for Leadership
Calgary, AB, June 21, 2010- The Canadian Geothermal Energy Association (CanGEA) is pleased to announce that CanGEA Chair and Founder, Alison Thompson has been honoured as the 1st recipient of the Belle Mulligan Award for Leadership in Investor Relations. Alison received this reward Tuesday June 15th at the Canadian Investor Relations Institute’s (CIRI's) 23rd Annual Investor Relations Conference in Ottawa, Ontario.
Belle Mulligan Award for Leadership in Investor Relations
The Belle Mulligan Award for Leadership in Investor Relations is given by CIRI in honour of the late Belle Mulligan to recognize individuals who have shown singular leadership in one or more aspects of the practice of investor relations.
Alison Thompson is the first recipient of this prestigious Award based on her leadership through her involvement in developing the Canadian Geothermal Code for Public Reporting and through her efforts in the application of this Code, making Magma Energy Corp. the world's first Canadian Code-compliant publicly traded geothermal energy company.“There are many people to thank today as one cannot win a Leadership award without a cause to champion and a team to work with” said Alison. “I would like to thank the CanGEA team and its members for their forward thinking stance on what the Geothermal Reporting Code means for investor relations; my colleagues at Magma Energy for their extensive use of a voluntary Geothermal Reporting Code - leading by example and acting as a lighthouse for the industry; the investment community and especially the research analysts who have been early adopters of using the Code to report on geothermal companies.”
"Alison's excellent work and leadership with respect to the Geothermal Code for Public Reporting has set the bar appropriately high for this award." said Tom Enright, CIRI President & CEO.
CanGEA’s Canadian Geothermal Code for Public Reporting was launched in January 2010 and has been embraced by CanGEA developers Magma Energy Corp., Sierra Geothermal Power Corp. Borealis Geothermal and Caldera Geothermal. The Reporting Code provides a minimum set of requirements for the public reporting of Exploration Results, Geothermal Resources and Geothermal Reserves. The Code provides a basis for transparency, consistency and confidence in the public reporting of geothermal information. The Code, a first in Canada, will serve to increase investor confidence and interest in the geothermal energy sector through the standardization of geothermal reporting. The use of the Code will be on a voluntary compliance basis (industry self-regulation) until 2011 when Code compliance will be a mandatory requirement for CanGEA membership
Through the Canadian Geothermal Code Committee (CGCC) there is a listing of Qualified Persons on the CanGEA website that has been certified as “Qualified Persons” under the Geothermal Code for Public Reporting. Pubic reporting is the responsibility of the company and the preparation of the reports must be undertaken by a Qualified Person as certified under the Geothermal Code for Public Reporting. Further information can be found online at www.cangea.ca. A workshop to learn more about the Geothermal Code will be held in conjunction with CanGEA’s Third Annual Geothermal Energy Conference and Trade Show August 8-10th in Vancouver BC www.cangea.ca/events.
About CIRI:
CIRI is a professional, not-for-profit association of executives responsible for communication between public corporations, investors and the financial community. CIRI is dedicated to advancing the stature and credibility of the investor relations profession and the competency of its members. With 600 members, CIRI is the world's second largest society of investor relations professionals. For further information, please visit ciri.org.
About CanGEA:
CanGEA is a national industry association that believes we can provide competitively priced, emissions free, renewable, base-load energy to Canadians and to U.S. export markets. CanGEA works on behalf of our members to facilitate the growth of geothermal power projects and promote publicly listed companies on the Canadian Exchanges.
For further details contact:
Nicole Robson – .(JavaScript must be enabled to view this email address)
Marketing and Membership Director
The Canadian Geothermal Energy Association
The Canadian Geothermal Energy Association (CanGEA) thanks CNW Group for its continued support of our association
Jun 16, 2010
Nevada Geothermal Power’s Faulkner 1 Geothermal Development will be First to Access a Loan Guarantee
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Jun 16, 2010
Magma Energy Update on Chilean and Peruvian Exploration
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