Calpine Gets Hammered
Shares of Calpine Corp. (CPN) suffered a greater than 20% loss yesterday and is now down almost another 13% today. All of this was caused by a court ruling stating that they will be unable to use the $395 million in cash they received from the sale of oil and gas fields earlier this year for the purpose of buying natural gas to run its power plants. The dispute stems from the Bank of New York's decision in September when, acting as trustee for Calpine bondholders, it withheld proceeds from Calpine's sale in July of North...
List of Geothermal Stocks
Geothermal stocks are publicly traded companies whose business involves using the earth's heat energy for productive use, such as generating electricity and space and process heat.
This list was last updated on 10/27/2020.
Calpine Corp. (CPN) Bought out. No longer publicly traded.
Climeon AB (CLIME-B.ST)
Contact Energy Limited (CEN.NZ, COENF)
Enel SpA (ENEL.MI, ESOCF)
Energy Development Corporation (EGDCY)
Innergex Renewable Energy Inc. (INE.TO, INGXF)
Mercury NZ Limited (MCY.NZ)
NIBE Industrier AB (NIBE-B.ST, NDRBF)
Ormat (ORA)
Ormat Industries (ORMT.TA)
Polaris Infrastructure Inc. (PIF.TO, RAMPF)
If you know of any geothermal stock that is not listed here and should be, please let us know by leaving a comment. Also for stocks in the...
Nevada Geothermal Power Inc. Commences Blue Mountain Development Drilling
Nevada Geothermal Power Inc. (NGLPF) announced that it has initiated development drilling at Blue Mountain Nevada. Production test data from the wells will be used to complete a feasibility study for an initial 30 MW geothermal power plant. In the initial program, four 13-inch diameter production wells will be drilled to 4000 feet (1200 metres) into the moderate temperature (300-330 degrees C) geothermal resource intersected in previous test holes. Permits have been obtained and drill pads are under construction. A water well rig will be used to drill the top 800 feet of each well and to...
Geothermal Should Ride The Duck Curve
Meg Cichon As the geothermal industry limps along year after year, a utility insider strongly suggests that it changes its tactics. For years the geothermal industry has relentlessly boasted that it is a baseload resource, meaning it provides stable power similar to a coal or natural gas plant, except without all of those pesky carbon emissions. While upfront costs to develop a plant are higher than other renewable sources, geothermal leaders say that this baseload aspect makes it a more attractive resource in the long run since the grid needs more stable power as increasing amounts of...
Waterfurnace 7 Series vs. Climatemaster Trilogy Geothermal Heat Pumps: The Best of the Best
UPDATE: I just looked into the 7 Series vs the Trilogy 40 in more detail here and came to a slightly different conclusion. Tom Konrad CFA Geothermal heat pump diagram via Bigstock Waterfurnace Renewable Energy (TSX:WFI, OTC:WFIFF) launched its new highly efficient 7 Series geothermal heat pumps (GHP) today. The 7 Series commercial release beats Climatemaster’s (a division of LSB Industries (NYSE:LXU)) Trilogy 40 as the first commercially available GHP with a variable speed compressor. The Trilogy 40 is currently available as part of a pilot program, and is expected to be commercially available...
Colorado Voters Approve Amendment 37
Colorado voters have approved an amendment requiring utilities to get part of their electricity from the sun, wind or plant and animal waste. The amendment requires the state's seven largest utilities to get a portion of their retail electricity sales from renewables, beginning with 3 percent in 2007 and climbing to 10 percent by 2015. Four percent of the renewables should be solar sources.
Will The Recovery Act Trigger Alt Energy IPOs?
Charles MorandIt goes without saying that the alt energy IPO market has been rather quiet over the past few months. Could this be about to change? Will the slew of alt energy and cleatech incentive programs announced under the Recovery Act, coupled with a return of investors' risk appetite, be enough to convince firms to start going public again? On Monday, I had a chat with Robert Peterman, who handles cleantech for the TMX Group, the owner of the Toronto Stock Exchange and of the TSX Venture Exchange. In the past few years, Toronto has attracted a number...
A push for renewable energy in Colorado
Colorado is the first state in the nation to place renewable energy on its ballots, thanks in part to grassroots support from Summit County. On Nov. 2, Colorado voters will decide whether to require the state's seven largest utilities to generate 10 percent of their electricity from environmentally-friendly sources like wind power by 2015.
Geothermal Tie-up
Ormat Technologies (ORA: NYSE) is buying U.S. Geothermal (HTM: NYSE) for $5.45 per share in cash. The offer represents a 29% premium to the HTM closing price the day prior to the announcement. The shares had been in a steady decline over the past several months, hitting a 52-week low of $3.11 earlier in January 2018. So while the offer price pales in comparison to the U.S. Geothermal’s all-time high stock price of $28.68 way back in October 2007, shareholders may be feeling a warm breeze coming off Ormat’s cash.
Should Ormat shareholders be as thrilled as the company ponies up $110 million...
Three Top Geothermal E&P Companies
Tom Konrad CFA
Last week, I was on a panel at the Inside Commodities Conference, and spent some time talking with Tyler Mordy, director of research at Hahn Investment. He's a top-down analyst (and CFA Charter holder) who had recently grown enthusiastic about Alternative Energy in general because the sector is so beaten down.
We agreed that the most-beaten down sector of alternative is geothermal power stocks, which Tyler finds frustrating because Hahn works with managed ETF portfolios, and there simply is no geothermal ETF. Nor is there likely to be, since one publicly traded company dominates the industry (Ormat Technologies...
Dispatchable Geothermal Plant May Shape Future Deals
Meg Cichon A fully dispatchable geothermal plant in Hawaii may influence power contracts in states like California that have a significant amount of energy but dwindling capacity with intermittent renewables. The geothermal industry has been struggling with the same barriers to development for years. It's a frustrating situation: while geothermal is a reliable, steady baseload form of renewable energy, its development expenses overshadow its obvious long-term benefits. Meanwhile, other intermittent renewable sources such as wind and solar are able to take advantage – and control – of state renewable portfolio standard (RPS) policies...
Geothermal Stocks Warming Up
Tom Konrad CFA Geothermal Plant at The Geysers. Photo Source: Calpine (CPN) After a couple years of chilly investor sentiment, geothermal stocks are starting to warm up. The sector has been so beaten down that the small exploration and production players seem to have lost what little following they had, and so recent good news has gone mostly unnoticed. Last week, industry leader Ormat Technologies Inc. (NYSE:ORA) set the stage by beating analyst expectations for both earnings and revenue per share in the third quarter, and announcing a deal to buy a...
Kerry’s High-Wattage Energy Plan
BusinessWeek.com discusses John Kerry's plan to increase alternative energy usage for the country. John Kerry's blueprint for energy independence doesn't suffer from lack of ambition. In early August, he'll unveil an energy plan that he says can break America's addiction to foreign oil, revitalize the U.S. auto industry, help farmers and coal miners, fight global warming, and create jobs all for just $2 billion per year. "We can live in an America that is energy independent," Kerry promises.
Geothermal in South America: Major Prospects for Development
Meg Cichon Geothermal well photo via Bigstock With climate threats and increased energy demand, South American countries are set to develop their vast geothermal potential. Will developers be able to acquire investment and favorable policy? If any part of the world should be concerned about the effects of climate change, it is South America. Despite contributing some of the lowest emissions globally, many of the countries in the region are As South America’s population is expected to rise 72% by 2035, the impact of climate...
Ormat Technologies Secures $25 Million Contract for Geothermal Power Plant in the Azores Islands
Ormat Technologies (ORA) announced that two of its subsidiaries have entered into Supply and Engineering Procurement contracts for a new geothermal power plant to be constructed on Sao Miguel Island in the Azores. The contracts are for a total of 19,151,422 Euro (approximately $25 million), with construction on the power plant expected to be completed within 19 months from the contract date.
Nevada Geothermal Power Inc. Acquires Third Nevada Geothermal Project In Prolific ‘Corridor Of Heat’
Nevada Geothermal Power Inc. (NGLPF) announced today that it has acquired 7 square miles of private land and has applied for a one section federal geothermal lease for a total land area of 8 square miles (22 square kilometers) south and east of Black Warrior Peak, Washoe County, Nevada. The leases are on private land and are subject to a 3.5% royalty on gross revenue from electricity sales, however, NGP can purchase the royalty for US$1,000,000. Leases include surface and water rights.
