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...
Geothermal Companies Receive Cost Sharing Grants from DOE
Tom Konrad CFA My entire portfolio of Geothermal companies received DOE cost-sharing grants Friday. Here's a quick run-down: Nevada Geothermal (NGLPF.PK, NGP.V) received $1.7M for its Crump Geyser project, and $1.6M for its Black Warrior project. NGP also celebrated completion of its Blue Mountain Faulkner 1 plant the same day. US Geothermal (HTM) received $3.77M for it San Emidio project. Sierra Geothermal (SRAGF.PK, SRA.V) received $10M for exploration at its Alum and Silver Peak projects. Ormat (ORA) received two grants, and is likely to benefit from other grants since geothermal exploration companies such as US Geothermal contract with...
US Geothermal: Wringing Profits From Hot Rocks
by Debra Fiakas CFA Last week I spent the better part of a day listening to presentations of energy companies at the Wall Street Analyst Forum in New York. Although I had heard the management of US Geothermal (HTM: NYSE) tell the company’s story before, I was impressed to hear about the progress the company has made in squeezing profits from electricity produced with turbines run by underground steam. Management called it gratifying! The company reported $31 million in sales in the year 2014, delivering $14.9 million in net income to the bottom line. That is something...
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...
New York to rely more on renewable power
New York will dramatically boost its reliance on renewable energy sources like wind and water over the next nine years under a policy approved by state regulators Wednesday. Clean energy advocates and state officials said the action by the state Public Service Commission places New York among the leaders nationwide in the development of renewable energy. It comes 20 months after Gov. George Pataki first called for a statewide standard that would encourage the production of environmentally friendly energy.
Book Review: Investment Opportunities for a Low Carbon World (Geothermal + Efficiency)
Charles Morand Last Thursday, I reviewed two chapters from the recently published book "Investment Opportunities for a Low Carbon World"*. This post reviews two more. Geothermal Energy Alexander Richter, Glitnir Bank (now Íslandsbanki) Geothermal is one of the most interesting forms of clean power generation there is. As noted by the author, the most convincing argument for geothermal electricity is the fact that it operates at capacity factors in the upper 90s. This makes it the only renewable technology suitable for baseload power with the exception of dam-based (i.e. large-scale) hydro. However, as...
Ormat Breaks Ground on New Geothermal Power Plant
Ormat Technologies (ORA) broke ground today on the first geothermal electric generating plant to be built at Steamboat, Nevada since 1991. Known as the Galena Geothermal Project, when completed the plant will be added to the existing Steamboat geothermal plants and bring the total output from this geothermal complex to 44 megawatts of electricity through a process that extracts and re-injects the hot geothermal waters from the ground. One megawatt of electricity can supply energy up to approximately 1,000 typical homes in the area.
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...
Can the Geothermal Industry Overcome Challenges to Raising Capital?
By Jane Pater Salmon, Navigant Consulting Geothermal energy presents baseload clean energy at a lower cost than many other renewable energy alternatives. Despite this compelling value proposition, long development horizons and the risks associated with exploration and drilling activities present hurdles to developing the country's rich geothermal potential. Financing projects that use conventional geothermal technology remains challenging in the uncertain economic environment. In the past year, geothermal project developers used alternative strategies to overcome three common challenges to geothermal project finance. While the challenges for raising capital at the project level are consistent with those faced in...
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...
Geothermal Heat Pumps: The Next Generation
Tom Konrad CFA The most efficient way to heat and cool a building just got more efficient. Geothermal heat pump diagram via Bigstock Climatemaster, a division of LSB Industries (NYSE:LXU), recently announced that their new Trilogy 40 geothermal heat pump (GHP) had been certified by the Air Conditioning, Heating, and Refrigeration Institute (AHRI) to exceed 40 Energy Efficiency Ratio (EER) under ground loop conditions. EER is the ratio of effective cooling (heat removed) to the energy used, at maximal load, and is the standard...
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.
Geothermal Power: Business in a Tough Neighborhood
Geothermal power producers use Earth’s internal heat to power electrical generators. It is the quintessential renewable energy source. Most geothermal plants are located adjacent to underground pockets of super hot water. Developers look for locations where these thermal reservoirs are near the earth’s surface, providing availability of the super hot water at a reasonable cost. Unfortunately, those locations are often in tough neighborhoods.
Ring of Fire
The overwhelming majority (85%) of current geothermal power installations in the world are located along the Ring of Fire that circumvents the Pacific Ocean. More a horseshoe than a circle, the Ring of Fire is a geographic anomaly that is...
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.
Ormat Technologies Receives the End Customer Final Approval for $16.9 Million Purchase Order for...
Ormat Technologies (ORA) announced that the customer rendered final approval of the Purchase Order valued at approximately $16.9 million, for the supply of 102 remote power units for Communications and Cathodic Protection along a pipeline on the Sakhalin Island in the Russian Federation, as described in the press release dated December 9, 2004, and the Purchase Order became a definitive agreement.
Outlook for Geothermal Energy Stocks in 2011
Tom Konrad CFA My take-aways from the GEA Finance Forum After a long time lost in the proverbial desert of high capital costs and few financiers willing to step up, a number of geothermal companies made breakthroughs last fall. The Department of Energy (DOE) loan guarantees for geothermal power development began to come through, and financiers were beginning to step up. Nevada Geothermal Power (NGLPF.OB) announced a deal with Ormat (ORA) in which Ormat will earn a share of Nevada Geothermal's Crump Geyser property by paying for and financing most of the development costs,...
