Nevada Geothermal Power Inc.: Drilling Resumes at Blue Mountain Geothermal Site

Nevada Geothermal Power Inc. (NGLPF) reported that the next phase of development is underway at its Blue Mountain Geothermal site, with drilling to deepen the Deep Blue 2 (DB2) well by an additional 700 metres (2,300 feet). "We are investigating a potential deep - hotter production zone that would make Blue Mountain's economics extremely robust," said Brian Fairbank President and CEO. "A deep high temperature resource would allow us to use more efficient and cost effective 'dual-flash' technology similar to the 60MW power plant at the Dixie Valley high temperature field in Nevada. A Monte Carlo simulation...

Drill for Geothermal Power in Developing Countries and on King Street

Tom Konrad CFA Hezy Ram Geothermal industry veteran Hezy Ram has worked in the industry for over three decades.  His career began with 28 years of experience at Ormat (ORA), where he was Executive Vice President of Business Development, after which he founded Ram Power Corp. (RPG.TO/RAMPF.PK) in 2009.  In February, he resigned as CEO of Ram Power shortly after the company warned of significant delays and cost overruns at a key Nicaraguan project, a move he says was motivated by irreconcilable differences with other board members and major shareholders regarding the company's strategy.  Today,...

$3 Billion For Cleantech & Alt Energy

Charles Morand The DOE made public earlier today the amount of money that will awarded to clean power projects in lieu of the usual tax breaks: $3 billion. This will allow project proponents to receive a direct cash grant now instead of a Production Tax Credit or an Investment Tax Credit later on. The guidance document notes the following: "Section 1603 of the Act’s tax title, the American Recovery and Reinvestment Tax Act, appropriates funds for payments to persons who place in service specified energy property during 2009 or 2010 or after 2010 if construction began...

Ormat’s Enhanced Geothermal Project Now On Line

Meg Cichon   Ormat's 21.8 megawatt Desert Peak 2 plant in Nevada. Photo Source: Ormat A major challenge for the geothermal industry is reducing the risk of its exploration and drilling phase – there is a 40-60 percent chance that each $5-7 million well is ultimately deemed unproductive. But that statistic may soon change. In what many in the industry are calling a game-changer, the nation's first enhanced geothermal system (EGS) to supply electricity to the grid came online last week. ORMAT's Desert Peak 2 project is producing an...

Newsweek Special Report

"Experts generally agree that our current reliance on fossil fuels is unsustainable. Already oil is near $50 per barrel, and the great millions of Chinese and Indians destined to take to the road in the next decades have not yet gotten behind the wheel." This week Newsweek has written several special reports about alternative energy in all its forms. All of these reports can be found at the following link.

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...

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,...

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...

Money Is Flowing Into Alt Energy Again, But We Are Not Out Of The...

Charles MorandIt seems as though the darkest clouds are finally dissipating over alt energy's financing horizon. Over the past few weeks, money has started flowing into the sector again, as evidenced by a number of recent deal announcements: On June 9, I reported on the upcoming IPO for Magma Energy Corp., a geothermal exploration company. The IPO's size will be upped from an initial C$50 MM to C$100 MM, a sign of increased market appetite  SunPower Corp. raised $418 MM in early May through a share and debt offering, and recently announced it had reached a $100...

Clean Energy Stocks Shopping List: Landfill Gas and Geothermal

Stocks seem expensive now, but that may not last.  Here are two Landfill Gas stocks and three Geothermal stocks I'm hoping to buy if the market falters. Tom Konrad, Ph.D., CFA This article continues my Clean Energy Stocks Shopping List series.  So far I've brought you: Five clean transport stocks, I looked at why it makes sense to wait for better prices, Five Energy Efficiency stocks (always my favorite sector), and Five Electric Transmission Stocks. This article takes a look at two of the most economical clean electricity generation technologies, landfill gas and geothermal. Kilowatts from...

Oil Money Needed for Geothermal Projects

By Dana Blankenhorn Despite America's leadership in geothermal the industry remains in the “and” category. As in, “solar, wind, tidal, biofuels AND geothermal.” It's an afterthought. (Picture from Evergreen State University.) Why are geothermal companies having to organize politically to gain crumbs from the capital table? The answer is pretty obvious, but no one seems willing to state it plainly. The oil industry is holding back. A recent Time Magazine article on renewables and oil investment makes it pretty plain. Total's bought into solar, Shell and BP into biofuels. Chile's state oil-and-gas company sold-out its geothermal interests...

Just Sold: Raser Technologies (RZ)

Raser Technologies (NYSE:RZ) did not get the hoped-for DOE loan guarantee.   The company still has good long term prospects, but the short term upside chances are much weaker, prompting me to sell in the hope of buying back in after a general market sell-off. Raser Technologies (NYSE:RZ) dropped from $2.10 to $1.95 on September 1st, prompting a regular reader to leave a comment asking me if it was time to sell on the original Raser article. (Because he's a regular, he knows my policy of preferring to answer questions posed as comments on the blog to email comments: At...

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.

Nevada Geothermal Power Inc.: Geophysical Survey completed at Pumpernickel Geothermal Project, Nevada

Nevada Geothermal Power Inc. (NGLPF) reported the completion of a geophysical survey at the Pumpernickel geothermal project in Nevada. The project is managed by Nevada Geothermal Power Company (a subsidiary of NGP), as Exploration Manager. The final report is pending, however a preliminary assessment of the data shows that the survey successfully defined the contact between the valley fill and the basement rocks, and most importantly it established the positions of valley faults and their relationship to the geothermal system. The data showed a good correlation with the 2005 resistivity data. The combined data will aid significantly...

U.S. Geothermal, Inc (AMEX: HTM)

US Geothermal, Inc. (AMEX:HTM) ) is one of only two pure-play geothermal power companies traded on US exchanges.  The other is Ormat (NYSE:ORA), a vertically integrated company widely considered to be the industry leader.  As baseload, extremely reliable power, Geothermal fits easily into utilities existing grids, making it a popular source of green power, especially with utilities uncomfortable with the intermittent and difficult to predict nature of wind and solar.   Unlike wind and solar, the potential resource for geothermal power is quite small relative to electricity demand. At least until Enhanced Geothermal Systems (EGS) technology is commercialized,...

The Rodney Dangerfield of Cleantech

David Gold Wind turbines stand tall and mesmerize with their motion. Solar cells bask in the sparkling sun.  Meanwhile, hidden down in the dark dirty underworld, a compelling technology sits quietly and gets no respect.  Once installed it largely goes unseen and, it seems, it’s equally invisible in the world of clean technology press, venture funding and government R&D funding.  Yet this technology provides some of the most intriguing economic returns available for reducing a building’s net energy consumption and I would welcome the right opportunity to fund an exciting business in this category. What is this Rodney Dangerfield...
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