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18 January 2010

Ambata Capital Partners invests in Reykjavik Geothermal

Geothermal developer Reykjavik Geothermal has entered into a partnership with Ambata Capital Partners to explore, develop and operate utility scale geothermal power generation, focusing on emerging markets.

11 January 2010

US announces $2.3bn in new clean energy manufacturing tax credits

US President Barack Obama has announced awardees of the clean energy manufacturing tax credit in the American Recovery and Reinvestment Act.

8 January 2010

Former TDX Power CEO to lead US geothermal company Raser Technologies

NYSE-listed geothermal-focused renewable energy company Raser Technologies has appointed Nicholas Goodman as its CEO.

8 January 2010

Nevada Geothermal Power to increase production at Blue Mountain Faulkner 1 geothermal plant

Nevada Geothermal Power has completed two new deep injection wells that, when connected, the company said will enable the Faulkner 1 plant to operate at approximately 40MW of net generation capacity. Two or more additional wells will be drilled as part of the current programme to further optimise production from the existing plant.

7 January 2010

Magma Energy’s geothermal Soda Lake geothermal well passes latest test

Following a field optimisation programme, geothermal company Magma Energy Corporation has reported successful flow testing of its 3MW Soda Lake production well 45A-33, which was drilled in June 2009.

4 January 2010

Ram Power closes $77m debt financing

US renewable energy company Ram Power, through its wholly owned subsidiary Polaris Energy Nicaragua (PENSA), has closed its $77m credit facility.

23 December 2009

Nevada Geothermal Power’s Faulkner 1 plant power output climbs

US based renewable energy developer Nevada Geothermal Power has increased production from its flagship Faulkner 1 power plant and reports positive interim results from its current output-optimisation drilling programme.

16 December 2009

US geothermal power to grow in 2010, according to GEA

US industry body Geothermal Energy Association (GEA) has predicted that the number of US states with installed geothermal power capacity will reach double figures by 2010. The association said that new projects were expected to come onstream in four to eight states, and that the DOE will recognise near-term potential of 20GW.

15 December 2009

U.S. Geothermal signs Neal Hot Springs agreement with Idaho Power

U.S. Geothermal, through its wholly owned subsidiary, USG Oregon, has signed a power purchase agreement (PPA) with Idaho Power Company, a subsidiary of energy and technology group Idacorp.

15 December 2009

Magma Energy to acquire 32 per cent of Icelandic geothermal company HS Orka

Magma Energy has closed a previously announced agreement to acquire 32.32 per cent of Icelandic geothermal company HS Orka for ISK3.7bn ($29.5m) and three bonds totalling approximately $70m.

9 December 2009

Raser and Evergreen agree to finance 100MW of geothermal power

US green energy company Raser Technologies has reached an agreement with renewable energy power plant investment fund Evergreen Clean Energy for the structuring and financing of well field development for up to 100MW of geothermal power projects.

9 December 2009

Underground technology could meet a third of UK’s renewable heat requirementsp

A renewable technology that generates heat from below the ground could produce a third of the UK's renewable heat requirements by 2020, according to a report by the UK Environment Agency.

8 December 2009

Raser reaches agreement with Thermo No 1 financiers, seeking $33m in stimulus funding

US energy company Raser technologies has reached an agreement with its financiers over its Thermo No 1 geothermal plant. After nearly three months of negotiations and extensions, the new financing arrangements will allow the company to apply for a $33m American Recovery and Reinvestment Act energy stimulus grant, which will allow it to become the sole owner of the plant.

3 December 2009

Trust Company West takes $6.4m stake in Nevada Geothermal

US investment management firm Trust Company West has taken a $6.4m stake in renewable power developer Nevada Geothermal. TCW are to purchase 4.5 million common shares at CAN$1.50 a share for up to five years.

3 December 2009

Further delays for Raser geothermal plant

US energy company Raser Technologies has announced further delays on the financing agreements for its Thermo No 1 geothermal plant. The company said it is attempting to amend the framework of its financing agreements in order to be eligible for energy tax credits under the American Recovery and Reinvestment Act stimulus initiative. Once the agreements are renegotiated, Raser says that it will apply for a grant of $30-$34m.

1 December 2009

Nevada Geothermal Power receives $58m federal grant

Nevada Geothermal Power has received a $57.9m federal grant through its subsidiary, NGP Blue Mountain 1. The grant relates to the successful completion of the Faulkner 1 geothermal plant.

30 November 2009

Nevada Geothermal repays $30m of debt facility

Nevada Geothermal Power has repaid $30m of its loan from TCW Bank Loan Group. The balance to pay the loan down to approximately $70m is expected to come from a senior debt financing planned with John Hancock Life Insurance Company, anticipated to close in January.

20 November 2009

GE awarded $2m to develop geothermal sensor

GE has been awarded $2m to develop a sensor that can operate at the high temperatures and pressures needed for enhanced geothermal systems as part of an $11m grant from the US Department of Energy (DOE) to enhance geothermal power generation in the US.

16 November 2009

Geothermal energy company Magma loses ground in first financial quarter

Geothermal energy company Magma Energy reported a net loss of nearly $2.7m or ($0.01) per share for the first financial quarter ending 30 September 2009, since its inception in 2008. The company's net loss in the comparative period of 2008 was $829,860.

13 November 2009

Nevada Geothermal Power awarded $57.9m in federal grant for Blue Mountain Faulkner One

The US Department of the Treasury has approved Nevada Geothermal Power's application of $57.9m for the Blue Mountain Faulkner One geothermal power plant, according to a statement by the company.

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