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12 November 2009

Ormat Technologies subsidiary to acquire 30MW of geothermal power

A subsidiary of renewable energy company Ormat Technologies has signed a 20-year power purchase agreement with NV Energy subsidiary Nevada Power Company, to purchase 30MW from the McGinness Hills Geothermal project, which is currently under construction.

9 November 2009

Australian Paralana geothermal project awarded $62.8m (€38.9m)

The Paralana Geothermal energy project, run by Petratherm and joint venture partners Beach Petroleum and TRUenergy Geothermal, has been awarded a grant of around AUS$62.8m (€38.9m) from the Australian Government's Renewable Energy Demonstration Program.

5 November 2009

Terra-Gen closes $240m debt refinancing for 831MW renewables portfolio

Renewable power developer Terra-gen Power has closed a $240m debt facility for its 831MW project portfolio. The facilities are composed of a $215m, 2.5 year senior secured loan and $25m working capital. The loan was used to refinance existing corporate credit and pay expenses and transaction fees, and the working capital will be used to[...]

5 November 2009

Ormat posts strong Q3 growth, re-purchases Nevada geothermal interests from Lehman subsidiary

Geothermal manufacturer and developer Ormat Technologies announced that it had increased third quarter revenues, driven by its power equipment supply segment. Revenues grew to $119.8m from $99.7m in the third quarter of 2008, and profits increased 48 per cent to $23.4m. Ormat said that it was issuing a dividend of $0.6 per share to investors.

4 November 2009

GE grants $50m loan to 220MW geothermal power producer in Indonesia

GE Energy Financial Services, GE's global energy investment arm, has loaned $50m to Indonesia's biggest geothermal power producer, a 220MW emissions-free facility set in a volcanic region of tea and quinine plantations.

3 November 2009

Raser pushes back geothermal funding agreement deadline

Utah energy company Raser Technologies has signed an agreement with the financing partners to extend the completion date on its Thermo No 1 geothermal project. The extension will allow parties to finalise amendments to the financing agreements for the project in anticipation of the company applying for up to $34m federal funding.

2 November 2009

Nevada Geothermal Power awarded DOE grants

Nevada Geothermal Power (NGP) has been awarded two grants through the Department of Energy (DOE) under the American Reinvestment and Recovery Act Geothermal Technologies programme.

30 October 2009

US Department of Energy awards $338m to spur geothermal projects

The US Department of Energy Secretary (DOE) has awarded $338m in Recovery Act funding to the exploration and development of new geothermal fields and research into advanced geothermal technologies.

30 October 2009

Magma Energy receives $10m DOE geothermal grant

Canadian geothermal power company Magma Energy has received a $10m grant from the US Department of Energy (DOE) for two Nevada geothermal projects.

27 October 2009

Magma wins two concessions in Nicaragua

Geothermal power company Magma Energy and Ram Power's wholly owned subsidiary, Polaris Geothermal, have jointly won an international bid for two geothermal concessions known as Volcán Mombacho and Caldera de Apoyo in Nicaragua.

23 October 2009

US Geothermal completes second well at Neal Hot Springs project

U.S. Geothermal, a renewable energy company focused on the production and sale of electricity from geothermal energy, announced today that well it had completed the second full size production well at its Neal Hot Springs project in Eastern Oregon.

23 October 2009

UK offers £6m for deep geothermal exploration projects

The UK Department of Energy and Climate Change has announced the availability of £6m to fund deep geothermal energy exploration projects. Deep geothermal is a form of renewable energy that utilises natural heat

23 October 2009

Nevada Geothermal switches on first phase of Blue Mountain project

Nevada Geothermal Power (NGP) powered up its first geothermal power project, the 49.5MW phase one Blue Mountain Faulkner 1 geothermal power plant in Winnemucca, Nevada.

21 October 2009

Nevada Geothermal issues stock options at $1.16 per share

Nevada Geothermal Power has granted incentive stock options to its directors to purchase 200,000 common shares of the company at an exercise price of approximately $1.16 per share for a term of five years. Common shares shall be subject to a hold period which will expire on 16 February 2010.

19 October 2009

Magma Energy agrees to $21.56m private placement to finance purchase of stake in geothermal company HS Orka

Geothermal energy company Magma Energy has agreed to a private placement of more than 11 million shares at a price of $1.85 per share to raise gross proceeds of $21.56m and net proceeds of $20.78m.

14 October 2009

John Hancock Life Insurance Company provides $95m loan facility for geothermal project

Nevada Geothermal Power has mandated John Hancock Life Insurance Company to be the exclusive debt provider for an up to $95m term loan facility for the Blue Mountain Faulkner 1 geothermal project.

7 October 2009

Raser Technologies moves forward with US geothermal projects

Environmental energy technology company Raser Technologies Inc has recently received final approval from the New Mexico Oil Conservation Division (OCD) for injection of geothermal fluids for its Lightning Dock No. 1 project.

6 October 2009

US geothermal power continues to grow in 2009p

The US showed strong growth in new geothermal power projects continuing through 2009, according to a new report by the Geothermal Energy Association (GEA).

5 October 2009

US Department of Energy launches geothermal research initiative

The US Department of Energy (DoE) has announced a new research initiative to generate geothermal energy from oilfield operations. The DoE's Office of Fossil Energy (FE) and the Office of Energy Efficiency and Renewable Energy (EERE) will collaborate to demonstrate the possibilities of utilising co-produced water from oilfield operations at the Rocky Mountain Oilfield Testing Centre (RMOTC) to generate low temperature geothermal power.

1 October 2009

Australian energy company Hot Rock targets Chilean geothermal market

Australian geothermal provider Hot Rock Limited (HRL) has commenced active involvement in the geothermal energy sector in Chile with the registration of the company's Chilean subsidiary based in Santiago, Chile.

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