Geothermal power is emerging as a significant player in the alternative energy space, with operations cropping up around the world and high hopes for powering significant numbers of homes and businesses as an alternative to traditional electricity. But as with all prospects in alternative energy, geothermal power is not without its downside. Currently, a great deal of effort is being poured into determining just how damaging geothermal drilling is – or if it even exists. … Read the rest
Category Archives: Geothermal Energy
Raser Technologies (RZ) Loan Guarantee Cleared By DOE
Raser Technologies just announced that its loan guarantee application has been cleared by the DOE and can move on to the next step in the due diligence process. If approved, the loan guarantees would finance 80% of a geothermal project near Raser’s existing Beaver Co facility, allowing the company to expand its geothermal capacity by 42 MW.
In a press release, Raser CEO Brent M. Cook said “This announcement from the DOE demonstrates that … Read the rest
Obama At Nellis Touts Solar, Geothermal (Video)
Prez Obama spoke at Nellis Air Force base today discussing the importance of renewable energy and announcing funding efforts for solar and geothermal. Nellis Air Force base is home to the largest solar installation in the Western hemisphere and provides 25% of the electricity for the 12000 who live and work at the base, saving the military about $1 million a year.
Here are some highlights of the speech..
“America produces less than 3 percent … Read the rest
US Geothermal (HTM) Surges 25% On DOE Loan Program Review At Neal Springs Plant
US Geothermal (HTM) is surging 25% today and getting back above a buck on news the company’s Neal Springs geothermal plant has been approved for a US Department of Energy due diligence review for an $85 million loan as part of the Energy Policy Act of 2005. The DOE loan is expected to provide about 80% of the total estimated cost of the binary cycle geothermal plant which the company is expected to begin construction … Read the rest
Raser Technologies (RZ) Receives Geothermal Power Plant Of The Year Award
Raser Technologies just announced that it has received the Geothermal Power Plant of the Year Award at the annual ELECTRIC POWER Conference. The award recognized Raser’s first geothermal plant for its "key technologies and developments for power generation plants," according to a company press release.
"We are honored to be recognized by the industry and our peers for our efforts and success in building an exemplary power plant. We are continuing to develop our … Read the rest
Ormat (ORA) Opportunity: Indonesia’s Geothermal Boom
By Sam Hopkins of GreenChipStocks.com
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It’s a geological bonanza for clean energy investors, yet no one’s talking about it.
With its population spread out over more than 17,000 islands, many Indonesians live in cities, yet some are in areas so remote that electricity access is almost zero.
Indonesia is also the only OPEC member in Southeast Asia, but in recent years it’s actually become a net importer of … Read the rest
Raser Technologies (RZ) Will Begin Booking Geothermal Revenues Next Quarter
Raser Technologies (RZ) reported earnings this morning a bit better than expectations with a loss of .10/share vs expectations of a .12/loss. The financial results this quarter aren’t all that important in my opinion since the company won’t begin booking revenues for its Hatch plant until next quarter. Here are some comments from the CEO..
“We are now delivering clean, renewable power from our Hatch geothermal power plant to the City of Anaheim as part … Read the rest
Geothermal Leader Ormat Technologies (ORA) Surges On Great Quarter
Ormat Technologies (ORA), the geothermal 800lb gorilla, reported great earnings results this morning beating EPS estimates by .07/share and 33% over the year ago quarter. Revenues surged 44% over the year ago quarter and beat estimates by $11 million at $99.9 million. This was a very impressive quarter. I’ve been wanting to get in on a pull back but it has yet to do so. The stock has now nearly doubled off the March low … Read the rest
Raser’s (RZ) New Low Temperature Geothermal Plant Online in Utah
Okay, so this isn’t quite as sexy as a 100 MPG hybrid hummer, but Raser just announced that its new Hatch Geothermal Power Plant is up and running in Utah. Normally, geothermal plants take years to start production, but Raser took only 5 months to power up this plant.
How did they do it? Basically, the plant uses an organic Rankine cycle (ORC), with parts modified from industrial air conditioners. Using off-the-shelf, mass produced components … Read the rest
US Geothermal (HTM): Insider Buying, Bullish Chart
I’ve been going through some green stock charts and came across US Geothermal (HTM), a speculative geothermal play with no profits yet but promising in the geothermal energy space considering the US is expected to double geothermal capacity within 5 years. On Oct 14th, the company won a DOE grant for its Raft River project in Idaho, which prompted the CEO, COO and CFO to buy shares in the company just a few days later. … Read the rest