Raser Technologies, Inc., a leader in geothermal power generation, inaugurated late yesterday its first commercial-scale power plant, in Beaver County, Utah, demonstrating the viability of advanced technology that can make geothermal a major price-competitive resource for this country’s energy supply. The plant’s output has already been committed to supply electricity to Anaheim. The company noted that the Beaver County plant, called Thermo, was... Read more..
Raser Technologies, Inc. announced that Prudential Capital Group, an institutional investment division of Prudential Financial, Inc., purchased the permanent debt financing for Raser’s 10 megawatt (MW) Thermo geothermal power project near Beaver, Utah, from the original project financier. The approximately $31 million of non-recourse debt financing helped construct the Thermo geothermal power plant which completed major construction elements last... Read more..
Calpine Corporation announced a settlement with Rosetta Resources, Inc. of all claims related to Calpine’s July 7, 2005 sale of substantially all of its oil and gas business to Rosetta. The settlement provides for a $97 million payment to Calpine from Rosetta and the conveyance of certain residual oil and gas properties by Calpine to Rosetta. This settlement resolves disputes that were the subject of litigation in the U.S. Bankruptcy Court for the... Read more..
Nevada Geothermal Power Inc. announced today the close of US$180 million loan facility on for the construction of the Blue Mountain Phase 1 geothermal power plant with funds and accounts managed by TCW Asset Management Company (TCW). The “Faulkner 1″ geothermal plant will have a capacity of 49.5 MW (gross) and electricity generated will be sold to Nevada Power Company under a 20-year Power Purchase Agreement (PPA). TCW funds will be drawn... Read more..
Nevada Geothermal Power Inc. provide the following update on Phase 1 development activities at its Blue Mountain, Faulkner I, 49.5 MW (gross) renewable energy geothermal power project. A financing facility for the construction of the 49.5 MW Blue Mountain Faulkner I project in Nevada is expected to close shortly. NGP continues to maintain project timelines and terms with Ormat Technologies. NGP has all the necessary permits for initial construction... Read more..