Leading Stories, Releases, Solicitations
- California Senate Leader Proposes 100% Renewable Power Production Goal
- Legislators in Nevada Propose 80% Renewable Power Goal
- Governor Sandoval Names Chairman of Energy Choice Committee
- Study Finds States Scrambling to Retain Baseload Power, Natural Gas Generation Also At Risk
- Bipartisan Group of U.S Senators Re-introduce Legislation to Streamline Permitting for Renewable Energy Projects
- St Kitts-Nevis moves to finalize geothermal agreement
- $45M Towards Geothermal Project [Domenica]
- S. Geothermal Inc. Provides Update on Development and Expansion Projects
- Alterra Power Announces Completion of Iceland Deep Drilling Program
- PannErgy Plc’s subsidiary has signed a concession agreement in relation to the area of Győr [Hungary]
- EOI: Geothermal Project Coordination on consultancy basis, Grenada, Caribbean
- Request for Expressions of Interest [Turkey]
- Call for Papers – 2017 GRC Annual Meeting, Salt Lake City, Oct. 1-4, 2017
Leading Stories, Releases, Solicitations
California Senate Leader Proposes 100% Renewable Power Production Goal
California Senate President Kevin De León has introduced a bill (SB 584) to increase the California RPS Program to 100 percent by 2045, with a 2025 target of 50 percent (50 percent by December 31, 2025, and 100 percent by December 31, 2045).
The legislation is a boost for the future of geothermal and other renewables in the state. It lays out the benefits of achieving this goal as:
(b) Achieving the renewables portfolio standard through the procurement of various electricity products from eligible renewable energy resources is intended to provide unique benefits to California, including all of the following, each of which independently justifies the program:
(1) Displacing fossil fuel consumption within the state.
(2) Adding new electrical generating facilities in the transmission network within the Western Electricity Coordinating Council service area.
(3) Reducing air pollution, particularly criteria pollutant emissions and toxic air contaminants, in the state.
(4) Meeting the state’s climate change goals by reducing emissions of greenhouse gases associated with electrical generation.
(5) Promoting stable retail rates for electric service.
(6) Meeting the state’s need for a diversified and balanced energy generation portfolio.
(7) Assistance with meeting the state’s resource adequacy requirements.
(8) Contributing to the safe and reliable operation of the electrical grid, including providing predictable electrical supply, voltage support, lower line losses, and congestion relief.
(9) Implementing the state’s transmission and land use planning activities related to development of eligible renewable energy resources.
The new legislation also provides that “This electricity may be generated anywhere in the interconnected grid that includes many states, and areas of both Canada and Mexico.”
For full text of the bill: https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201720180SB584
Legislators in Nevada Propose 80% Renewable Power Goal
A group of Nevada Assembly Members and Senators has proposed legislation to increase the amount of energy required in the state from renewable resources, like solar, geothermal and wind – AB 206. Original sponsors are Assemblymen Brooks, Frierson, Yeager, McCurdy, Watkins, and Fumo; and Senators Cancela, Parks and Spearman.
The legislation would increase the Renewable Portfolio Standard, which governs the percentage of power utilities get from clean energy and energy efficiency, to 50 percent by 2030, with a path to 80 percent renewables by 2040. Nevada business leaders said the legislation “would set the state up to become a regional and national clean energy leader.”
A copy of the legislation is available at: https://www.leg.state.nv.us/Session/79th2017/Bills/AB/AB206.pdf
Governor Sandoval Names Chairman of Energy Choice Committee
CARSON CITY, NV Governor Brian Sandoval today announced he has appointed Lieutenant Governor Mark Hutchison to serve as Chairman of the Governor’s Committee on Energy Choice. The Governor announced the body’s creation during his biennial State of the State address in January.
On November 8, 2016, the voters of Nevada approved Ballot Question 3: The Energy Choice Initiative, which would amend the Nevada Constitution if voters approve the Initiative again in the 2018 general election. Nevada voters supported a State policy that “electricity markets be open and competitive so that all electricity customers are afforded meaningful choice among different providers, and that economic and regulatory burdens be minimized in order to promote competition and choices in the electric energy market.”
“Stability in our energy market is crucial for all Nevadans. A second passage of this Initiative will change the way Nevadans consume energy from flipping on hallway lights and ensuring power in our hospitals to illuminating the neon lights of the Las Vegas Strip,” said Governor Brian Sandoval. “By bringing together these stakeholders, we can properly prepare for what could be a major utility transformation. The Lieutenant Governor is the right person to navigate this complex discussion and I am confident in his ability to bring forward the best recommendations to secure the promise and potential of the Silver State’s energy future.”
“I am honored to be appointed Chairman of the Governor’s Committee on Energy Choice. Educating Nevadans about the issues and mechanisms surrounding the deregulation of Nevada’s energy markets is of paramount importance,” said Lieutenant Governor Mark Hutchison. “I look forward to working with the committee to develop a meaningful and comprehensive framework to share with Nevadans before the ballot initiative returns for the voters consideration in 2018.”
During his State of the State address, Governor Sandoval stated, “With the overwhelming passage of Question 3 last year, it is likely Nevadans will have energy choice in the future. Therefore, I will create by Executive Order, the Governor’s Committee on Energy Choice. This Committee will help prepare us for the complicated changes that lay ahead if Nevadans approve energy choice. It will include members of the Legislature, major customers, organized labor, renewable energy experts, senior citizens representatives, and others. I will ask that they prepare a transition plan enabling us to enter the new markets by 2023.”
The full Committee will be announced in the near future.
EO# 2017-03 Order Establishing the Governor’s Committee on Energy Choice
Study Finds States Scrambling to Retain Baseload Power, Natural Gas Generation Also At Risk
February 13, 2017 Source: PR Newswire
DENVER, Feb. 13, 2017 /PRNewswire-USNewswire/ — A study released today found states around the country are continuing to advance innovative strategies aimed at keeping coal and nuclear power plants online in organized markets despite stiff challenges in federal court and at the Federal Energy Regulatory Commission.
Natural gas-fired power plants are also at risk of closure and bankruptcy in organized markets, the study found. “This nascent and largely unpublicized development suggests gas-fired generation is facing the same pressure as the much-beleaguered coal and nuclear facilities, perhaps with more draconian implications for consumers and, especially, organized markets,” the study added. “When baseloads plants cannot cover their fixed costs, all traditional baseload generation sources are at risk,” the study noted.
The concerns over natural gas are prompted by sales of natural-gas fired assets in the Midwest and by developments in California indicating gas-fired generators are becoming uneconomic in the California ISO. These developments include the bankruptcy filing by generator La Paloma and plant closures by merchant generators. “Expect increasing anxiety from the states and generators about regulatory and reliability risks,” the study warned.
The white paper by Raymond L. Gifford, a former chairman of the Colorado Public Utilities Commission, and Matthew S. Larson, partners in the law firm of Wilkinson Barker Knauer LLP’s Denver office, questioned whether the structure of organized markets shares the blame for the exit of baseload capacity. “Policymakers support the notion of organized electricity markets yet also want to preordain the outcomes, such as low electricity prices, reliability and green energy,” the study said. “The organized markets have thus become Frankenmarkets,” the study said.
The study describes a compendium of state efforts, or ‘around market’ solutions, to preserve baseload power. States in organized markets recently developed a single ‘around market’ solution “template” to prevent the loss of nuclear generation. First New York, through an administrative approach, then Illinois with legislation, adopted Zero Emission Credits of billions of dollars to resuscitate nuclear plants in their states. Challenges to both state’s ZECs are pending at the Federal Energy Regulatory Commission. Yet Connecticut, New Jersey, Pennsylvania are also considering the ZEC “template” to ensure survival of their nuclear plants, the study said.
Ohio remains at the front of the baseload power exit trend in organized electricity markets. Utilities in the Buckeye State have pushed the ultimate ‘around market’ solution, calling for reregulation of the market and the end of deregulation altogether. Success in Ohio could prove a game change. “This is a potential turning point, because when it comes to re-regulation, it is all about who goes first,” the study emphasized.
The study also suggested a diverse portfolio standard could emerge as the next ‘around market’ solution for states, a “middle way” between re-regulation and markets. Through a DPS, a state could mandate that minimum amounts of certain fuels be kept online, based on the availability and cost of fuels. The DPS could also serve as a technology-forcing initiative, encouraging the development of carbon capture and sequestration, the study said.
“The coming months are crucial in the market design and baseload power exit debate for several reasons,” the study concluded, as major issues such as the legal viability of ZECs, re-regulation in Ohio and perhaps most important, whether FERC will proactively or reactively address ‘around market’ solutions or even market design issues underlying the loss of baseload power.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/study-finds-states-scrambling-to-retain-baseload-power-natural-gas-generation-also-at-risk-300405996.html
Bipartisan Group of U.S. Senators Re-introduce Legislation to Streamline Permitting for Renewable Energy Projects
Washington, DC) – U.S. Senators Dean Heller (R-NV), Martin Heinrich (D-NM), Jim Risch (R-ID), Jon Tester (D-MT), Cory Gardner (R-CO), Michael Bennet (D-CO), Steve Daines (R-MT), and Tom Udall (D-NM) re-introduced the Public Lands Renewable Energy Development Act, S. 282. This bipartisan legislation works toward an “all of the above” energy strategy by simplifying the permitting process for solar, geothermal, and wind projects on public lands. Following introduction, the senators offered the following statements:
“Nevada is poised for great things when we remove obstacles and let our job creators succeed—the renewable energy industry is no different,” said Senator Dean Heller. “If we truly want to implement an ‘all-of-the-above’ approach, we have to let renewable energy companies compete on a level playing field. The common-sense approach we have laid out will result in more jobs, true progress toward American energy independence, and preservation of our natural wonders.”
“By streamlining renewable energy development, especially in a state with a high wind and solar potential like New Mexico, we can create quality jobs and strengthen our economy as a whole,” said Senator Martin Heinrich. “The Public Land Renewable Energy Development Act will modernize the leasing of public lands for development of solar, wind, and geothermal energy, and transition our nation to cleaner energy sources. This bipartisan bill also directs revenues from these projects to impacted counties and critical wildlife habitat conservation projects.”
“A broad domestic energy supply is critical for America to grow its economy,” Senator Jim Risch said. “This plan helps accomplish that by putting renewable energies under a similar framework as conventional energy sources. It also requires royalty payments that will benefit Idahoans in the counties and states where the projects occur.”
“This bipartisan bill will allow us to unlock the renewable energy potential that exists on our public lands, and invest in conservation efforts and support local communities,” added Senator Jon Tester. “This is the balance we need to strike to create jobs on our public lands and preserve our Montana way of life.”
“An all of the above energy strategy is crucial for our nation’s energy independence, and for economic growth in Colorado,” Senator Cory Gardner said. “I am honored to work with my colleagues on both sides of the aisle to promote smart and sensible energy policy that makes the best use of our natural resources.”
“Renewable energy is one of Colorado’s fastest-growing job sectors,” said Senator Michael Bennet. “Leasing public lands for responsible energy development is important to a comprehensive, long-term approach to meet our nation’s energy needs. This bill will put renewables on a level playing field with other forms of energy, while supporting local economies and future conservation efforts.”
“Promoting renewable energy development is a key part of strengthening our nation’s energy security,” Senator Steve Daines stated. “Montana has a diverse energy portfolio and by supporting an all-of-the-above energy mix we can power America for generations to come.”
“Protecting public lands in New Mexico and the nation and investing in a clean energy economy are critical to create jobs and support growth in the economy overall. The Public Lands and Renewable Energy Development Act is an important step toward accomplishing these goals,” Senator Tom Udall said. “I am proud to cosponsor a bill that allows us to invest in our local communities and conserve our land and wildlife while boosting wind and solar energy development.”
The Public Lands Renewable Energy Development Act streamlines the review of solar, wind, and geothermal projects on public lands and establishes a program at the Department of the Interior focused on making the permitting process more efficient. The legislation also establishes a revenue sharing system that aids local communities that are home to potential projects and helps mitigate the impact construction could have on the land, water, and on wildlife.
Heller has long advocated for reforms to renewable energy permitting and energy production revenue sharing. In the 111th Congress, he introduced similar legislation titled the Clean Energy, Community Investment, and Wildlife Conservation Act in the U.S. House, and he teamed up with a bipartisan group of Senators on previous iterations of the Public Lands Renewable Energy Development Act in the 112th, 113th, and 114th Congresses. Last Congress, the bill passed the U.S. Senate, (S.AMDT.3286 to the Energy Policy Modernization Act – S.2012), the first time the legislation passed either body of Congress.
St Kitts-Nevis moves to finalize geothermal agreement
BASSETERRE, St Kitts (SKNIS) — Minister of Public Infrastructure with responsibility for Energy, Ian ‘Patches’ Liburd, said that the St Kitts and Nevis government is “committed to investing in alternative energy, pursuing geothermal energy production, completing the wind farm (and) supporting solar farm development.”
Speaking in Parliament on February 16, two years after the current government political office, Liburd said that alternative energy must be the energy choice of a future St Kitts and Nevis.
“Given our many challenges, we also felt that it would be irresponsible of us as a government if we did not establish whether there was a geothermal resource here on St Kitts and if so determine how best to develop that resource without retarding the progress on Nevis, and the premier was right when he said that both resources will complement each other because having now established that there is a geothermal resource on both islands, the situation is now ripe for discussion on inter-connectivity, for the discussion on the export of energy, as we on St Kitts move now to final a geothermal agreement,” he said.
“We took a deliberate approach to face the major energy challenges and we took steps to ensure that renewable energy plays a critical role in the sustainable development and economic growth of our twin-island federation,” Liburd said. “We decided to transform to a more sustainable mix, and energy security is therefore a requirement,” while making reference to the United States former secretary of state, John Kerry, who is credited with saying that energy is the market of the future.
Liburd added: “I opine that we in St Kitts and Nevis say that the energy sector is the future so we took a three-pronged approach — we updated our energy policy and legislative framework for the adoption of alternative energy to build a more competitive private sector and improve energy security for households. We established an energy unit in the ministry.”
He said that as of February 1, 2017, there is now a new director of energy within his ministry.
In September 2015, Liburd signed a memorandum of understanding (MOU) with Teranov, a French engineering and services company for new and renewable energy based in Guadeloupe. The MOU included a road map that could possibly see the production of geothermal energy in 2020.
Teranov began geothermal exploration exercises in the Sandy Point area around Brimstone Hill, going to the top of Mount Liamigua in late 2015.
Five geoscientists were in St Kitts conducting feasibility studies in geophysics, geology and geochemistry. President of Teranov, Jacques Chouraki, said at the time that the prospects for geothermal energy on St Kitts were promising.
Liburd has now confirmed that, after the feasibility studies, there is a geothermal resource on St Kitts.
$45M Towards Geothermal Project [Domenica]
Hon Prime Minister and Minister for Finance, Dr. Roosevelt Skerrit has announced that Government will inject $45M into Dominica’s geothermal project.
The finance minister was speaking at a private sector forum at the Fort Young Hotel last Friday.
Hon Skerrit says the success of this project will have a positive impact on the private sector.
“We have invested millions thus far and will make a further investment of EC$45m in the development of the geothermal plant. I am sure that you all look forward to the significant reduction in the cost of energy that will follow. This will be a positive impact on your businesses and this will also stimulate investments by others in establishing new businesses.
This cash injection is through the Citizenship By Investment programme.
U.S. Geothermal Inc. Provides Update on Development and Expansion Projects
– Drilling and Flow Testing at San Emidio Significantly Expands Resource
– Reservoir Testing and Modeling at Raft River Yield Potential to Add 1-3 Megawatts of Production
– Conditional Use Permit Received for WGP Geysers
– Drilling and Flow Testing at El Ceibillo Confirms Commercial Resource
BOISE, IDAHO–(Marketwired – Feb. 6, 2017) – U.S. Geothermal Inc. (the “Company”) (NYSE MKT:HTM), a leading and profitable renewable energy company focused on the development, production and sale of electricity from geothermal energy, is pleased to provide an update on its development and expansion projects.
“During 2016 we were able to advance many of our development projects,” said Dennis Gilles, Chief Executive Officer. “Through a combination of an excellent pipeline of projects and a favorable legislative environment, we believe that we will improve our year-over-year performance and advance the Company to achieve our 2021 goal of over 200 MWs.”
DEVELOPMENT PROJECTS (90 Megawatts)
WGP Geysers, California (30 Megawatts)
The Conditional Use Permit from Sonoma County, which approves the construction plan for the WGP Geysers power plant, was received on December 16, 2016. Combined with the Large Generator Interconnection Agreement that was received from the California Independent System Operator and Pacific Gas & Electric, this completes the long lead permits and agreements that are needed for the project. Once final engineering design is finished, and a PPA is executed, an air quality permit and building permit will be needed before on site construction will begin.
Engineering optimization of the new, hybrid power plant design is continuing and budgetary quotes for the major equipment have been received. Our engineers and consultants are working in concert with EPC contractors to examine all aspects of the construction cycle with a focus on reducing construction costs. The hybrid design will dramatically increase the volume of water available for injection back into the reservoir, which will result in increased power generation over the life of the project.
Recent discussions have been held with a number of potential power purchasers in California for the generation from the WGP Geysers plant and are continuing. Interest has been expressed by a number of them for base load, renewable power to replace fossil fuel based power generation that is being phased out of their portfolios.
San Emidio Phase II, Nevada (35 Megawatts)
The updated reservoir model (announced January 11th) resulted in a significant increase in the potential size of the San Emidio Phase II reservoir of up to 47 net megawatts. Data from flow tests that took place in late 2016 from two wells were incorporated into a Probabilistic Power Density model, which estimates the Net generation potential of a reservoir. The power density model is not a Monte Carlo style “heat in place” estimate. Based on the flow rate and temperature produced by the two wells, and by measurement of pressure response both in the wells and across the wellfield, the model estimates that the Most Likely Outcome (50% probability) is 47 net megawatts of generation capacity within a 1.4 square mile area. The Minimum level of generation capacity (90% probability) occurs in a 0.18 square mile area, and has 18.8 net megawatts of generation capacity.
These two wells are approximately 1,700 feet apart, along the new structural trend identified in the Southwest Zone which is still open for expansion. Temperature gradient well data and seismic information indicate a potential strike length for the Southwest Zone of up to 2,700 feet. This compares to a strike length for the primary producing wellfield at San Emidio Phase I of 800 feet, suggesting the potential for a much larger resource in this Southwest Zone. Permits to deepen three remaining temperature gradient wells were received from the Bureau of Land Management in December 2016. These three wells will be deepened to the targeted reservoir depth to further explore the Southwest Zone when weather allows. If successful, it will extend the length of the productive reservoir by 1,000 feet.
The three power plant units that were purchased in 2016 are available to provide this project with the major, long lead equipment requirements for 35-45 net megawatts of power (depending upon cooling system used). The increased San Emidio II reservoir capacity with a 320°F+ temperature fits the design range of the equipment. These new, unused components represent approximately 70% of the equipment needed for a complete facility similar to the Company’s Neal Hot Springs operation.
Given the larger resource capacity at San Emidio II, we have cancelled our Small Generator Interconnection Agreement that was completed in 2016, and are preparing to apply for a Large Generator Interconnection Agreement in support of the higher expected output. Additionally, transmission studies that contemplate power sales into Southern California will also be conducted, since there is now a transmission path from Northern Nevada going south on the new 500KV, 800 megawatt transmission line that was completed in January 2014.
In July 2016, the Company was awarded a $1.5 million Department of Energy cost share grant under the “Development of Technologies for Sensing, Analyzing, and Utilizing Novel Subsurface Signals in Support of the Subsurface Technology and Engineering (‘SubTER’) Crosscut Initiative.” The program approved under the grant includes using new subsurface technologies at both San Emidio and Crescent Valley to identify fluid flow paths in the geothermal resource. The data collection phase of the program was completed at San Emidio in December. The data is being interpreted to determine whether viable targets have been identified. Upon approval from the DOE, a second phase of the grant program is designed to confirm the findings by drilling. The total program cost is $1.9 million with the Company providing $400,000 in cost share.
El Ceibillo, Guatemala (25 Megawatts)
On January 10, 2017, the Guatemalan government, through the National Electrical Energy Commission (COMISIÓN NACIONAL DE ENERGÍA ELÉCTRICA-“CNEE”), announced that it is preparing to issue an RFP later this year for 420 megawatts of power, of which 40 megawatts is to be reserved specifically for geothermal energy. When the RFP is issued, the El Ceibillo project will be bid into the process.
With the commercial shallow resource now proven, in 2017, a deep well to test the producing structure down dip from well EC-5 is planned to a projected depth of 1,970 to 2,300 feet (600-800 meters). EC-5 was completed to a depth of 1,450 feet (442 meters) and intersected a high permeability zone at 1,299 feet (396 meters) with a temperature of 388°F (198°C). Chemical analysis of fluid samples taken from EC-5 at the end of a flow test indicate a potential, deep reservoir temperature of 450 to 523°F (232 to 273°C). A deeper intersection in the reservoir could increase the reservoir capacity and production temperature, and change the design of the power plant. Well EC-1, which was drilled in 2013 to a depth of 5,650 feet (1,722 meters) found a measured bottom-hole temperature of 526°F (274°C), but did not intersect permeability. The comparative geology between EC-5 and EC-1 suggests a fault or other structure feeding the reservoir may be located in the area between the two wells.
EXPANSION PROJECTS (4-6 Megawatts)
Neal Hot Springs, Oregon – Hybrid Cooling (3 Megawatts)
A third water supply well for the project was drilled in December, but due to extreme winter weather, the well has not been completed and tested to date. Productive water zones were intersected in the well, but a liner must be installed before the well can be flow tested. A fourth site has been selected and will be drilled once weather allows. The project currently has one well available from drilling in 2015 that can supply approximately 170 gallons per minute. The minimum amount of water needed for a hybrid cooling system is approximately 200-300 gallons per minute for each unit.
The ability to use water cooling during the 5-6 months of summer and fall would increase power generation, when current air cooling results in a lower plant output. An initial engineering evaluation of various hybrid cooling methods was completed by Power Engineers Inc., which confirms the economic viability of hybrid cooling if enough water can be found.
Raft River, Idaho – Wellfield Optimization (1-3 Megawatts)
Additional production is now planned from well RRG-5, an idle well with significant permeability that has been used for injection in the past. Flow testing and reservoir modeling was performed during the 4th quarter 2016 to evaluate the well for conversion to production. Flow test results showed an initial flowing temperature of over 249°F, which is expected to increase once under production to approximately 265°F. Reservoir modeling shows that RRG-5 is capable of producing up to 1,000 gpm, yielding approximately 1.5 to 2 additional net megawatts of generation from the plant. A production pump has been ordered, and is expected to be installed by the end of the first quarter 2017. Generation is expected to ramp up during the second quarter as the production wellfield is rebalanced to maximize its output. Additional sources of geothermal fluid from other wells on the project are also under study to further increase the generation level of the plant.
The initial effort to expand the output of Raft River from its current 10 megawatts to its maximum contracted level of 13 megawatts began with the drilling of a second production leg at RRG-2 in June 2016. The second production leg was drilled to a depth of 5,605 feet and was completed at the end of July. Several small zones of permeability were encountered in the new production leg. After testing the well, a new pump was installed and the well resumed production in early September. The well temperature has plateaued at approximately 277°F, down from the original production temperature of 283°F, and the well is now producing approximately 180 gallons per minute less flow than before drilling. It is believed that during drilling operations, the original production leg of the well was damaged by scale formation, which blinded off its producing fractures. Despite these results, the overall production at the plant has returned to normal levels and current production is believed to be coming mostly from the newly drilled production leg. Operations to recover the damaged production leg with an industry standard chemical treatment will be considered in the future.
Well RRG-9, which has been used as part of an $11.4 million thermal stimulation grant primarily funded by the Department of Energy, has significantly increased the injection capacity to 1,200 gallons per minute from an original level of 20 gallons per minute. This increase in injection capacity provides all of the additional volume needed to accept the flow from well RRG-5 without requiring any new drilling.
About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a leading and profitable renewable energy company focused on the development, production and sale of electricity from geothermal energy. The Company is currently operating geothermal power projects at Neal Hot Springs, Oregon, San Emidio, Nevada and Raft River, Idaho for a total power generation of approximately 45 MWs. The Company is also developing an additional estimated 90 MWs of projects at: the Geysers, California; a second phase project at San Emidio, Nevada; at Crescent Valley, Nevada; and the El Ceibillo project located near Guatemala City, Guatemala. US Geothermal’s growth goal is to reach 200 MWs of generation by 2021 through a combination of internal development and strategic acquisitions.
Please visit our website at: http://www.usgeothermal.com.
The information provided in this news release may contain forward-looking statements within the definition of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Readers are cautioned to review the risk factors identified by the company in its filings with US and Canadian securities agencies. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance, development schedules or estimated resources of U.S. Geothermal, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. These forward-looking statements may include statements regarding perceived merit of properties; interpretation of the results of well tests; project development; resource megawatt capacity; capital expenditures; timelines; strategic plans; or other statements that are not statements of fact. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from U.S. Geothermal’s expectations include the uncertainties involving the availability of financing in the debt and capital markets; uncertainties involved in the interpretation of results of well tests; the need for cooperation of government agencies in the development and operation of properties; the need to obtain permits and governmental approvals; risks of construction; unexpected cost increases, which could include significant increases in estimated capital and operating costs; and other risks and uncertainties disclosed in U.S. Geothermal’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the United States Securities and Exchange Commission and Canadian securities regulatory authorities and in other U.S. Geothermal reports and documents filed with applicable securities regulatory authorities from time to time. Forward-looking statements are based on management’s expectations, beliefs and opinions on the date the statements are made. U.S. Geothermal Inc. assumes no obligation to update forward-looking statements if management’s expectations, beliefs, or opinions, or other factors, should change.
The NYSE MKT does not accept responsibility for the adequacy of this release.
Alterra Power Announces Completion of Iceland Deep Drilling Program
News provided by Alterra Power Corp.
VANCOUVER, Feb. 9, 2017 /PRNewswire/ – Alterra Power Corp. is pleased to announce successful completion of the deep drilling program at its Icelandic subsidiary HS Orka’s Reykjanes geothermal field. Hole IDDP2 was completed at a record depth of 4,650 meters. Initial well readings (427°C temperature, 340 bars pressure) indicate supercritical conditions at the base of the well, comprising significantly higher energy content versus conventional high-temperature geothermal steam.
Based on these early readings, if the well is able to be utilized for electric production, it may produce as much as 30-50 MW of output, which would be directed to HS Orka’s Reykjanes plant. The final production potential for the well will not be known until late 2018 after further tests and research.
Ásgeir Margeirsson, CEO of HS Orka, said, “We’re pleased to complete this well with such remarkable early-stage results. We expect the final down-well temperatures to be much higher than 427°C, which could lead to production capacity of several regular geothermal wells.”
Ross Beaty, Alterra’s Executive Chairman, said, “I congratulate our strong Icelandic team and their partners for this successful landmark program. This deep drilling program has profound significance for our own energy output and growth opportunities at Reykjanes and for other geothermal operations in Iceland and elsewhere.”
HS Orka led the deep drilling program in collaboration and joint funding with Statoil, two other Icelandic power companies and the Icelandic National Energy Authority. Grants for the program were also received from the European Union and others.
Further information about the Iceland deep drilling project is available on the HS Orka and Alterra websites.
About Alterra Power Corp.
Alterra Power Corp. is a leading global renewable energy company, operating eight power plants totaling 825 MW of generation capacity including British Columbia’s largest run-of-river hydro facility and largest wind farm, the recently completed Shannon and Jimmie Creek projects, two geothermal facilities in Iceland and a solar facility in Indiana. Alterra owns a 385 MW share of this capacity, generating over 1,700 GWh of clean power annually. Alterra also has an extensive portfolio of exploration and development projects and a skilled team of developers, builders and operators to support its growth plans.
Alterra trades on the Toronto Stock Exchange under the symbol AXY.
About HS Orka hf
Alterra owns 66.6% of HS Orka, the largest privately owned energy company in Iceland. HS Orka supplies 7% of the country’s power needs and approximately 11% of the country’s heating needs. Installed geothermal power capacity is 174 MW from the Svartsengi and Reykjanes power plants. In addition, HS Orka generates 190 MW of thermal energy for district heating. HS Orka also owns a 30% interest in the Blue Lagoon, a tourist resort that adjoins our Svartsengi power plant in Iceland.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information included in this news release are “forward-looking information” within the meaning of applicable securities laws that involve risks and uncertainties. Forward-looking information relates to future events or future performance and reflects management’s expectations and beliefs regarding future events as of the date hereof. Examples of forward-looking information in this news release include the potential for and amount of future power output from the newly drilled well, the ability to successfully tie such potential power into the Reykjanes plant, the expectation of higher down-well temperatures, the potential impact on future drilling programs and growth opportunities. Forward-looking information is based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. Alterra cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking information. Material risk factors and assumptions include the expected timing for realizing the output capacity of the well, if any, the imprecise nature of estimation of renewable power resources or power generation output and recoveries, including the difficulty in assessment until a geothermal resource is actually accessed and tested by production wells, assumptions concerning and fluctuations related to, temperature and composition of underground fluids, risks related to additional financing to achieve growth and development, in addition to those set out in the management’s discussion and analysis section of Alterra’s most recent annual and quarterly reports and in Alterra’s Annual Information Form for the year ended December 31, 2015. Although Alterra has attempted to identify important factors that could cause actual actions, events or results to differ materially from forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate and undue reliance should not be placed on forward-looking information. Except as required by law, Alterra undertakes no obligation to update any forward-looking information to reflect new information, subsequently or otherwise.
SOURCE Alterra Power Corp.
PannErgy Plc’s subsidiary has signed a concession agreement in relation to the area of Győr [Hungary]
Budapest, 06. February 2017
PannErgy Plc hereby advises the actors of the capital market that based on Act CXCVI of 2011 on National Assets, Act XVI of 1991 on Concessions and Act XLVIII of 1993 on Mining, and on behalf of the State of Hungary the Minister for National Development, as the minister in charge of mining affairs, announced an open tender for certain specific, closed areas in Hungary towards the exploration, extraction and utilization of geothermal energy in the framework of concession agreements. The concession tender relating to the area of Győr was awarded to PannErgy Plc’s subsidiary, PannErgy Geothermal Power Plants Ltd (PEGE Ltd).
In line with the foregoing, PEGE Ltd has signed a concession agreement with the State of Hungary for a definite term of 35 years (with a non-recurrent renewal option for another term of 17 and half years) in relation to the area of Győr, towards the exploration, extraction and utilization of geothermal energy.
By relying on the rights acquired with the concession agreement, PEGE Ltd and its concession company to be founded later will examine the concession-based geothermal endowments of the region potentially found under 2500 meters, and thereafter will decide on the investment opportunities.
The Company has the long-term objective to enhance energy safety with the utilization of renewable, geothermal energy at an even larger scale – with proper respect to environmental sustainability –, thereby supporting the goals of climate policy.
This announcement is published in Hungarian and English languages. In case of any contradiction between these two versions, the Hungarian version shall prevail.
EOI: Geothermal Project Coordination on consultancy basis, Grenada, Caribbean
The Caribbean Development Bank has issued a request for Expressions of Interest, for a Geothermal Energy Project Coordinator on a consultancy basis for Grenada, in the Caribbean.
The Government of Grenada (GOG) has applied for financing under the Sustainable Energy Facility (SEF) for the Eastern Caribbean, managed by the Caribbean Development Bank (CDB) towards the cost of Geothermal Resource Development Project and intends to apply a portion of the proceeds of this financing to eligible payments under a contract for which this invitation is issued. Payments by CDB will be made only at the request of GOG and upon approval by CDB, and will be subject in all respects to the terms and conditions of the Financing Agreement. The Financing Agreement prohibits withdrawal from the financing account for the purpose of any payment to persons or entities, or for any import of goods, if such payment or import, to the knowledge of CDB, is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations. No party other than GOG shall derive any rights from the Financing Agreement or have any claim to the proceeds of the Financing.
The Ministry of Finance and Energy, the Executing Agency, now wishes to procure consultancy services for a Geothermal Energy Project Coordinator (GE PC) for the overall management of the Government’s exploration drilling campaign including costs, schedules and resources. The Consultant will work closely with relevant Government agencies, international funders, technical specialists and legal experts to achieve this.
The objective of the consultancy is to strengthen the capacity of the Energy Division of the Ministry of Finance and Energy to manage the implementation of GE project in Grenada.
The GE PC will report to the Permanent Secretary, or an officer designated, and will be responsible for, but not limited to, the following tasks and activities:
The GE PC will be the focal point for internal and external communication regarding geothermal energy within the Government, and will therefore be required to:
- Establish and Chair a working group comprised of key Government Ministries to identify and deliver on various inputs from Government; and work with the Ministry of Works and other Ministries to encourage budgetary allocations for the related works. GE PC will also liaise with statutory and non-statutory bodies with responsibility for enablers of the project (i.e. NAWASA, Grenada Ports Authority, etc).
- Develop and implement a communication and stakeholder engagement strategy to increase government and public awareness of the benefits and limitations of geothermal energy.
- Identify sources of technical and financial assistance which may be available from the international community.
- Coordinate a detailed project implementation plan (including workplans and budgets) for the exploration drilling campaign (including infrastructure requirements) by working with local and international technical experts to identify the scope of works, budget requirements and implementation schedule.
- In line with Government and donor requirements, develop a transparent, robust process for the tendering, evaluation and award of contracts, including the development of terms of references and technical specifications. He/she will also be required to assist in the preparation of tender documents, negotiations and procurement of services for the execution of infrastructure works, exploration drilling, etc.
- Facilitate the execution of an Environmental and Social Impact Assessment(s).
- Submit to the Permanent Secretary monthly Progress Reports on the status of tasks undertaken. Progress Reports will be provided to the Working Group and funders.
- Monitor costs, schedules and resources and alert relevant agencies of any risks to the project.
- Supervise and oversee the work of Consultants and Contractors hired, including the approval of payments against contractual milestones.
- Advise the Ministry of Finance and Energy on key actions to be taken based on the results / outcome of drilling activities.
The duration of the assignment is expected to be for a period of 24 months.
The Ministry of Finance and Energy now invites interested eligible individual consultants to submit Expressions of Interest (EOI) indicating qualifications and experience required to fulfill the role of: Consultant Geothermal Energy Project Coordinator (GE PC), and provide the relevant consultancy services, per the Terms of Reference (which can be also electronically accessed via: http://finance.gd/docs/TORsforGrenadaGeothermalProjecti.pdf, or http://www.gov.gd/egov/pdf/vacancies/tor-grenada-geothermal-project.pdf.
The GE PC will be stationed on a full time basis, at the Energy Division of the Ministry of Finance and Energy, Financial Complex, The Carenage, St. George’s, Grenada.
Consultants shall be eligible to participate if:
- the persons are citizens or bona fide residents of an eligible country; and
- in all cases, the consultant has no arrangement and undertakes not to make any arrangements, whereby any substantial part of the net profits or other tangible benefits of the contract will accrue or be paid to a person not a citizen or bona fide resident of an eligible country.
Eligible countries are member countries of CDB and the Inter-American Development Bank (IDB).
The attention of interested Consultants is drawn to paragraph 1.9 of CDB’s Guidelines for the Selection and Engagement of Consultants (2011), setting forth CDB’s policy on conflict of interest.
In the assessment of submissions, consideration will be given to qualifications and experience on similar assignments. All information must be submitted in English. The full terms of reference may be accessed at http://finance.gd/docs/TORsforGrenadaGeothermalProjecti.pdf; or http://www.gov.gd/egov/pdf/vacancies/tor-grenada-geothermal-project.pdf Further information may also be obtained from the first address below between 0800 and 1600 hours Monday to Friday.
Interested eligible candidates must provide information indicating that they are qualified to perform the services and are invited to submit their EOI which should consist of:
- A signed Cover Letter that is no more than two pages (letter size) in length; and
- A Curriculum Vitae (CV): including employment records, description of similar assignments, experience in similar conditions, availability of appropriate skills, previous remunerations etc.
Deadline for submission of EOI, is no later than 1600 hours (Grenada Time) February 28, 2017, to the first address below, and copy sent simultaneously to CDB, at the second address below. An electronic version of EOI in PDF format, OR a hard copy version may be submitted. The submission should include the Consultant’s name and address, and shall be clearly marked “Expression of Interest – Consultant Geothermal Energy Project Coordinator”.
Following the assessment of submissions, the most technically capable and appropriately experienced applicant will be invited to negotiate a contract to provide the consultancy services. GOG reserves the right to accept or reject late applications or to cancel the present invitation partially or in its entirety. It will not be bound to assign any reason for not engaging the services of any applicant and will not defray any costs incurred by any applicant in the preparation and submission of Expressions of Interest.
Ministry of Finance & Energy
Tel: +(473) 435-8708
Procurement Policy Unit
Caribbean Development Bank
P.O. Box 408
Wildey, St. Michael
BARBADOS, W.I. 11000
Tel: + (246) 431-1600
Fax: + (246) 426-7269
Request for Expressions of Interest [Turkey]
REQUEST FOR EXPRESSIONS OF INTEREST (CONSULTING SERVICES – FIRMS SELECTION) THE REPUBLIC OF TURKEY GEOTHERMAL DEVELOPMENT PROJECT
Loan No./Credit No./ Grant No.: Project ID: P151739
Assignment Title: _ Consultant Services for Risk Sharing Mechanism (RSM) for Resource Validation
Reference No. CTF-CS-01
Turkiye Kalkinma Bankasi A.S. (TKB) has received financing from the World Bank toward the cost of the Geothermal Development Project, and intends to apply part of the proceeds for consulting services (“the Services”) for Risk Sharing Mechanism for Resource Validation: This component will establish a Risk Sharing Mechanism (RSM) for Resource Validation, to support the exploration of drilling stages. Funds will be channeled to Turkey through a World Bank administrated trust fund and will be utilized to support private sector geothermal investors. TKB will be the lead implementing agency of this Component.
Consulting services from a consulting company (“RSM Consultant”) are required to establish and operate the RSM in cooperation with a dedicated TKB team. The RSM consultant shall have experience in development, monitoring and financial management of geothermal exploration projects. Such experience shall include, but not be limited to, interpretation of surface exploration data, development of conceptual models, drilling and testing, and preparation of development and business plans for geothermal projects. The RSM consultant will be required to define detailed procedures for implementation of the RSM, prepare related documents, forms and websites, and be responsible for its administration on a day to day basis. This involves managing the application process for the RSM, evaluating applications, negotiating contracts with successful applicants, monitoring drilling progress, verifying drilling and well testing results, and assessing whether the success criteria are met.
Consulting services will be selected in accordance with the World Bank’s Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits & Grants by World Bank Borrowers dated January 2011 and revised in July 2014.
The Consulting Services are expected to commence in the second half of 2017 with a duration of at least 3 years.
TKB now invites eligible consultants to indicate their interest in providing the services. Interested consultants should provide information and proof documents indicating that they are qualified to perform the services (completion certificates, brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.).
The shortlisting criteria are:
General Experience similar types of consulting services in the last five years,
Specific Experience in the following fields:
- Geothermal project management
- Geothermal exploration methods, development of conceptual models and interpretation of surface exploration data
- Drilling and production testing of geothermal wells
- Analysis of financial feasibility of geothermal projects
- Financial Management/accounting/ procurement processes
- Staffing and administrative capacity on the above.
*Having no non-performing contract financed by the IFIs.
*Experience in Turkish legal framework relevant to the geothermal sector and database development and management will be an asset.
The attention of interested Consultants is drawn to paragraph 1.9 of the World Bank’s Guidelines: Selection and Employment of Consultants [under IBRD Loans and IDA Credits & Grants] by World Bank Borrowers dated January 2011 and revised in July 2014 (“Consultant Guidelines”), setting forth the World Bank’s policy on conflict of interest.
Consultants may associate with other firms in the form of a joint venture or a sub-consultancy to enhance their qualifications. In case of a Joint Venture (JV), all members of the JV will be evaluated jointly for the purpose of short listing and shall be jointly and severally liable for the assignment and shall sign the contract in case of award is made to that JV group. Interested consultants should clearly indicate the structure of their “association” and the duties of the partners and sub consultants in their application. Unclear expression of interests in terms of “in association with” and/or “in affiliation with” and etc. may not be considered for short listing.
A consultant will be selected in accordance with the Quality-and Cost-Based Selection [QCBS] method set out in the Consultant Guidelines.
Further information can be obtained at the address below during office hours from 9:00 a.m. to 17:00 p.m. Turkey local time.
Expressions of interest to be clearly marked “Consulting Services for Risk Sharing Mechanism (RSM) for Resource Validation (CTF-CS-01) must be delivered in a written form to the address below (in person, or by registered mail or by courier service , or by e-mail by Friday, 10 March 2017, 17:00 pm local time.
Name of Office: Türkiye Kalkınma Bankası A.Ş.
Name: Mr. İlker Özata or Mr. Serdar Çatakçı
Address: İzmir Caddesi No: 35 Kat 8 Kızılay Ankara /Turkey
Postal Code: 06440
Phone : +90-312-419 77 08 or : +90-312-419 77 09
Call for Papers – 2017 GRC Annual Meeting, Salt Lake City, Oct. 1-4, 2017
The Geothermal Resources Council (GRC) has issued a call for papers for the world’s biggest geothermal conference of the year taking place October 1-4, 2017, in Salt Lake City, Utah, USA at the Salt Palace Convention Center. The event also features the GEA GeoExpo+, a geothermal trade show.
Themed “Geothermal Energy – Power to do More” the 41st GRC Annual Meeting will reflect the world-wide availability of a clean, dependable renewable energy that is available 24 hours a day, 365 days a year, providing both flexible and baseload power production.
The GRC Annual Meeting is the industry’s largest annual gathering of leading geothermal energy scientists, producers, renewable energy industry stakeholders, regulators, utilities, and key associated business leaders. The four-day event will offer technical, policy, and market conference sessions, educational seminars, tours of local geothermal and renewable energy projects, and numerous networking opportunities. Registration also includes entry to the GEA GeoExpo+.
Over 1,260 attendees came to the 2016 GRC Annual Meeting and GEA GeoExpo+ from around the world, highlighting the GRC’s role in connecting the global community. With increasing interest in geothermal as a reliable source of renewable energy providing both flexible and baseload power production around the world, the GRC is looking ahead to an even stronger international attendance in 2017.
The GRC 2017 Annual Meeting planning committee will consider papers for its Technical and Poster Sessions covering a range of topics, both domestic and international: Business Development / Finance/ Market Analysis; Drilling; Direct Use / Heat Pumps; Emerging Technologies; Exploration / Resource Assessment; Field Operations / Production Technologies; Geology; Geochemistry; Geothermal Education and Community Engagement; Geothermal Energy and Mineral Extraction; Geothermal Energy Associated with Oil and Gas Operations; Geothermal Play Fairways; Geothermal Project Case Studies; Geophysics; Power Operations / Flexible Generation / Maintenance; Regulatory / Environmental Compliance / Policy Issues; Reservoir Engineering/ Reservoir Management/ Modeling / Enhanced Geothermal Systems; Sedimentary Basins; Utility and Transmission Issues; Country Updates (example: Kenya / Philippines); Regional Updates (example: Basin & Range / Cascades / Rocky Mountains).
Successful selection to present at the GRC Annual Meeting is prestigious and recognizes the presenter as a top industry expert. International participation is key to the success of the technical programs, and geothermal researchers and experts from around the world are encouraged to submit their work for consideration to be presented at the GRC Annual Meeting.
Anyone who wants to present at the GRC Annual Meeting must submit a paper. Authors may submit a poster and/or oral technical presentation. The paper submission deadline is April 28, 2017.
Additional information about paper requirements and submission forms can be obtained by contacting the GRC at (530) 758-2360 or at www.geothermal.org.
For information on how to sponsor this event, contact Estela Smith; GRC at (530) 758-2360 or email@example.com.
For more information about the GRC Annual Meeting in Salt Lake City, Utah, USA, visit www.geothermal.org/meet-new.html or call +1 (530) 758-2360. For information about the GEA GeoExpo+ visit http://geothermalexpo.org or call +1 (202) 454-5261.
Salton Sea geothermal plant would use lithium tech that caught Tesla’s eye
World Bank to give Indonesia $55m to develop geothermal energy
OECS supports geothermal energy exploration [Caribbean]
Japanese lenders ink Indonesian geothermal deal
With a potential of up to 3,500 MW geothermal is a competitive option in Chile
[Texas] Railroad Commission says it’s ready for first geothermal power project in decades
Caribbean Dominica step closer to secure additional funding for geothermal project
Basic, Phinma hold test for Mabini geothermal project [Philippines]
JICA delivers re-evaluation on GDC’s Baringo-Silali geothermal potential, Kenya
France: study highlights important role of geothermal energy
The report is downloadable here (in French)
LGAQ discusses geothermal [Queensland, Australia]
Pertamina Geothermal to add 85 MW at Ulubelu and Karaha in 2017 [Indonesia]
Sinopec to harvest more heat from earth [China]
A new EU geothermal funding initiative to open call for project this spring
The call information will be continuously updated on the website: http://www.geothermica.eu/publication/call-to-action
South Korea’s first geothermal plant at Pohang could start operation this year
Geothermal sources can give 10,000MWs, NA body told [Pakistan]
Development of geothermal power needs to accelerated: VP [Indonesia]
Egesim and Atlas Copco partnership to offer joint geothermal power plant solution
Panther Creek geothermal project EIS delayed [Idaho]
Geothermal project in Haute-Sorne in Switzerland secures risk insurance
St Kitts government moves to finalise geothermal agreement
New Zealand lauded for renewables, but challenges remain