Geothermal Industry Starting Strong in 2016

Happy New Year from GEA.

2016HappyNewYear

In this post:

*U.S. and International Showcase to Feature Speakers, Networking Opps
*U.S. Geothermal Acquires Goldman’s Interest in Raft River Project
*Mannvit to Provide Engineering for First Geothermal Plant in Croatia
*Western States Moving on CPP Compliance
*Geothermal Energy Could Grow Six-fold, Says Global Geothermal Alliance

Click below to read this week’s leading geothermal industry news.

By Leslie Blodgett, with contributions where noted.

U.S. and International Showcase to Feature Speakers, Networking Opps
The Geothermal Energy Association’s U.S. and International Geothermal Showcase 2016 is drawing close, scheduled for Thursday, March 17, and an impressive list of industry, finance and government speakers will share their insight. Key government and business leaders will be in attendance, with representatives from many countries traveling to Washington, D.C. to take part in the event. The Showcase will occur in the Ronald Reagan Building and International Trade Center in Washington, DC and will feature CEOs from the geothermal industry and key policy leaders.

GEA will release the newest issue of its widely referenced annual report on geothermal power development at the March showcase. “Over 80 countries are pursuing geothermal energy today” noted Karl Gawell, GEA’s Executive Director. GEA cites estimates that there could be enough resource potential in those countries to offset the total coal emissions of the U.S. power system. The showcase is a wonderful opportunity for industry leaders to demonstrate emerging technologies and share developing trends and policies in the geothermal landscape.

Confirmed speakers include Ben Matek, Industry Analyst & Research Projects Manager, Geothermal Energy Association; Bob Sullivan, Executive Vice President Business Development, Ormat Technologies; John Fox, CEO, Electratherm; Alexander Richter, Chief Project Manager, Green Energy Geothermal; Paul von Hirtz, President, Thermochem, Inc.; Mike Long, Senior Project Manager- Strategic Consulting, POWER Engineers, Inc.; Doug Glaspey, President and COO, US Geothermal, Inc.; Warren Dewhurst, Managing Member, Dewhurst Group; Kate Young, Analyst, National Renewable Energy Laboratory; Pierre Audinet, Clean Energy Program Team Leader, ESMAP Program, The World Bank; Mike Eckhart, Managing Director, Citigroup, Inc.; and Susan Petty, President and CTO, AltaRock Energy.

They will speak on the current issues geothermal markets are dealing with all around the world and will showcase their projects. Topics include U.S. and international policies supporting geothermal development; Regional market developments; Keys to Financing Geothermal Projects; Geothermal Power and COP 21 – the role of geothermal in addressing global warming; and New technology developments and future prospects.

Other invited speakers and participants include The Honorable Senator John Kerry, U.S. Senator and Secretary of State; The Honorable Senator Cory Gardner, U.S Senator State of Colorado; U.S. Secretary of Energy Dr. Ernest Moniz, U.S. Department of Energy; Douglas Hollett, Deputy Assistant Secretary for Renewable Power, U.S. Department of Energy; Enel Green Power America; Alstom Renewable Power; Climate Policy Initiative; Inter-American Development Bank; African Development Bank; Geothermal Development Corporation; Standard Bank; Grupo Dragon; Reykjavik Geothermal; Alterra Power; Ministry of
New and Renewable Energy Indonesia; Comision Federal de Electricidad; PT Pertamina; and ACORE.

Sponsors of the event to date are POWER Engineers/ Galena Advisors, United States Energy Association, Geothermal Resource Group and Drewhurst Group, and supporting organizations are United States Agency for International Development, Overseas Private Investment Corporation, US Trade and Development Agency, United States Energy Association, US Department of State, US Department of Energy Geothermal Technologies Office, Inter-American Development Bank, World Bank, Geothermal Resources Council, American Geosciences Institute and American Council On Renewable Energy. Look for more information from our media partners ThinkGeoEnergy, American Geosciences Institute and American Council on Renewable Energy.

To register, please visit https://www.gifttool.com/registrar/ShowEventDetails?ID=1872&EID=21349. For questions regarding the program or opportunities for sponsorships, please contact Rani Chatrath at Rani@geo-energy.org. (Allie Nelson contributed to this update.)

U.S. Geothermal Acquires Goldman’s Interest in Raft River Project
U.S. Geothermal Inc., a GEA Member company based in Idaho, announced in a press release that it has acquired the majority of their cash flow interest in and ownership of the Raft River geothermal project from Goldman Sachs.

The press release states, “U.S. Geothermal will receive 95% of the cash flow from the project on a going forward basis, along with all increased cash flow from any project improvements. The purchase price was $5.1 million for the 95% interest, with an option to purchase the balance of Goldman’s interest for Fair Market Value at the end of 2017.”

Dennis Gilles, CEO of U.S. Geothermal said in the release: “This agreement with Goldman Sachs is a strong positive for our company. It unlocks the ability to consider capital upgrades that should increase output from the facility and potentially reach its design capacity of 13 megawatts. It strengthens our commitment to becoming the North American leader in geothermal energy.”

For the full press release, go to http://www.usgeothermal.com/News.aspx

Mannvit to Provide Engineering for First Geothermal Plant in Croatia
Mannvit, a GEA Member company with offices around the world, has been contracted by Turboden for the Velika Ciglena geothermal project, expected to be the first geothermal power plant in Croatia. Mannvit will complete “the basic and detailed engineering of the resource gathering and injection system,” according to an article on their website.

The website states: “Mannvit’s Hungarian office will act as a subcontractor of Turboden in the project, which will be the first geothermal power plant operating in the Central Eastern Europe region. The power plant will be harnessing the geothermal energy of the Pannonian basin, widely considered as one of the key geothermal areas in Europe.”

Mr. Lárus Hólm, head of Mannvit’s Budapest office stated: “It is exciting for Mannvit to be a part of the design team for the first geothermal power plant in Croatia and in fact the Central Eastern European region. Hopefully this is just the first of many such projects, the potential is certainly in place.”

Western States Moving on CPP Compliance
The Clean Power Plan of the U.S. requires states to come up with individual compliance plans, and geothermal industry professionals can attend meetings that will affect their state’s plans.

Arizona will hold a meeting on January 5, 2016, 9:30-11:30 a.m. For more information, visit: https://www.azdeq.gov/environ/air/stakeholder.html.

California’s “ARB staff currently view the Cap-and-Trade Regulation as the central “state measure” for CPP compliance purposes,” according to http://www.arb.ca.gov/cc/powerplants/meetings/2015whitepaper.pdf.

In Colorado, a range of upcoming meetings through January and beyond focusing on topics such as low income communities and the Clean Energy Incentive Program, Colorado’s compliance status and compliance options, and demand growth, cost and reliability. For more information, visit: https://www.colorado.gov/pacific/cdphe/CleanPowerPlan.

Montana’s 111d Subcommittee on Federal Clean Power Plan 2015-2016 is scheduled to meet next on January 14, 2016. For more information, go to: http://leg.mt.gov/css/Committees/Interim/2015-2016/EQC/111d-Subcom/default.asp.

And in New Mexico, the New Mexico Environment Department will host public meetings on Monday and Tuesday, January 11th and 12th, in order to share information, answer questions and receive initial public input on the options available for developing a State Plan in response to EPA’s Clean Power Plan. Oral and written comments and questions will be accepted and can be sent in advance, if desired, to: NMENV-NMCPP@state.nm.us. Basic information about the Clean Power Plan will be provided and is also available at: http://www.env.nm.gov/aqb/CPP.htm.

You can subscribe to future updates on CPP compliance plans and other topics relevant to geothermal energy for many of these states by visiting the links given above. (Ben Matek contributed to this update.)

Geothermal Energy Could Grow Six-fold, Says Global Geothermal Alliance
The formation of the Global Geothermal Alliance intends to spur a sixfold increase in geothermal electricity production by 2030, notes an article on oilprice.com. The Alliance says the 12 GW of annual geothermal energy production is only a fraction of the untapped geothermal productive capacity, with 90 countries containing areas where geothermal power is feasible.

Currently, 24 countries have tapped into this renewable power source and it is a promising field that, as a constant provider of energy, could aid developing countries in industrializing sustainably and meeting the majority of their energy needs. This opens a lucrative market for investors in the developing world, and geothermal could provide a significant portion of the energy needed to sustain an ever-increasing global population. The Global Geothermal Alliance stands to promote this endless resource and, using examples like Iceland, can spread awareness in the industry about the adaptability and versatility of geothermal energy in striving towards a greener future.

GEA is one of the founding members of the Global Geothermal Alliance, which kicked off this month at the UN meetings in Paris. (Allie Nelson contributed to this update.)

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