Archive for August, 2009
PannErgy JV to build $70 million geothermal plant in Hungary
In Hungary, alternative-energy company PannErgy Nyrt has established a joint venture with a Miskolc local council-owned district-heating company Miskolci Hőszolgáltató (Miho) to build a $70 million geothermal power plant in the city, as reported in the Budapest Business Journal. The JV, called Miskolci Geotermia, will drill to a depth of 2,000-2,500 meters. The power plant [...]
Soda Lake expansion progress
In Vancouver, BC, Magma Energy Corp. completed two drill holes at its Soda Lake geothermal operation in Nevada to depths of 4,468 feet and 8,995 feet respectively. The wells were drilled to provide further information regarding the distribution of heat and permeability of the reservoir as part of the Company’s plans to double Soda Lake’s [...]
Magma Energy to Acquire Up to 32.32% of Iceland’s HS Orka
In Vancouver, BC, Magma Energy Corp. said that it is the preferred bidder to acquire up to 32.32% of Iceland geothermal company HS Orka through auction. Coupled with a July notice that Magma was to acquire a 10.78% of HS Orka, Magma would hold a 43.1% direct interest in HS Orka if the deals close [...]
Geothermal news digest
Geothermal power is power extracted from heat stored in the earth. This geothermal energy originates primarily from the original formation of the planet, from radioactive decay of minerals, and also from solar energy absorbed at the surface.
According to research in 2007 led by MIT and sponsored by the U.S. Department of Energy, the upper limit of recoverable deep [...]
