All Entries in the "Finance" Category
Calpine reports fourth quarter, year-end results
In Texas, Calpine Corp. reported 2010 adjusted EBITDA of $1,712 million, compared to $1,782 million in the prior year. The company also reported 2010 adjusted recurring free cash flow of $558 million, compared to $602 million in 2009. Net income for the year was $31 million, or $0.06 per diluted share, compared to $149 million, [...]
Geothermal paying off for EDC, Might River
While it seems that firms struggle to make a go of geothermal in North America, in the Philippines, Energy Development Corp. (EDC) reported a net profit of $101.6 million last year, a full 31% ahead of the previous year’s $78.5 million. EDC is that country’s leading producer of geothermal energy. And in New Zealand, state-owned [...]
Qualibou finds funding for St. Lucia project
In Nevada, Qualibou Energy Inc. says it has entered into an interim partnership and investment agreement to fund its St. Lucia geothermal power project with a private energy company based in Canada. The agreement provides immediate funding to begin pre-construction activities on Phase 1 of the project, which has now started. A jointly owned project [...]
U.S. Geothermal closes $5 million financing
In Idaho, U.S. Geothermal Inc. said it had closed on the recently announced $5 million financing plan. The company issued 5,000,000 shares of Common Stock at $1.00 each to strategic investors. Each investor was also issued a common stock purchase warrant exercisable for 50% of the number of shares of Common Stock purchased. The proceeds [...]
Ram, U.S. Geothermal find financing
In Nevada, Ram Power, Corp. closed a $50 million, two-year term loan credit facility, while in Idaho, U.S. Geothermal Inc. entered into agreements with a number of strategic investors netting them $5 million. Ram’s credit facility was entered into with Sprott Resource Lending Partnership, Exploration Capital Partners 2008 Limited Partnership and Newberry International Holdings Ltd.. [...]
NGP turns a profit; Ormat slips a bit
In Canada and Nevada, Ormat Technologies and Nevada Geothermal Power Inc. released results for the quarter ended December 31, 2010. Ormat, which saw a 15.5% increase in electricity segment revenue, had total revenues were $373.2 million for the year ended December 31, compared to $412.0 million in the previous year. Net income dipped from $68.6 [...]
Magma deepens losses in second quarter
In Canada, Magma Energy Corp. reported a net loss for second quarter ended December 31 of $9.1 million or $0.03 per share, compared to a loss of $5.2 million ($0.02/share) for the same period last year. Revenues from energy sales for the second quarter of fiscal 2011 were $18.8 million and total costs of production [...]
JPM Capital takes interest in Ormat plants
In Nevada, Ormat Technologies, Inc. subsidiary Ormat Nevada Inc. has completed a $24.9 million tax equity transaction with JPM Capital Corp. The deal gives JPM a 30% Class B membership in OPC LLC, established by Ormat Nevada to hold the Desert Peak 2, Steamboat Hills, Galena 2, and Galena 3 geothermal power plants jointly with [...]
Ormat taps $88 million overseas
In Nevada, Ormat Technologies, Inc. says it has entered into an Addendum to the Deed of Trust from August 3, 2010, that govern the issuance of, and accepted subscriptions for, an additional $88 million in aggregate principal amount of senior unsecured bonds. They are of the same series of bonds issued by the Ormat in [...]
China, France funding Kenyan rig buys
In Kenya, the Export-Import Bank of China and the French Development Agency have pledged $163 million in 2011 for the country to buy five drilling rigs for geothermal projects. Exim Bank will provide $90 million for three rigs. Agence Francaise de Developpement, owned by France, will supply the remaining $73 million. Kenya acquired two drilling [...]
