All Entries in the "International" Category
Mighty River to build another big geothermal plant
In New Zealand, Mighty River Power has confirmed it will build a $383 million geothermal plant north of Taupo. The plant will have an initial output of 82 MW and will be built on the Ngatamariki geothermal steam. The development follows the commissioning of Kawerau and Nga Awa Purua power plants and will raise [...]
Geothermal power development gets big grant
In Kenya, Geothermal Development Co. has picked up an $81.5 million grant from the French Development Bank (AfD) to procure drilling rigs. Drilling activities will be accelerated at Menengai in Nakuru and part of the grant be used to train the company’s drilling staff. The first phase of the $818 million project is expected to [...]
Bago GT plant to shut down for study again amid calls for permanent shutdown
In the Philippines, Energy Development Corp. (EDC) says it will shut down the Northern Negros Geothermal Power Plant in Mailum, Bago City in July for further resource study. The plant was built to produce 49 MW of geothermal power but only produces 8 to 9 MW. EDC temporarily shut down the plant in November 2010 [...]
Contact Energy offer pulls in $332 million from shareholders
In New Zeraland, Contact Energy Ltd. has raised $331.9 million towards building the $623 million, 166 MW Te Mihi geothermal power plant. The company was looking to raise $350 million through a 1-for-9 renounceable rights issue with shares at a 13.8% discount. Almost two thirds of shareholders took the company up on the offer.
Final drilling phase approaches in Newcastle
In England, the deep drilling research project in Newcastle is shifting into a final phase. A 50 ft drilling rig is being brought in to handle the last 5,750 ft of drilling. Drilcorp has opened up the first 820 ft, which takes the borehole past the old mine workings. Geometric Drilling will handle the remainder [...]
Panax looking for new investor money
In Australia, ASX-listed Panax Geothermal is looking to raise about $4 million to advance its portfolio of near-term projects. Under the offer, existing shareholders of the company can subscribe for six shares for every 10 ordinary shares that they hold. Those who subscribe for shares will also receive one attaching option for every two shares [...]
PLN takes over Sarulla geothermal plant project
In Indonesia, state electricity utility PT PLN said it will take over the construction of the Sarulla geothermal power plant in North Sumatra from a consortium comprising Medco Energi Internasional, Ormat International and Itochu Corporation. PLN president director Dahlan Iskan was quoted as saying “PLN has completed all its [internal] negotiations, but negotiations among investors [...]
Government sale of power assets to restart
In the Philippines, Energy Secretary Jose Rene D. Almendras said the government’s sale of the remaining power-generation assets and contracted capacities will resume in July. Biddings will start with the independent power producer administrator (IPPA) contract for the 149 MW Naga power facility. An IPPA contract for the 640 MW Unified Leyte geothermal complex will [...]
EDC to get s $75 million loan from World Bank
In the Philippines, Energy Development Corp. (EDC) has signed a $75-million loan with the International Finance Corp., the private sector investment arm of the World Bank group. The 15-year loan facility will help finance the company’s medium-term capital expenditure program, which would see the construction of geothermal facilities that can generate a combined 230 [...]
New Zealand to join IPGT
In New Zealand, the country is looking to become a member of the International Partnership for Geothermal Technology (IPGT), Science and Innovation Minister Wayne Mapp said. The IPGT was established in August 2008 and seeks to develop advanced, cost-effective geothermal energy technologies through international research co-operation. The United States, Australia, Switzerland and Iceland are currently [...]
