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Nevada Deploys First U.S. Commercial, Grid-Connected Enhanced Geothermal System

As part of the Obama Administration's all-of-the-above energy strategy, the Energy Department today recognized the nation's first commercial enhanced geothermal system (EGS) project to supply electricity to the grid. Based in Churchill County, Nevada, Ormat Technologies' Desert Peak 2 EGS project has increased power output of its nearby operating geothermal field by nearly 38%—providing an additional 1.7 megawatts of power to...

Geothermal Energy - Apr 15, 2013

NGP Completes Transfer of Ownership in the Blue Mountain Geothermal Project to EIG

Nevada Geothermal Power Inc. announces that the Company and funds managed by EIG Global Energy Partners, the mezzanine lender for the Blue Mountain Geothermal Project, closed the Equity and Collateral Transfer Agreement on March 28, 2013. EIG has accepted the transfer of ownership of NGP Blue Mountain Holdco LLC in full satisfaction of all amounts owing under BM Holdco’s loan agreement with EIG. NGP received $500,00...

Geothermal Energy - Apr 2, 2013

World Bank to raise $500 mn for geothermal energy

The World Bank launched a fund in Reykjavik on Wednesday to come up with $500 million for developing geothermal energy in developing countries. "Geothermal energy could be a triple win for developing countries: clean, reliable, locally produced power," Managing Director Sri Mulyani Indrawati said in a statement. "At least forty countries have enough geothermal potential to meet a significant proportion of their electrici...

Geothermal Energy - Mar 6, 2013