Ormat and Nevada Geothermal Power have started drilling for the development at the joint project at Crump Geyser, a power project of up to 30MW in capacity in Nevada…Read More
(Note-The article says ‘in Nevada’ but the site is actually in Southern Oregon. I think that’s a mistake.)
My Take: It was big news when small geothermal player Nevada Geothermal (NGLPF) announced it was partnering with large geothermal player Ormat (ORA) to develop its property in Southern Oregon. The actual work has now started, which was obviously expected, but still a good sign.
The other important aspect of this project is that it’s projected to qualify for funding under the American Recovery & Reinvestment Act, since the plant is scheduled to be running by 2013. Making the project less costly is a good thing & especially good when most investors are banking on government help to make alternative energy projects more appealing in the eyes of investors.
Disclosure: Long ORA & NGLPF