MGMXF: Matching TSX. Alterra Shareholders may receive, as elected, in respect of each Alterra Share held, either: (i) 0.5563 of a common share of Innergex (each, an “Innergex Share”), subject to proration; or (ii) $8.25 in cash, subject to proration (the “Cash Consideration”).

FINRA deleted symbol:

http://otce.finra.org/DLDeletions

Innergex Renewable Energy to acquire Alterra Power Corp.

La page que vous demandez n'est pas disponible.???

Thanks a heap, frog - er, NO, NO, NO -- Je vous remercie, tres formidable Francois amis.


I have never had good experience with reverse split.

Missed your chance, Freddy.

We all do that.

I am still far from golden but a huge comeback from a terrible blunder.

Best, Terry

Eddy,

"I have never had good experience with reverse split."

Little wonder.

A reverse always results from catastrophic events that can be the result of numerous causes, including former mismanagement that new management hopes to rectify.

I should probably say nearly all are cases of mismanagement but I am not cognizant of the entire universe of failed penny stocks. Some are serial reverse splitters. I don't know how such corporations keep finding new buyers but I guess P. T. Barnum' dictum that a sucker is born every minute holds.

Still there are cases and there are cases.

Ross Beaty with training as a geologist has a long history of success in the rough and tumble business of finding, developing and selling mining properties:

http://www.bloomberg.com/research/stocks/people/person.asp?personId=6090548&privcapId=52314107

Ross blundered disastrously in his introduction to geothermal power and has diversified away from geothermal - wrongly in my opinion. I like run of river power but not the popular wind and solar because they are undependable and very expensive as a result.

What should you do?

- Whatever you think best in my opinion. I am not an investment adviser and doubt the value of any.

All the best, Terry

I have never had good experience with reverse split. Let's see if this can be any different.

Do you also hate the cash dividend on a former penny stock, Eddy?

Really? I don't like the decision of reverse split.

MGMXF: effective Sept. 9, 2016 a one for 10 reverse split.

http://otce.finra.org/DLSymbolNameChanges

Astounding, even unique events, occurring but commentary zilch.

Best, Terry

Can any one explain the price surge these past three months?

"Klamath Falls Geothermal District Heating"

"The economic value of the geothermal district heating system to the community is clearly significant. The other question is whether the revenue to the system operator is adequate to cover costs. The city cannot charge the full value of conventional energy, or there would be no incentive for customers to connect."

This bureaucratic smallthink probably explains the snail-pace of development despite great enthusiasm and some very innovative direct uses of low temperature geothermal in the area going back as far as the late 19th century.

The fossil fuel behemoths previously and today's billion-dollar crackpot pushers of expensive intermittent energy have delayed a green economy to some indefinite distant future while baseload ["nearly always on"] energy is most everywhere languishing in the dark.

A link to Google search for detailed information is here for any interested:

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwj4vOz-j5PNAhXDSSYKHaJcBXAQFggcMAA&url=http%3A%2F%2Fwww.oit.edu%2Fdocs%2Fdefault-source%2Fgeoheat-center-documents%2Fpublications%2Fspace-district-heating%2Ftp125.pdf%3Fsfvrsn%3D2&usg=AFQjCNGu_9gkxB2Hd8Mk8-FC177mBseP8A&sig2=SYNGhj7kjfl9SCqSYSQavQ

Looks like Obama and Hillary and maybe Bernie too Share Some of Trump's Fear of Mexicans

EU and Mexico launch the first joint geothermal research project

The €20 million GEMex project brings together European and Mexican researchers to explore new sources of geothermal energy. The project was selected in a joint EU-Mexican call for proposals.first geothermal power in Italy

http://ec.europa.eu/inea/en/news-events/newsroom/eu-and-mexico-launch-first-joint-geothermal-research-project

When geothermal power pioneer, B. C. McCabe, started drilling The Geysers in the 1950's, still the world's largest geothermal electricity generatinng power field at less than half its peak production, it had been preceded only by Italy first generating electricity around the turn of the century and then building the world's first geothermal power plant at Larderello.

Both country's pioneering of the greenest, cheapest, universally available baseload energy was put to sleep first by more expensive fossil fuels and later by undependable, high-cost sun and wind energy also backed by billion-dollar behemoths.

If promoters would call it "hot rock" power instead of "geothermal" power, perhaps some of the more astute politicians less easily bought, like Elizabeth Warren, could remember it. No need to tell them the mental giants at MIT rechristened Hot Dry Rock [HDR] as EGS and sold a long, long, long failed research project akin to fusion power as a brand new EGS. Politicians aren't into subtlety.

MGMXF is finding gold with the lesser wind energy and helping make North America's power grid less stable but letting the mother lode stay relatively quiescent. Ross Beaty is a great leader but he ain't no B. C. McCabe.

Best, Terry

Ross Beaty, founder and hefty shareholder of Alterra Power Corporation should perhaps visit the wonderful Olkaria Geothermal Spa if he can't make it to Alterra's own investment in Iceland's famed Blue Lagoon Spa.

http://www.hapakenya.com/2016/04/28/the-ol-karia-geothermal-spa-is-amazing/

Unlike America and other places of supreme ignorance and superstition, Mother Earth's mighty blessing of heated waters when Mother isn't angry is the greenest, cheapest, most available power source on earth.

Olkaria has some attractions even Iceland doesn't:

"I expect Alterra Power will eventually leave its stumbling start far, far behind invisible in a rear view mirror."

And I suspect it will continue as it has started: as a catastrophic money pit, promoted on the social media by the usual suspect IRPs to the naïve, gullible but greedy:

http://ih.advfn.com/p.php?pid=charts&symbol=NO%5EMGMXF&period=1&freq=0

Solar panels replacing wind power that's why all wind power companies are going down the drain

UK-Iceland Energy Task Force to establish feasibility of geothermal power interconnector

http://www.thinkgeoenergy.com/uk-iceland-energy-task-force-to-establish-feasibility-of-geothermal-power-interconnector/

Ross Beaty is a very sharp trader and businessman. Since he was also educated as a geologist, I expected Ross was the ideal fellow to make it big in geothermal. His first big blunder was trying to buy into Iceland's geothermal power on the cheap. Ross was messing with the national religion.

Bad, bad mistakes to date but could work out over time. I am far from a fan of sometime (intermittent) energy but it does get lots of handouts. I am a fan of run-of-river power that has some features of baseload power.

The above link shows the idiocy of relying on wind power. England has no shortage of geothermal resources if it would just develop them instead of getting becalmed by wind.

All JMO.

Best, Terry

Frank Curzio had Ross Beaty on his podcast Aug 12th. I thought it was an informative interview and gives some great insight on current Alterra projects.

Could a spike in price bring a long dead board to life?

- We will see.

BTW how do you think tomorrow's promised release will look? You know nobody gets a sneak preview.

Best, Terry

Edited Transcript of AXY.TO earnings conference call or presentation 13-May-15

AXY.TO and MGMXF are both Alterra Power

http://finance.yahoo.com/news/edited-transcript-axy-earnings-conference-162414677.html

Best, Terry

Thor:

http://www.jardboranir.is/equipment/thor/

There is a rather nice photo gallery of a drilling rig being used by HS Orka in Iceland.

http://thinkgeoenergy.com/archives/20874

Something to maybe warm up to a bit while the stock remains in the deep freeze and is fooling itself with the frivolous unreliables.

Best, Terry

I guess this is what happened today:

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 28, 2014) - Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on November 28, 2014 he acquired ownership of 14,571,100 common shares of Alterra Power Corp. ("Alterra") through the facilities of the Chi-X Exchange in reliance on the normal course purchase exemption set out in section 4.1 of Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids for a purchase price of CDN$0.328 per common share and an aggregate purchase price of CDN$4,779,320.80. The common shares purchased represent approximately 3.1% of the total number of issued and outstanding common shares of Alterra. As a result of this transaction, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 156,569,186 common shares of Alterra, representing approximately 33.41% of the total number of issued and outstanding common shares of Alterra. Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Alterra for investment purposes.

http://www.marketwired.com/press-release/news-release-1972481.htm

When the .32 Canadian bid was posted, that price was above the high of the day at the time. I have noted that when the market makers are willing to pay above the high of the day to buy, that is a bullish sign. It doesn't happen too often, but it is a great signal when it happens. Just another tea leaf to read.

In Toronto, the bid on AXY is .32, ask is .32, +.01 on good volume.

I have usually found that is bullish in a long dormant stock but I ain't no dancing fool - meaning I am not much of a trader.

Best, Terry

I find it bullish when the market makers are willing to pay above the high of the day just to buy a stock. The bid today on MGMXF hit .28 with a depth of 51,100 with no takers. AXY on the Toronto exchange recently took in some 21.8 million on the bid of .30 Canadian (huge volume), and now the Canadian bid is holding above that at .31. I sense support and a potential bullish move. I don't know where the 21.8 million shares went. I have seen huge volume taken in on some other stocks also, and the volume never seems to go anywhere, yet the result is bullish over the next few weeks.

This is a complicated company to digest, because they buy and sell assets in addition to operating the power plants. It may not be readily apparent how each transaction affects the bottom line, but I don't think they are taking a loss on each transaction. They made a nice profit on the sale of their partial interest in Dokie 1, so I assume they are making money on each transaction, otherwise, why do it.

They give up a percentage of a project in a JV, but they can retain a percentage without putting up as much capital, since Alterra provides development planning and management. This gives Alterra a percentage beyond what they could expect with just a cash contribution alone, and is an efficient way to grow with less capital. The trick to developing a joint venture is to do the planning and bring it closer to reality, so it becomes more valuable by the time they do the JV. By doing some preliminary planning they can effectively sell off a percentage of the JV at a higher price. This is similar to doing the initial work on a development and subdividing, then selling off the subdivided parcels at a higher price. They have a nice pipeline of projects, and they do seem able to pull off the financing. But for the writedown last quarter, they would have been profitable. One of these days people will see that the company is profitable. I am thinking that is what is behind the recent market activity.

Alterra Power and Fiera Axium Announce Partnership for Jimmie Creek Hydro Project

http://online.wsj.com/article/PR-CO-20140424-911143.html

[Yawn] Who cares?

They will - some day.

But for now...

Best, Terry

The depth on the bid was sitting at 768,000 at close on the Canadian exchange (AXY on TSX), more than 11 times the depth on the ask. This is generally a bullish ratio. Seems like they are serious about getting some shares. Interestingly, not that much was being sold, even though some rather sizeable positions could have closed out if they had wanted to do so. The two markets seems to share liquidity, i.e., a large order on the American symbol can be filled from Canada, and vice versa, based on my observation of time and sales between the two markets.

Who am I supposed to blame for my losses, Towerclimber?

Actually alterra in my opinion is going to be a solid stock. With all the plants they have operational i am suprised the PPS isn't higher than what it is. Im actually planning to buy more of this. Just think if Alterra took the dividend stance AT power is doing? You could pick up a lof cheap shares. Ofc this is a canadian company so you would have to pay canadian tax but still...

Im focused on HTM big time. It spiked heavily today. I can rely on htm to be a stable long term investment - i hope. Vgpr is next om the list. FCEL has made me a little bit of money. That one would be a good choice too.

I dont like giving investment advice due to the liabilities involved, the above is my opinon. I do hold the stocks above. Good luck to you.

Hi, Towerclimber.

this is a decent stock, I am suprised the PPS is not higher for the amount of plants they have going on.

[sigh] More wind power bought in the state best known for the windiness of its inhabitants and helped out by the windiest place of all:

Alterra Completes Further Peruvian Joint Venture

http://www.marketwatch.com/story/alterra-completes-further-peruvian-joint-venture-2014-01-16?reflink=MW_news_stmp

Inca Emperor Atahualpa five centuries ago salved his aching bones with native maidens in geothermal waters where a Peruvian resort now does the same for modern amigos and amigas.

Alterra has sold most of its interest in those same Peruvian resources to a Filipino developer who is not as appreciated in his home country as he once was.

Alterra's geothermal digs in Peru are almost as forgotten as Emperor Atahualpa's baths though it is a bit more recent. We all be more interested in high-cost, sometime wind and solar power these days.

Pity.

At least Ross Beaty hasn't totally forgotten the power source far greater and cheaper than all other power sources on earth combined - that is Mother Earth herself.

Best, Terry

"Massively undervalued, you think?

Yeah I think but not for the reasons the fund manager thinks.

Alterra Power Corp : Nov 12, 2013 Alterra Power Announces Results for the Quarter Ended September 30, 2013


(under IFRS and all amounts in US dollars unless otherwise stated)

VANCOUVER, Nov. 12, 2013 /CNW/ - Alterra Power Corp. (TSX: AXY) is pleased to report its financial and operating results for the three and nine months ended September 30, 2013. For further information on these results please see Alterra's Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis.

Alterra consolidates 100% of the HS Orka and Soda Lake operations and accounts for its interests in the Toba Montrose, Dokie 1 and ABW Solar (third quarter solar acquisition) facilities as equity investments. Alterra's results are sometimes disclosed as Alterra's "net interest", which means the results that Alterra would have reported if each of HS Orka (66.6%), Toba Montrose (40%), Dokie 1 (51%), ABW Solar (10%) and Soda Lake (100%) had been reported in accordance with Alterra's actual share of ownership. Management believes that net interest reporting provides the clearest view of the Company's performance.

Highlights for the current quarter include:
• Increased revenue and EBITDA (net interest): Revenue (including business interruption proceeds) was $30.0 million and EBITDA was $18.3 million, up 3% from the comparative quarter, primarily due to increased contractual revenue at HS Orka and higher water flow at Toba Montrose.
• Reliable power generation: Alterra's fleet of power projects generated 360,391 MWh of clean power (net interest), achieving 89% of budgeted generation despite the Montrose hydro facility being offline for most of the quarter. Generation would have been 103% of budget had the Montrose plant not been offline. Total generation from plants operated by Alterra was 669,344 MWh.
• ABW Solar acquisition completed: Alterra acquired a 10% interest in a 50 MW solar generation project in Ontario, Canada (ABW Solar) for $7.1 million, and will manage the project.
• Montrose facility back online: Penstock repairs at the Montrose hydro facility were completed and the facility was brought back into service on September 22, 2013. Several site improvements including protective berms have also been completed and will significantly lessen the likelihood of any future damage or interruption.
• Jimmie Creek project development: ? Construction timing: Alterra now plans construction for this 62 MW run-of-river facility in 2014, and has executed a further limited notice to proceed with SNC Lavalin in support of this schedule.
? PPA completed:The Jimmie Creek power purchase agreement ("PPA") was finalized through an amendment completed subsequent to the quarter. Under the contract, the project will sell 100% of its power to BC Hydro for 40 years commencing in August 2016.
? Alterra to be 100% owner: Alterra completed an agreement to purchase the 49% project stake currently owned by an affiliate of General Electric Energy Financial Services. The transaction is expected to close by December 2013.

• Shannon wind project: Alterra entered into an exclusivity agreement that provides for an option to purchase a 200 MW wind generation development project in Clay County, Texas, USA.
• Reykjanes Re-Injection Program: Alterra commenced drilling a new large-diameter well in support of a field maintenance program. The well was completed in November, with positive initial indications of permeability.

John Carson, Alterra's CEO, said "With our operations back to full strength and delivering positive results, we are now focused on making 2014 a strong year of growth for Alterra. Our plan is to place both Jimmie Creek and Shannon Wind into construction in 2014, and I'm confident that we have the resources, including people and access to capital, to make that a reality."

Financial Results

The following table shows key financial information extracted from the consolidated results.

(expressed in thousands of US dollars, except for generation)

For the three months ending September 30, 2013
HS Orka
(66.6%) Toba
Montrose
(40%) Dokie 1
(51%) Soda Lake
(100%) ABW
(10%) Exploration
and Head
Office Net Interest
Total Consolidated
Results
Generation (MWh) 206,791 113,474 26,423 12,631 1,072 - 360,391 323,128
Total Revenue $ 8,821 $ 12,143 $ 2,778 $ 817 $ 434 $ - $ 24,993 $ 14,062
Business Interruption Insurance Proceeds - 5,052 - - - - 5,052 -
Gross Profit (Loss) 2,171 9,387 390 (1,035) 298 - 11,211 2,225
EBITDA (a) 4,787 14,541 1,266 (430) 268 (2,179) 18,253 20,385


For the three months ending September 30, 2012
HS Orka
(66.6%) Toba
Montrose
(40%) Dokie 1
(51%) Soda Lake
(100%) ABW
(10%) Exploration
and Head
Office Net Interest
Total Consolidated
Results
Generation (MWh) 198,406 154,208 34,085 12,308 - - 399,007 310,215
Total Revenue $ 8,338 $ 16,210 $ 3,890 $ 806 $ - $ - $ 29,244 $ 13,326
Gross Profit (Loss) 2,439 13,259 1,518 (1,473) - - 15,743 2,189
EBITDA (a) 4,077 14,092 2,429 (998) - (1,836) 17,764 19,808


Note (a) -Here and elsewhere, EBITDA is defined by Alterra as earnings before interest, taxes, foreign exchange, depreciation and amortization, as well as before deductions for change in fair value of bonds payable and derivatives, foreign exchange gain (loss), write off of development costs and other income (expense) except business interruption proceeds, amortization of below market contracts, and value assigned to options granted less share of income (loss) of equity accounted investees plus the Company's interest in EBITDA of its equity accounted investees. Alterra discloses EBITDA as it is a measure used by analysts and by management to evaluate Alterra's performance. As EBITDA is a non-IFRS measure, it may not be comparable to EBITDA calculated by others. In addition, as EBITDA is not a substitute for net earnings, readers should consider net earnings in evaluating Alterra's performance. For a reconciliation of consolidated EBITDA to Alterra's consolidated financial statements refer to the Company's Management's Discussion and Analysis for the three and nine months ended September 30, 2013.

Consolidated Results

Revenue was up 6% ($14.1 million compared to $13.3 million) due to increased generation and contractual sales at HS Orka. Gross profit remained consistent at $2.2 million as the increase in revenue was offset by increased maintenance drilling at HS Orka.

Net income improved $1.7 million to $16.4 million, largely as a result of high water flows and insurance proceeds received at Toba Montrose, which drove a $7.5 million increase in Alterra's share of equity investments. Non-cash items offsetting this increase include:
• A $2.3 million negative change in the fair value of bonds payable and derivatives, related primarily to fluctuations in forecasted aluminum prices.
• A $2.9 million negative movement related to foreign exchange.
• A $2.0 million negative change in write-offs of certain development costs related primarily to the completion of joint ventures in Chile and Peru.

Consolidated cash and cash equivalents at September 30 were $37.1 million ($39.2 million at December 31, 2012).

Net Interest Results

Alterra's net interest in revenue and EBITDA increased 3% and 3% respectively primarily due to increased contractual revenue at HS Orka, high water flow at Toba Montrose resulting in increased generation, income from the Blue Lagoon hf due to increased visitor attendance and the addition of ABW Solar. Offsets to these increases include reduced generation at Dokie 1 due to low winds, and slight increases in general and administrative expense related to non-recurring transaction fees and office reductions for the Company's South American projects.

Iceland Operations (66.6% Interest)

The 100 MW Reykjanes plant generated 132,689 MWh of electricity (98% of budget), and the 72 MW Svartsengi plant generated 74,102 MWh of electricity (109% of budget), and continued to supply thermal energy for district heating.

Toba Montrose Operations (40% Interest)

The Toba Montrose facility generated 113,474 MWh of electricity, or 74% of forecasted generation. Although the Montrose facility was offline for repairs during the majority of the quarter, the measured water flow for purposes of business interruption insurance payments (attributed generation) was 57,636 MWh, for a combined pro forma generation of 171,110, 112% of budget.

On December 13, 2012 a rockslide damaged a 300 meter section of the five kilometer penstock (which supplies water from the intake to the power generating plant) at the Montrose facility. The penstock repairs at the Montrose hydro facility were completed during the third quarter and the facility was brought back into service on September 22, 2013. Several site improvements including protective berms were also completed and will significantly lessen the likelihood of any future damage or interruption. Business Interruption and property damage proceeds were paid by the insurer during the quarter and eligible property costs and sub-limits with respect to future payments for property damage are being reviewed with the insurer.

New property insurance for the project was obtained in September 2013 with earth movement coverage capped at C$40.0 million. Toba Montrose has agreed to defer distributions until a higher level of earth movement coverage is re-established, which the Company expects to occur by the second quarter of 2014 or earlier.

Dokie 1 Operations (51% Interest)

The 144 MW Dokie 1 wind farm generated 26,423 MWh of electricity for the quarter, or 72% of budget. Revenue decreased against the comparative quarter due to lower wind.

ABW Solar Operations (10% Interest)

On August 23 Alterra acquired a 10% interest in a 50 MW solar generation project in Ontario (ABW Solar), which will be held in a general partnership with an affiliate of GE Energy Financial Services ("GE EFS") and managed by Alterra. The project was built by First Solar, Inc. and achieved commercial operations during the second quarter of 2013. The project will sell 100% of its electricity to the Ontario Power Authority under 20-year PPAs. The project generated 1,072 MWh for the quarter (beginning August 23), representing 113% of budget.

Soda Lake Operations (100% Interest)

The 15 MW Soda Lake geothermal plant generated 12,631 MWh of electricity for the current quarter, or 98% of budget. The plant completed its annual maintenance outage during the quarter as planned.

Expansion and Development Projects

Jimmie Creek hydro(formerly Upper Toba)

Alterra is currently finalizing plant design for the fully permitted 62 MW Jimmie Creek project and in July 2013 signed a limited notice to proceed with SNC Lavalin who will provide further pre-construction services. Alterra is now targeting construction to begin in the first half of 2014.

On October 31 Alterra signed an agreement to purchase the 49% share of the Jimmie Creek project currently owned by GE EFS, following which Alterra will own 100% of the project. Alterra expects the transaction to close by year-end.

In November 2013 Alterra completed an amendment to the project's PPA to cover the Jimmie Creek project only, at a nameplate capacity of 62 MW with projected annual firm energy of 114 GWh and an August 1, 2016 completion date for construction. Under the contract, the project will sell 100% of its power to BC Hydro for 40 years. Alterra will examine the possibility of constructing the Upper Toba project at a later date under a future call for power.

Dokie 2 wind farm expansion

Alterra holds a 51% interest in a planned expansion of the Dokie 1 wind farm (Dokie 2) with projected additions to capacity of up to 156 MW. During the quarter Alterra continued to collect data, conduct engineering work and perform other studies to complete the assessment of the project.

South American geothermal projects

In July 2013 Alterra completed a joint venture agreement with Energy Development Corporation ("EDC") for the further development of the Mariposa project in Chile and the Crucero, Loriscota, and Tutupaca Norte projects in Peru on a joint basis. Under the terms of the joint venture, EDC will be entitled to earn a 70% interest by funding the next $58.3 million in project expenditures at Mariposa and $8.0 million on the Peruvian projects. Subsequent project equity contributions and economic sharing would be on a pro rata basis between the partners. EDC is now the managing partner for the development of the Mariposa project and the Peruvian projects. The projects are now recorded as equity investments by Alterra.

Reykjanes Expansion

Alterra has commenced a reinjection program at the Reykjanes field, and will refine the timeline for the Reykjanes expansion pending results from the program. The key matters remaining prior to construction are conclusion of a PPA, completion of project financing and confirmation of resource field.

Other development projects

Alterra continues to advance other early stage geothermal projects in Italy and Peru, including exploration field work, data assessment and continued community consultations. Alterra also continues to advance its British Columbia hydro projects in 2013 through collection of hydrology data for the Bute Inlet project and other early stage run of river and pumped storage hydro projects. In Iceland, Alterra began an environmental assessment on the Bulandsvirkjun hydroelectric project.

• Alterra Power will host a conference call to discuss financial and operating results on Wednesday, November 13, 2013 at 11:30 am ET (8:30 am PT).
• North American participants dial 1-888-390-0546 and International participants dial 1-416-764-8688; the conference ID is 18533630.
• The call will also be broadcast live on the Internet at http://www.newswire.ca/en/webcast/detail/1246789/1373689.
• The call will be available for replay for one week after the call by dialing 1-416-764-8677 and entering replay PIN 533630

Thanks, Shenfein.

A bit surprising in that article that the pioneer Kalina cycle geothermal power plant in the isolated hamlet of Husavik isn't mentioned. It points the way to a cleaner future most everywhere with a rubbish burning plant adding some heat to tepid waters to squeeze 2MW of power out of leftovers.

The plant was sold some time ago to a foreign corporation for refurbishment and modernization without the fuss engendered by Alterra Power's entrance.

http://www.mannvit.com/GeothermalEnergy/ProjectExampleinfo/kalina-cycle-geothermal-power-plant

BTW I bet you would have great difficulty finding a single global warming denier in The Philippines today.

Best, Terry

Iceland Seeks to Cash In On
Its Abundant Renewable Energy

Still reeling from recent financial crises, Iceland is hoping to use its bountiful sources of geothermal and hydroelectric energy to help boost its economy. Among the country’s more ambitious plans is an undersea cable to carry renewably generated electricity to the U.K.
by cheryl katz

Amid clouds of steam spewing from magma-heated pockets beneath Iceland’s Reykjanes Peninsula, a start-up company is tapping volcanic forces to transform the climate change agent carbon dioxide from a problem into a solution.

Using geothermal electricity and flue gas from the Svartsengi power plant nearby, Carbon Recycling International (CRI) fuses waste CO2, with hydrogen split from water to create "renewable methanol." The Reykjavik-based clean-tech venture recently began exporting the product to the Netherlands, where it is blended into gasoline. Its name, conjuring images of a comic book superhero, is Vulcanol. While others elsewhere are
Svartsengi geothermal plant
Johann Helgason

Svartsengi geothermal plant in Iceland supplies electricity and gases for renewable methanol branded as Vulcanol.
working on similar efforts to make green fuel from repurposed CO2, only CRI has been able to do it commercially, thanks to Iceland’s abundant supply of low-cost, earth-generated power.

As Iceland struggles to get back on its feet after a fiscal crisis that began in 2008, CRI is one of numerous ventures seeking to turn the geologic hotspot’s renewable energy bounty into an exportable economic asset. Pioneers in harnessing geothermal heat for power, Icelanders are now bringing their expertise to a variety of novel endeavors, including a 1,000-kilometer undersea cable carrying renewably generated electricity to Europe.


Aside from oil for transportation, Iceland’s power comes entirely from sustainable sources.
This volcano- and glacier-covered island straddling the Mid-Atlantic Ridge already leads the world in renewable energy use — aside from oil for transportation, Iceland’s power comes entirely from sustainable sources. Geothermal steam heats most buildings and generates about a quarter of its electricity, with the rest coming from hydropower. Inexpensive electricity — up to 35 percent cheaper than in the U.S. — has lured aluminum smelters and other power-intensive industries.

But analysts say Iceland’s energy resources are vastly underutilized, and exploiting them is crucial to an economy whose current biggest driver is fishing. So a spate of projects are in the works, including new, carbon-free consumer products and a promising method for locking away greenhouse gases, which could benefit CO2 sequestration efforts worldwide.

"We’re trying to create a value and a premium from our ability here in Iceland to utilize these renewable energy resources," said Benedikt Stefansson, CRI’s director of business development. In July, a Canadian company invested $5 million in the company.

"Iceland has a lot to offer," said Thorsteinn Sigfusson, director general of Innovation Center, Iceland, a start-up incubator with several energy-related ventures. Sigfusson believes inventions capitalizing on renewable power will provide important sources of foreign revenue for the country.

One of the boldest ideas, with potentially the greatest economic benefit, is the proposed $2.1 billion electrical interconnector to Scotland, which would become the world’s longest undersea power cable. The project is the brainchild of state-owned utility Landsvirkjun, which operates the country’s hydroelectric system. Currently, about 80 percent of Iceland’s electricity goes to heavy industry. The cable scheme would increase Iceland’s geothermal operations and switch all of its domestic energy needs to these sources, then sell its hydroelectricity to the U.K. as a peak power supply.

"This is of a scale and scope that is foreign to Iceland," Bjorgvin Sigurdsson, executive vice president for marketing and business development, said in an interview at Landsvirkjun’s Reykjavik offices. "It’s actually a way to rethink the whole system… The idea is to use geothermal to displace hydro, so the hydro is available for use as the flexibility mechanism for export."

Iceland and the U.K. signed a memorandum of understanding on the project last year, and this fall Iceland’s parliament and cabinet are expected to decide whether to move forward. Big hurdles at present include public fears that local electricity prices will skyrocket, concerns that the project will create jobs abroad instead of in Iceland, and a steep cost that requires guaranteed revenues through an as-yet-unsigned, long-term power contract with the U.K.

Many of these renewable energy projects come with a high price tag.

Other green energy projects in Iceland are combining the country’s clean power resources and distinctive geology to create eco-friendly consumer goods.

On a recent morning at the Innovation Center’s R&D facility north of Reykjavik, Sigfusson and colleague Árdís Ármannsdóttir played with a bundle of silky, gray strings, which he calls "fairy hair." Made from basalt — the volcanic rock covering much of the island — the filament offers a green alternative to carbon fiber, a ubiquitous manufacturing material synthesized from oil and natural gas.

"Carbon fiber’s footprint is very bad," said Sigfusson, a renewable energy expert who is also a physics professor at the University of Iceland. "But there is a way to go about it which is much greener. This will be possible to do with green heat from our power plants and with no carbon ingredients. It will be amazingly green."

The idea isn’t new — basalt fiber has been around since World War II, but it was difficult to work with and never gained widespread use. Now, using technical advances developed at ICI, Sigfusson predicts the new filament will replace carbon fiber in products like car bumpers and boats, becoming an important Icelandic export. He expects manufacturing to begin within two years.

Other ICI energy projects include using new technologies to generate electricity from low-temperature geothermal fields, and creating synthetic, renewable diesel fuel. One cutting-edge concept is to develop materials that can store geothermal heat for release by a chemical reaction later on. "Then we could use our high-temperature [geothermal] fields to actually power up the less-blessed areas of Iceland, Greenland, and the Faroe Islands," said Ingolfur Thorbjornsson, ICI’s managing director of technological development.

Many of these projects, however, come with a high price tag. CRI’s renewable methanol, for instance, is about twice the price of conventional methanol, according to Stefansson. This year the plant will make 1.7 million liters (about 450,000 gallons), which is expected to grow to 5 million liters after a planned expansion.

Moreover, not all Icelanders favor expanding use of the nation’s energy resources.

"You can't engage in any more energy projects without destroying priceless natural treasures and natural habitats," said Halli Bjornsson, an Iceland native now living in England, whose year-old Facebook page, Protect Icelandic Nature, has nearly 10,000 followers. Iceland’s green energy is neither entirely clean nor indefinitely renewable, Bjornsson said, pointing out that hydropower dams disrupt glacial rivers and harm fish populations. And while geothermal power is, on the whole, far cleaner than fossil fuels, it does release CO2 and noxious hydrogen sulfide from underground chambers. Reykjavikers complain about rotten egg fumes from the Hellisheidi geothermal station nearly 20 miles away.

What’s more, about three-quarters of Iceland’s electricity now goes to aluminum smelters that burn carbon electrodes, giving off significant amounts of CO2. Add in the fossil fuels still used for transportation and commercial fishing, and the nation’s carbon footprint is heavy despite its renewable energy. Iceland’s 320,000 residents have the highest per capita greenhouse emissions in the Nordic region, and among the highest in Europe, although it is still well below the U.S. and Australia, according to data from the European Energy Agency and Nordic Energy Research.

CarbFix would inject CO2 water into underground basalt formations, where it would solidify as carbonates.

CarbFix, a new carbon capture and storage method being developed at the University of Iceland, could help keep some of that climate-warming gas out of the atmosphere. Siphoning CO2 from smokestacks and sequestering it is critical for holding down emissions, and may soon be required at all coal-burning power plants in the U.S. But the technology has been difficult to develop. CarbFix — a partnership involving state-owned power company Reykjavik Energy, the University of Iceland, Columbia University’s Earth Institute, and France’s Center for Scientific Research — is currently being tested at a pilot site near the Hellisheidi geothermal plant, where it uses the island’s reactive basalt to permanently trap CO2 emissions.

"What we do differently than everybody else is we basically make soda water," said Sigurdur Gislason, a professor at the University of Iceland’s Institute of Earth Sciences and chairman of the project’s scientific steering committee. The process pumps CO2 into water underground, where it dissolves and reacts with minerals in the basalt. Within a decade or two, it solidifies as carbonates. Compared to other carbon storage approaches, such as injecting compressed CO2 into sedimentary rock cavities, trapping carbon in basalt is far quicker, with virtually no chance of leakage, Gislason said.

The process requires 25 metric tons of water for every ton of CO2 — not a problem in Iceland, which receives ample amounts of rainfall. The Hellisheidi target zone contains enough basalt to store 12 million metric tons, or 200 years’ worth of the plant’s CO2 emissions at its current production level. Basalt-rich coastal areas and the entire ocean crest are also potential storage sites, Gislason said.

Next year, plant operator Reykjavik Energy will expand the project to include hydrogen sulfide as well. Eliminating both gases would allow geothermal energy production to be stepped up in Iceland and elsewhere. "If we prove that this can be done without harming the harnessing of the heat, then of course this is very positive for geothermal energy utilization," Gislason said. "If the industrial scale-up is successful, then this is something that could be done within the next five years."

While tiny Iceland is unlikely to become a global renewable energy powerhouse, the world could learn from the resourcefulness of this remote northern island. Banking on sustainable power could both shore up its sagging economy and help build a bridge to a fossil-fuel-free future.



POSTED ON 03 Oct 2013 IN Business & Innovation Climate Energy Forests Policy & Politics Science & Technology Asia Europe Europe

Au contraire, Shenfein.

A European conference years ago suggested some 95% of available geothermal resources were of the low temperature, shallow sort that has been largely ignored.

Chena Hot Springs Spa northeast of Fairbanks, Alaska, despite the name, has tepid waters and has a world-breaking low heat power generating capability that also may shatter all records for low cost of generating electricity without the lengthy lead times required for mega power projects.

http://www.chenahotsprings.com/geothermal-power/

So why isn't it being done?

Well it is catching on but mighty slow.

People are not quick learners.

I grant you it is not - for now - Alterra Power's interest.

Should be methinks but it isn't.

Canada has no shortage whatever of geothermal power resources but the will and knowledge are lacking.

Best, Terry

For Vancouver-based Alterra Power Corp., today’s big geothermal energy opportunities lie outside Canada. Publicly traded renewable energy specialist Alterra operates two geothermal plants in Iceland with a total capacity of 172 megawatts and a 23-megawatt-capacity facility in Soda Lake near Reno, Nev. It owns the latter outright and the former with Icelandic pension funds.


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Alterra’s largest and most promising new geothermal development is the Mariposa project in Chile, which CEO John Carson says could be the country’s premier known geothermal resource. Located south of Santiago, Mariposa has an inferred capacity of 320 megawatts. Alterra is preparing for large-scale production drilling next fall. Its partner on the project is Manila-based geothermal producer Energy Development Corp., which is contributing about $60-million.

Unlike wind and solar power projects, which can go anywhere, geothermal works only in certain places due to the limits of existing technology, Mr. Carson explains. “Iceland is a unique area where the strong heat of the Earth is very apparent and very easy to get to.”

Research wells drilled in Canada decades ago found the right temperature for geothermal, Mr. Carson says. In the zones that were drilled, though, there wasn’t enough permeability in the rock around the drill holes for water to trickle in and turn into steam sufficient to power a plant.

“Where there’s temperature, one could pretty well be certain that there are good permeable zones,” Mr. Carson says. Although British Columbia has no proven geothermal wells, Mr. Carson sees potential to develop large-scale zones if the next round of exploratory drilling there hits pay dirt.

“It’s contagious,” he says, stressing that any such development is years away. “Once you’ve got an area that’s somewhat proven, certainly it’s going to attract others, and then you’ll see these massive fields built out such as the Imperial Valley in California.”