NGLPF.. $0.1225...Company Information..
Nevada Geothermal Power Inc. (OTCBB: NGLPF; TSX.V: NGP) is an experienced renewable energy producer focusing on the development of CLEAN electrical power from high temperature geothermal resources in the United States.
NGP holds leasehold interests in eight geothermal projects located in Western United States:Blue Mountain,Pumpernickel, North Valley , and Edna Mountain - in Nevada, New Truckhaven, East Brawley, and South Brawley - in California and Crump Geyser- in Oregon.
NGP's first geothermal power plant, Blue Mountain Faulkner 1, started generating electricity in October 2009. The Company holds a 100% interest of the Blue Mountain geothermal leases just 20 miles (32 km) west of Winnemucca in north central Nevada. This geothermal field has advantages over many other geothermal projects: the geothermal resource is close to the surface (shallow), it has easy road access; and is situated within 21 miles (33 km) of the electrical transmission grid.
Blue Mountain was first discovered in the 1980's while searching for gold. Recognizing that the potential for generating electrical power out-weighed the property's bullion prospects, company president Brian Fairbank moved to tie up the ground. With over 30 years of geothermal power industry expertise, he had no problem attracting an international team of industry experts.
With a 20-year Power Purchase Agreement with NV Energy (formerly Nevada Power Company), NGP's flagship project, Blue Mountain 'Faulkner I' geothermal power plant, turned on the power in the Fall of 2009 and is generating revenue!
NGP recently acquired the New Truckhaven, East Brawley and South Brawley geothermal projects in the Imperial Valley, California. NGP's leasehold covers a broad thermal anomaly identified in 1500-ft deep gradient holes and two deep production test holes. The largely undeveloped area is readily accessible by paved Highway 86 and within a few miles of power transmission lines providing access to the power markets in southern California.
NGP believes that a 30-50 MW steam flash or binary power plant can be developed for the low-salinity New Truckhaven resource using conventional technology.
The advanced stage East Brawley property includes key leases in the central part of the thermal anomaly immediately south of the current drilling by Ram Power at the Orita project. Commerical productivity has been demonstrated in several deep wells.
NGP also acquired 50% leasehold in the South Brawley geothermal area. NGP will determine if a secure land position can be established. No physical work is planned in the immediate future.
In addition to the Blue Mountain and Imperial Valley geothermal projects, NGP has geothermal rights in Crump Geyser -- in Oregon, and Pumpernickel, North Valley and Edna Mountain in Nevada.
NGP has commenced development drilling at Crump Geyser on a Joint Venture with Ormat to develop a 30 MW plant by the end of 2013. GeothermEx, Inc. (May 2006) estimates a minimum of 40 MW potential and most likely 60 MW potential at Crump Geyser, Oregon located in Oregon. NGP is looking for similar acquisitions to build its inventory of geothermal reservoirs.
At Pumpernickel, NGP initiated an exploratory drilling program in spring 2005 with partners (including the U.S. Department of Energy). In May 2010 NGP solidified its land holdings in the Pumpernickel Valley with the acquisition of Edna Mountain. Edna Mountain is located within a favorable geological setting with significant evidence of past and present hydrothermal activity.
Located in the prolific power producing area dubbed the "Corridor of Heat", the North Valley geothermal site has the potential for the discovery of a geothermal reservoir suitable for electric power generation. Temperature gradients greater than 200 degrees C/km are indicated throughout the leased area in ten wide-spaced drill holes by Phillips Petroleum in the early 1980's.
As NGP continues to grow and evolve, it is poised to become a principal supplier of geothermal energy in North America through exploration, development and operation.
Geothermal energy is nothing new to the United States:
With 77 geothermal plants totaling 3086 MW of power capacity on an annual basis.
The. U.S. has implemented legislation requiring power producers to increase their percentage output of renewable power to 25% in Nevada and Oregon (by 2025) and to 33% in California (by 2030).
Government support through American Reinvestment and Recovery Act and federal incentive programs
Geothermal is Natural, Clean, Sustainable Power
Geothermal power is a renewable and cost effective alternative to coal, oil and natural gas fired power plants. Geothermal energy, which is literally defined as "heat from the earth", is natural, clean, renewable, reliable, efficient and inexpensive to operate.
Geothermal reservoirs of heated water occur in regions of high heat flow and fractured, permeable rock formations. Fractures in the earth's crust allow hot groundwater to rise towards the surface where it may become sealed by impermeable rock. Surface manifestations of geothermal reservoirs include hot springs and geysers.
To access the hot water resource, production wells are typically drilled 4000 to 8000 feet below the surface. The heated water is brought to surface where it is flashed to steam; the steam is used to drive the turbines to generate electricity; and, the residual water is cooled and re-injected underground to recharge the reservoir. There are no surface discharges and very little or no emissions.
Geothermal the Alternative Energy of Choice
Geothermal power plants offer outstanding operational efficiency, low cost, base-load energy (24/7, 365 days a year), 95% + capacity for geothermal compared to 65% for hydro, coal, nuclear and 30% for wind. Unlike gas, coal or oil power plants, geothermal plants require no fuel to operate and thus are unaffected by fluctuations in fuel prices.
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