geothermal loan Nevada

15 June 2010-- The Department of Energy (DOE) gave a conditional commitment to provide a partial guarantee for a $98.5 million loan to the Nevada Geothermal Power Co. (NGP) for a planned 49.5 MW geothermal project in Nevada.

John Hancock Financial Services will provide the loan to NGP for the Blue Mountain project. The project will consist of a geothermal well field, fluid collection and injection systems that enable energy to be extracted from rock and fluid below the Earth’s surface. The Nevada Power Co., a unit of NV Energy, signed a 20-year power purchase agreement to buy the electricity output from the project.

The loan is one of the first awarded under the Financial Institution Partnership Program (FIPP), where the DOE provides a guarantee for up to 80 percent of a loan provided to a renewable energy project by a financial institution.

Read more geothermal power news

Sponsored by FLSmidth

Related Articles

Cape Wind secures $400M more in financing for offshore project

Cape Wind said it has secured an additional $400 million dollars from several financial institutions for the offshore wind project slated to be built in Nantucket Sound.

Dragonfly Solar, SolarWorld to deliver solar power to utility co-ops

Commercial solar developer, Dragonfly Solar and SolarWorld, a solar manufacturer, will deliver solar arrays, totaling 517-kW to four electric utility cooperatives in the U.S. Midwest.

Follow Power Engineering on Twitter

Latest News

 MS Power coal-to-gas conversion nearly complete

MS Power coal-to-gas conversion nearly complete

A coal-to-gas conversion project at a power plant operated by Mississippi Power is nearly com...
 North Anna nuclear power plant shuts down

North Anna nuclear power plant shuts down

Unit 1 of the North Anna nuclear power plant automatically tripped offline Feb. 26 as workers...
 Oklahoma leaders looking for more wind regulations

Oklahoma leaders looking for more wind regulations

With wind energy production in full swing in Oklahoma, legislative leaders are looking to imp...

Second-oldest nuclear reactor in S. Korea OK to restart

South Korea’s nuclear watchdog approved a plan to restart a 679-MW nuclear power unit that wa...
 SunEdison to bring power to 20Mn people by 2020

Video: SunEdison to bring power to 20Mn people by 2020

SunEdison, Inc. (NYSE: SUNE) announced plans to bring electricity to 20 million people in und...
02-25 Henry Hub Average Natural Gas Spot Prices

02/25 Henry Hub Average Natural Gas Spot Prices

The Henry Hub is the pricing point for natural gas futures contracts traded on the New York M...
 GDF Suez wants Areva to deliver nuclear reactors, wind turbines

GDF Suez wants Areva to deliver nuclear reactors, wind turbines

GDF Suez says it received guarantees from Areva for planned nuclear reactors in Turkey and wi...
 CB&I: We’re not liable for $247mn nuclear power project penalties

CB&I: We’re not liable for $247mn nuclear power project penalties

Chicago Bridge & Iron (CB&I, NYSE: CBI) say they should not be liable for any of the ...

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Industry Wire News

Nouria Energy Selects CBX for C-Store Design Development

Nouria Energy Selects CBX for C-Store Design Development

Viper Networks and Apollo Metro Receive Order and Deliver Intelligent LED Street Lights for Pilot Project in Lebanon

Viper Networks and Apollo Metro Receive Order and Deliver Intelligent LED Street Lights...

Freddie Mac Forecasts Strong Year for Multifamily Markets

Freddie Mac Forecasts Strong Year for Multifamily Markets

National Automation Services, Inc. - 2015 Business Strategies

National Automation Services, Inc. - 2015 Business Strategies

Scorpio Bulkers Inc. Announces Fourth Quarter and Year End Earnings Release Date and Conference Call Details

Scorpio Bulkers Inc. Announces Fourth Quarter and Year End Earnings Release Date and Co...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>