Nevada Geothermal Power Gets $57.9 M in Stimulus for Plant
The U.S. Department of the Treasury has approved Nevada Geothermal Power Inc.'s application in the amount of $57.9 million for Specified Energy Property in Lieu of Tax/Credits relating to the Blue Mountain "Faulkner 1" geothermal power plant under Section 1603, Division B of the American Recovery and Reinvestment Act of 2009, according to a company press release.
The power plant was placed in service on Oct. 9, and is producing power at a sustainable rate of 27 megawatts (MW) net. As previously released, plant output is limited by deep injection capacity. Three additional deep wells are planned to bring the plant up to full production capacity of greater than 40 MW (net). The company reports that grant funds will be used to complete the additional drilling and pipeline connection.
Plant capacity tests indicate that the power conversion system is approximately 20 percent more efficient than the base design. The improved efficiency results from both higher brine inlet temperature to the plant and a more efficient power conversion. Thus the company expects the net output of the plant can be increased up to 47 MW (net) with additional fluid production.
Nevada Geothermal Power Inc. is an emerging renewable energy developer focused on producing clean, efficient and sustainable geothermal electric power from high temperature geothermal resources, in the United States. NGP currently owns a leasehold interest in four properties: Blue Mountain, Pumpernickel, Black Warrior, all of which are ideally situated in Nevada, and Crump Geyser in Oregon. These properties are at different levels of exploration and development. NGP estimates a potential of over 200 MW from the current leaseholds.