in News Departments > Projects & Contracts
print the content item

U.S. Geothermal Inc. has acquired Ram Power Corp.'s Geysers project for a total of $6.4 million in cash.

The project is located within the broader Geysers geothermal field located in Sonoma County, Calif., approximately 75 miles north of San Francisco.

"Acquiring this project with five completed production/injection wells, having enough total initial steam production for roughly 30 megawatts gross, is a huge head start," says Dennis Gilles, CEO of U.S. Geothermal. "We are currently evaluating two development approaches for this project. The first involves obtaining a new [power purchase agreement] to replace the previously expired [power purchase agreements] and constructing a new power plant, while the second option involves selling steam to one of several companies currently operating power plants in the Geysers.

"Having over $90 million previously invested in the project will allow us to finish development at substantially reduced costs and with drilling risk significantly reduced, given that most of the wells needed have already been completed," he adds.


Hse SandyHook
Latest Top Stories

New Study Underscores Value Of Customer Engagement, Ranks Most-Trusted U.S. Utilities

According to the report, which analyzes 125 utilities across the country, earning a customer's trust can lead to monetary gains.


Washington State Doles Out Cash For Utility Energy Storage Projects

Three utilities have been awarded millions of dollars in grants to explore energy storage technology that could help integrate renewable and improve the power grid.


Utilities Reveal Just How Much Customers Are Saving With Energy Efficiency Programs

Two U.S. utility companies have issued progress reports and solid numbers regarding their respective initiatives.


Middle East And North African Countries To Spend Billions On Smart Grids, Solar Integration

According to a new report from Northeast Group LLC, the MENA region will make big investments to modernize the grid and add more solar power by 2024.


Ohio Halts Renewables, Efficiency Mandates For Two Years

Gov. John Kasich has signed into law a freeze of the state's Alternative Energy Portfolio Standard - a move praised by some utilities and protested by the renewables community.

S&C Electric_id176
edf_id180