In today’s rocky economic setting, it is always a refreshing event to see a project with broad economic reach progressing forward nicely. Past posts have spoken to the company’s ability to make visionary steps a reality with the long term in mind. Economic conditions can make this process more difficult, but if a company has truly hit upon a solidly profitable and visionary idea, it will find a way to succeed. As an investor, finding these ideas and visions may be difficult, but when an investor does, they may find the rewards profitable and personally satisfying.
Nevada Geothermal Power Inc., a geothermal power developer and generator, works to develop and operate geothermal electric power plants primarily in Nevada. The company is currently making solid headway in the construction and tie-in of its first geothermal power generating plant (with additional units in process.)
As other alternative energy sources receive the lion’s share of publicity, Nevada Geothermal Power is quietly going about its business of implementing plans for delivering clean electric power to the electrical grid.
The company is far from the initial “wouldn’t it be nice” aspect of generating clean and affordable geothermal energy and closer to the “turn the switch” phase. This, of course recognizes that a geothermal electricity generating plant does not just spring up out of the desert overnight, but does recognize a guaranteed contract for the completion of the company’s Blue Mountain unit by the end of 2009. Currently, plans are on pace for specialty components to arrive on site in the spring of 2009 with fixed price line contracts awarded. This 21 mile wood pole line system is also a guaranteed delivery by June 2009 with a terminus at The Sierra Pacific Power Company. The line is rated to 120kW of power.
Past posts have recognized the company as holding solid potential for low cost clean power if they could get the project built. As that recognition was made before current lending issues arose, one might suspect getting the project completed might have run into issues. According to the company, this is most definitely not the case. Financing (TCW Asset Management) is well defined and in place, particularly for its 49.5 megawatt Blue Mountain project. As timing for these particular types of projects is an aspect to consider, it is likely that the company’s remaining lease hold properties, rated at a potential 200 megawatts, will fall into place nicely as current lending issues work themselves out.
From all appearances, this utility seems to have all its ducks in a row with clean and reliable power generation not too far off. In many respects, past the geothermal portion of the equation, Nevada Geothermal Power might be thought of as a solid example of how to make other clean power work to everybody’s advantage.
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