A Micro-Cap Geothermal Sector Win

Investors won big on Thursday after an $85 million company received a $58 million grant. Toronto-listed Nevada Geothermal Power (OTC: NGLPF - News), which trades over the counter in the U.S., is up 11% today after the U.S. Department of the Treasury approved it for a $57.9 million grant in lieu of tax credits relating to the company's Faulkner 1 plant. NGP said the funds will be allocated to additional drilling and pipeline projects.The Faulkner 1 geothermal plant is currently producing 27 net megawatts of power at a sustainable rate. According to the press release, output will grow upon the addition of three deep wells. With additional fluid production, the company expects net output of the plant to reach 47 megawatts.The news isn't doing much to help other components of the Geothermal Stocks Index today. Currently, three of the Index's four components have market caps below $100 million, and they've all gotten smaller over the last month.Raser Technologies (NYSE: RZ - ...
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Nevada Geothermal Power Awarded Two Cost Share Grants for US$3.4 Million from the Department of Energy

VANCOUVER--(BUSINESS WIRE)--Nevada Geothermal Power Inc. (NGP) (TSX-V: NGP, OTC-BB: NGLPF) announced today it has been awarded two grants through the Department of Energy (DOE) under the American Reinvestment and Recovery Act Geothermal Technologies Program. In July 2009, NGP submitted proposals under a DOE Funding Opportunity Announcement for cost sharing grants available for innovative exploration and drilling under the American Reinvestment and Recovery Act.On October 29, 2009, NGP was granted US $1,764,272 Million for the Crump Geyser Geothermal Project and US $1,597,847 Million for the Black Warrior Geothermal Project. The DOE funding, combined with equal funding from NGP, is sufficient to conduct confirmation drilling to demonstrate the viability of geothermal resources at both projects.“We are very pleased to be selected for the DOE cost shared funding because it helps us to fast track development for our geothermal projects - Black Warrior and Crump Geyser – and continue with our program of scalable growth,” stated Brian Fairbank, President and Chief Executive Officer.The Company expects to outline its plans for its development of new projects in the near future.About Nevada Geothermal Power Inc.:Nevada Geothermal Power Inc. is an emerging renewable energy dev...
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Nevada Geothermal Power Applies for Federal Cash Grant for Faulkner 1 Geothermal Power Plant

VANCOUVER--(BUSINESS WIRE)--Nevada Geothermal Power Inc. (NGP) (TSX-V: NGP, OTC-BB: NGLPF) today announced that its US subsidiary, NGP Blue Mountain 1 LLC, has applied for a Cash Grant of US $57.9 million for the Faulkner 1 geothermal power plant under the American Recovery and Reinvestment Act of 2009. The Cash Grant has a value of 30% of the total eligible capital costs for the project and will be paid directly by the US Department of the Treasury. th, 2009, NGP‘s “Faulkner 1” th, 2009, and make payment within 60 days of this date.NGP will use the funds to reduce the outstanding TCW loan balance and/or fund the drilling proposed by the earlier announced GeothermEx modeling.About Nevada Geothermal Power Inc.:...
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Nevada Geothermal Power Inc. Issues Stock Options

VANCOUVER--(BUSINESS WIRE)--Nevada Geothermal Power Inc. (NGP) (TSX-V: NGP, OTC-BB: NGLPF) announced that incentive stock options have been granted to certain directors of NGP to purchase 200,000 common shares of the Company at an exercise price of CDN$1.22 per share for a term of 5 years. Common shares which may be acquired upon exercise of the options shall be subject to a hold period which will expire on February 16, 2010. About Nevada Geothermal Power Inc.: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 100% 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.NGP’s phase 1 development at ...
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Nevada Geothermal Power Inc. Announces Richard Campbell Stepping Down as Director of NGP

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 07/31/09) - Nevada Geothermal Power Inc. (NGP) (TSX-V:NGP - News)(OTC.BB:NGLPF - News) today announced that Director Richard Campbell has resigned effective immediately. In his recent move to a new position as VP of Engineering Technology with CH2M Hill, he is no longer able to serve as a board member. "The Board of Directors accepts Mr. Campbell's resignation with sincere appreciation for his strong contributions over the past four years. We wish him the greatest of success in his endeavors," stated Brian Fairbank, President & CEO, Nevada Geothermal Power Inc.About Nevada Geothermal Power Inc.: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 100% leasehold interest in four properties: Blue Mountain, Pumpernickel, and Black Warrior (all of which are ideally situated in Nevada), and Crump Geyser in Oregon. These properties, which are at different levels of exploration and development, are estimated to have the potential for the generation of over 200 MW.NGP's phase...
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