Benelux_Infrastructure_Forum_171
16 December 2015 2015 12:49 AM GMT

U.S. Geothermal Inc. Acquires Majority Stake in 13-MMW Project

U.S. Geothermal Inc. has acquired a 95% stake in the 13-megawatt Raft River geothermal project in Idaho from Goldman Sachs for US$5.1 million.

U.S. Geothermal will receive 95% of the cash flow from the project on a going forward basis, along with all increased cash flow from any project improvements. The agreement includes an option to purchase the balance of Goldman’s interest for at the end of 2017.

The purchase price consisted of a US$3.5 million cash payment plus a promissory note of US$1.6 million that bears interest at 8%.

The Raft River Geothermal Power Plant is located in Southeast Idaho and has a designed capacity of 13MW. The project is currently operating at approximately 9.4MW. Power from the facility is sold under a firm price, 25-year contract with Idaho Power Company which allows for the full 13MW output.

“This agreement with Goldman Sachs is a strong positive for our company,” said Dennis Gilles, CEO of U.S. Geothermal. “It unlocks the ability to consider capital upgrades that should increase output from the facility and potentially reach its design capacity of 13 megawatts. It strengthens our commitment to becoming the North American leader in geothermal energy.”

August 5th 2017
Invenergy, GE Renewable Energy Announce 2GW Facility: Largest Wind Farm In US

Invenergy and GE Renewable Energy have announced a 2GW wind farm that will be the largest in the U.S. and second-largest in the world, once operational, in 2020. The Wind Catcher facility is under construction in the Oklahoma panhandle and will use 800 state-of-the-art GE 2.5 MW turbines. It will link more than 1.1 million customers with wind energy harvested domestically, saving them more than $7 billion, and will support 4,000 direct and 4,400 indirect jobs annually during construction and 80 permanent jobs once operational. “Wind Catcher shows American leadership in bringing low-cost clean energy to market at Giga scale,” said Invenergy’s Founder and CEO Michael Polsky.

August 4th 2017
Enel Awarded 339 MW Of Solar Capacity In Spanish Renewables Tender

Enel S.p.A., acting through its Spanish subsidiary Endesa’s renewable company Enel Green Power España (EGPE), has been awarded 339 MW of solar capacity in Spain. The award followed the tender aiming at collecting 3 GW from renewable energies, launched by the Spanish Government to help the country achieve its target to cover 20% of energy consumption from renewables by 2020. The solar capacity adds to the 540 MW of wind power capacity that EGPE was already awarded last May. “This new milestone confirms our commitment to green energy in Spain, a country which continues to offer growth opportunities for our renewable projects,” said Antonio Cammisecra, Enel’s Head of Global Renewable Energies.