14 December 2015 2015 03:23 AM GMT

U.S. Geothermal Inc. Applies to Delist Shares From TSX

U.S. Geothermal Inc. has applied for the voluntary delisting of the company’s shares from the Toronto Stock Exchange, but said its its shares will continue to trade on the NYSE market.

“The decision to voluntarily delist from the TSX is due to the very limited trading volume of the company’s shares on the TSX over a sustained period, with more than 97% of trades in the company’s securities over the past 24 months occurring on the NYSE, and only 3% occurring on the TSX,” U.S. Geothermal Inc. said in a statement. The delisting from TSX is expected to take effect as of the close of trading on December 31, 2015.

“We are executing our growth strategy which is very focused on delivering value to our shareholders.” said Dennis Gilles, CEO of US Geothermal. “We are also examining all costs and expenses and this is a prudent step which will favorably impact our bottom line.”

Following delisting from the TSX, the company intends to apply under Canadian securities laws for an order that it cease to be a reporting issuer in Canada. U.S. Geothermal Inc. has a total power generation of approximately 45 megawatts for a portfolio of assets. It has a number of projects in development stages, and expects installed capacity to reach 200 MW by 2020 through a combination of internal development and strategic acquisitions.

October 16th 2017
Nordex Adds To Successes In Argentina, Winning 100 MW Pomona Wind Farm Order

The Nordex Group has added a further chapter to its success story in Argentina with an order for 26 N131/3900 turbines for the “Pomona” wind farm. The contract will be executed on a full EPC basis, including civil and electrical engineering, procurement, construction and manufacturing, delivery and installation of the wind turbines. Preparations for construction will be commencing in 2017, after which the wind power systems will be installed at the beginning of 2019. In addition, a ten-year full operation and maintenance contract has also been signed. 

October 16th 2017
Uganda Inaugurates Breakthrough Tororo PV Plant. A Future Model For Africa?

Production has commenced at the Tororo PV power plant; which, with 16 GWh of renewable energy generated annually, will cater for the energy requirements of 35,838 people and help reduce CO2 emissions by 7,200 tons. Overall, $19.6 million was invested to build the 10 MWp plant, with the engagement of several major organisations including KfW and FMO Development Banks, the World Bank and the EU. Attilio Pacifici, EU Ambassador said, “One of the key objectives of this plan is to encourage private sector participation in higher risk investments and we’re happy to demonstrate that Uganda is well positioned to be successful and a good model for replication.”

September 15th 2017
Ministerial Meeting Gathers in Italy To Scale-Up Geothermal Energy Worldwide 

Leaders and ministers from more than 25 governments will meet in Florence, Italy on 11 September, to accelerate the global adoption of geothermal energy. The Global Geothermal Alliance (GGA) meeting is the largest such ministerial gathering dedicated to geothermal energy development. Geothermal energy today accounts for just 0.3 percent of globally installed renewable energy capacity. However – once start-up costs are met – it is one of the lowest-cost and most reliable renewable energy sources available. The global potential for geothermal is estimated to be in the region of 200 GW.


 

   

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