Geothermal

Nevada Geothermal Power Inc. (NGLPF) is pleased to report on recent flow and injection testing of Deep Blue No.2 (DB-2) which penetrated the upper reaches of the geothermal resource, and an eight-hole temperature gradient drilling program at the Blue Mountain project in Nevada. The program has provided positive information on production capability of the inferred resource and expanded the known extent of the thermal anomaly.

Nevada Geothermal Power Inc. (NGLPF) reported that the next phase of development is underway at its Blue Mountain Geothermal site, with drilling to deepen the Deep Blue 2 (DB2) well by an additional 700 metres (2,300 feet). "We are investigating a potential deep - hotter production zone that would make Blue Mountain's economics extremely robust," said Brian Fairbank President and CEO. "A deep high temperature resource would allow us to use more efficient and cost effective 'dual-flash' technology similar to the 60MW power plant at the Dixie Valley high temperature field in Nevada. A Monte Carlo simulation...

Ormat Technologies (ORA) announced that through a newly established project subsidiary, it has entered into a 25-year Power Purchase Agreement (PPA) with an electric utility according to which ORMAT will supply approximately 22 MW from recovered energy generation power plants. The power plants are to be constructed by ORMAT between 12 and 18 months from the effectiveness of the PPA. The power plants will be constructed on gas compressor stations along a Natural Gas pipeline in the Midwestern United States.

Shares of Calpine Corp. (CPN) suffered a greater than 20% loss yesterday and is now down almost another 13% today. All of this was caused by a court ruling stating that they will be unable to use the $395 million in cash they received from the sale of oil and gas fields earlier this year for the purpose of buying natural gas to run its power plants. The dispute stems from the Bank of New York's decision in September when, acting as trustee for Calpine bondholders, it withheld proceeds from Calpine's sale in July of North...

Ormat Technologies (ORA) announced that Ormat subsidiary, Puna Geothermal Venture ("PGV"), completed the re-drilling of an existing production well at the Puna Geothermal Project (the "Puna Project") located on the Big Island, Hawaii. The well re-drilling increased net generating capacity of the power plant by approximately 4 MW, bringing total net generating capacity to approximately 29 MW.

US Geothermal Inc. (UGTH) has initiated a contract with Ormat Technologies (ORA) to begin building a binary cycle geothermal power plant that is designed to deliver 10 MW monthly average electrical power to Idaho Power Company under a 20-year term power purchase agreement.

Ormat Technologies (ORA) announced that the customer rendered final approval of the Purchase Order valued at approximately $16.9 million, for the supply of 102 remote power units for Communications and Cathodic Protection along a pipeline on the Sakhalin Island in the Russian Federation, as described in the press release dated December 9, 2004, and the Purchase Order became a definitive agreement.

Ormat Technologies (ORA) has entered into a 20-year power purchase agreement with Puget Sound Energy Inc. for the supply of power from a Recovered Energy Generation System (REGS), which will be located adjacent to the Sumas Compressor Station of Northwest Pipeline Inc. (NWP) in Sumas, Washington State. The REGS will be owned by Orsumas and will use recovered waste heat from three NWP existing gas turbines driving compressors at the station, as well as interconnect to Puget Sound Energy's transmission grid. The facility will employ an ORMAT ® Energy Converter (OEC) and will have a design capacity of...

US Geothermal Inc. (UGTH) announced today that the company has met requirements for a listing on the OTC Bulletin Board, as confirmed by J Giordano Securities Group of New York City, market maker for the company's securities. US Geothermal holds the rights to approximately six and one-half square miles, which comprise the Raft River project development in Southeastern Idaho, a geothermal reservoir that was a former US Department of Energy geothermal research facility.

Nevada Geothermal Power Inc. (NGLPF) reported the completion of a geophysical survey at the Pumpernickel geothermal project in Nevada. The project is managed by Nevada Geothermal Power Company (a subsidiary of NGP), as Exploration Manager. The final report is pending, however a preliminary assessment of the data shows that the survey successfully defined the contact between the valley fill and the basement rocks, and most importantly it established the positions of valley faults and their relationship to the geothermal system. The data showed a good correlation with the 2005 resistivity data. The combined data will aid significantly...

Raser Technologies (RZ) announced a definitive agreement to acquire Amp Resources ("Amp"), a private company with technologies focused on geothermal heat and power generation. The deal is for about $260 million in cash and stock. Raser will acquire Amp and its portfolio of technologies for heat transfer and renewable power generation. Raser will also assume ownership of multiple, long-term geothermal energy sales contracts with public and private utilities. These contracts call for an aggregate of $966 million from gross energy sales over 20 years. It is anticipated that these power generation projects will be developed and placed...

Ormat Technologies (ORA) announced that two of its subsidiaries have entered into Supply and Engineering Procurement contracts for a new geothermal power plant to be constructed on Sao Miguel Island in the Azores. The contracts are for a total of 19,151,422 Euro (approximately $25 million), with construction on the power plant expected to be completed within 19 months from the contract date.

Nevada Geothermal Power Inc. (NGLPF) reported that exploration work at the Pumpernickel Geothermal Project (5710 acres/8.92 square miles) is underway. In Phase I - 3D "E-SCAN", resistivity survey methods will be utilized to map the deep geothermal source waters feeding surface hot springs. Results are expected in four weeks. Subsequently a series of six 250-meter (820 foot) gradient wells will be drilled to test the interpretation of the E-SCAN survey.

Ormat Technologies (ORA) announced that an Ormat subsidiary signed an agreement to purchase from CDC Group plc., a 14.09% partnership interest (13.67% on a fully diluted basis) in Orzunil I de Electricidad, Limitada (Orzunil), which owns the Zunil Geothermal Project in Guatemala. CDC Group's investment in this project has been managed by Globeleq, an emerging markets power company. As a result of this acquisition, Ormat's annual net income from the Zunil project is expected to increase by approximately $0.6 million on a full year basis.

Ormat Technologies (ORA) broke ground today on the first geothermal electric generating plant to be built at Steamboat, Nevada since 1991. Known as the Galena Geothermal Project, when completed the plant will be added to the existing Steamboat geothermal plants and bring the total output from this geothermal complex to 44 megawatts of electricity through a process that extracts and re-injects the hot geothermal waters from the ground. One megawatt of electricity can supply energy up to approximately 1,000 typical homes in the area.

Ormat Technologies (ORA) said it has agreed to buy a 50.8 percent partnership interest in Orzunil I de Electricidad Ltd., owner of a geothermal plant in Guatemala, for $14.8 million. The Zunil project includes one power plant with a capacity of 24 megawatts that is expected to generate $12.5 million in revenue next year and boost Ormat's net income by $1.9 million in 2006.