Nevada Geothermal Power

The Department of Energy (DOE) recently announced a conditional commitment to provide a guarantee for a US$98.5 million loan by John Hancock Financial Services to the Nevada Geothermal Power Company (NGP) for a 49.5 megawatt geothermal project in Humboldt County in northwestern Nevada.

If geothermal power achieves its potential to become a significant contributor to the economy’s transition from fossil fuels to cleaner power, the best performers among these pure-play publicly traded companies will make their shareholders a lot of money: Ormat Technologies, Inc. (NYSE:ORA), Ram Power Corp. (TSE: RPG), Magma Energy Corp. (CVE:MXY), Nevada Geothermal Power Inc. (OTC:NGLP), and U.S. Geothermal Inc. (AMEX: HTM). 

Some special attention today for a handful of alternative energy companies that achieved share price increases yesterday in the face of the equity markets’ across-the-board decline: Biofuel Energy, Nevada Geothermal Power, Shear Wind, Lithium One, Fuel Systems Solutions, Oxford Catalysts Group PLC, Q-Cells SE, PV Crystalox Solar PLC, Aleo solar AG.

The United States Department of the Treasury awarded a $57.9 million federal grant to Nevada Geothermal Power (CVE:NGP).