Sierra Geothermal Power with Q2 results
Alexander Richter
17 Ağu 2009
Canadian Sierra Geothermal Power (SGP) provides its Q2 results 2009 and provides details about recent activities, including DOE grant application, drilling permit for Alum project in Nevada and the completed acquisition of Cayley Geothermal Power.
In a recent release, Sierra Geothermal Power (SGP) provides its Q2 results 2009.
Key highlights: The company applied for approximately US$46.1 million in US Government grants, ended the second quarter of 2009 with $2.9 million of working capital, completed a $3.78 million financing subsequent to the end of the quarter, received a favorable environmental assessment decision and drilling permits for its Alum geothermal power project in Nevada, completed the acquisition of Cayley Geothermal Power Corp., and the company strengthened the Board of Directors with the addition of Jerry Evans, Managing Partner at Aurion Infrastructure Inc., a company investing in North American mid-market infrastructure opportunities
“During and subsequent to the second quarter, investor interest in our company and the geothermal industry accelerated,” said Gary Thompson, President and Chief Executive Officer of Sierra Geothermal. “We believe we are well-positioned to benefit from this renewed interest, especially given the potential for significant US government grants to be awarded later this year, and available tax incentives and loan guarantees for geothermal projects. With our $3.78 million financing completed earlier this month, we are ramping up to complete power purchase agreements and related transmission studies, along with drilling and geophysical activities at our two most advanced projects, Silver Peak and Reese River.”
For the complete release see link provided below.
Source: Company release via PR-USA
