Mar 2 2010
Vulcan Power Company, a geothermal energy projects developer, has recommenced drilling at its Patua geothermal project site located near Fernley, Nevada. An amount of $108 million as second equity investment was received by the company earlier this month.
Robert Warburton, acting CEO of Vulcan Power Company, said the company will be utilizing the services of the most knowledgeable and experienced professionals in the geothermal industry to proceed with the project. He further said that with adequate financing already in place, the company will start taking advantage of the resources at the Patua project.
During the next 2 years, the company’s integrated team of construction, engineering, drilling, geo-science, cementing, and coring professionals will work to finish the Phase I of the Patua project. This project, which is capable of generating 60 MW of clean power, will be Vulcan Power’s first geothermal power generating facility. Initially, the company will focus its activities to assess the resource reservoir. The process for receiving transmission right-of-way and permission for the project is being done by the company.
Vulcan Power is planning to begin commercial operation at the plant during the first quarter of 2012. The company is at present in the final stages of talks to sign a 20-year contract to sell the entire output from the power plant.
Source: www.vulcanpower.com