Magma Energy Purchases of a Further Interest in Icelandic Geothermal Energy Producer

According to the press release, “Magma Energy Corp. (TSX: MXY) announces that its wholly-owned subsidiary, Magma Energy Sweden A.B., today has closed a portion of a previously announced agreement to acquire further shares of Iceland geothermal company HS Orka hf. Magma Sweden now holds an 84.21% interest in HS Orka. The acquisition was originally announced [...]

Ram Power and Sierra Geothermal Power Enter Into a Definitive Agreement

According to the press release, “Ram Power, Corp. (TSX: RPG) (“Ram Power”) and Sierra Geothermal Power Corp. (TSXV:SRA) (“Sierra”) are pleased to announce that, in accordance with the letter of intent previously announced on June 1, 2010, they have entered into a definitive arrangement agreement whereby Ram Power will acquire all the issued and outstanding [...]

Magma Energy Reports Successful Soda Lake Flow Test

According to the press release, “Magma Energy Corp. (TSX:MXY) reports the successful flow test of Soda Lake production well 45A-33 which will provide 3 MW of net power. The well was drilled in June 2009 and, following a field optimization program, the flow test was completed in December. The recent test demonstrated the well to [...]

Philippines targets $2.5 billion geothermal development

According to Reuters, “The Philippine government aims to approve contracts to explore and develop the country’s massive geothermal energy resources, which could attract more than $2.5 billion in private investment, an official said. The Philippines, the world’s second-largest developer of geothermal energy, plans to approve 19 deals in the next five months to allow foreign [...]