Nevada Geothermal Acquires Project Land

[] Nevada Geothermal Power (NGP) has acquired 7 square miles of private land and has applied for a one section federal geothermal lease for a total land area of 8 square miles (22 square kilometers) south and east of Black Warrior Peak, Washoe County, Nevada. The Black Warrior Project is located within a prolific power producing region of Nevada which encompasses the Brady, Steamboat, Soda Lake and Stillwater Power Plants having an aggregate geothermal production capacity of over 100 MW, according to NGP. Four separate power transmission lines cross the region with the convenient interconnections for power from Black Warrior at Marble Bluff substation 5 miles (8 kilometers) west on a 60 kV line or Brady Hot Springs substation 12 miles (20 kilometers) southeast along a 120 kV line. The acquisition of Black Warrior fits well into the company’s strategy of acquiring additional geothermal projects prior to an introduction of a Production Tax Credit for geothermal and other green power technologies such has been already available to the US wind power industry. The leases are on private land and are subject to a 3.5 percent royalty on gross revenue from electricity sales, however, NGP can purchase the royalty for US$1,000,000. Leases include surface and water rights.
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