Credit crunch impacts geothermal industry
Executives of companies that generate electricity from earth’s hot water resources often say that power in the ground is like money in the bank.
But tapping the credit and equity markets these days is proving just as difficult as drilling into geothermal resources.
Geothermal companies that rely on outside investors to power exploration programs have had to rethink their plans.
“It will take creativity and flexibility for the industry to meet the new economic conditions,” said David West, vice-president of marketing at Raser Technologies, during a break at a major geothermal industry conference in Reno last week.
Utah-based Raser holds three projects in central Nevada’s Smokey Valley. West said strong demand for renewables remains a positive for the industry. Read full story:
Technorati Tags: Pat Patera, Northern Nevada Business Weekly, David West, Raser Technologies, Sierra Geothermal Power Inc., Toronto Venture Exchange, Gary Thompson, Mark Albert, Vulcan Power Co., Denham Capital, Kerry Hawkley, U.S. Geothermal Inc., NCET, Nevada’s Center for Entrepreneurship and Technology
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