And the Winner Is...Ormat Buys Geothermal Exploration Rights on Alaskan Volcano
Just a quick update to a post done back in July on the geothermal exploration rights on several Alaskan volcanoes being put on the auction block. Mount Spurr, a snowcapped 11,070 foot tall volcano about 75 miles west of Anchorage was the first one up and Ormat Technologies is the lucky winner.
The Reno, Nevada-based company paid $3.3 million for the right to investigate the geothermal power potential of 15 of the 16 tracts being offered for lease on Mt Spurr, Cleantech reports.
I just love the understatement used by Ormat in talking about their plans:It Is An Active Volcano...
I just love the understatement used by Ormat in talking about their plans: While the company has said that exploring in an active volcanic region means finding a large geothermal field is more likely, Ormat chairman Lucien Bronicki said, "Alaska is a new frontier in the geothermal arena with many technological and logistical challenges."
Logistical challenges? Active volcanic region? My fingers are tenting nervously...
Mount Spurr most recently erupted in 1992, but considering that by some estimates up to 25% of Alaska's energy needs could be met by geothermal power Ormat apparently thinks the risks and potential payoff is worth it.
via : Cleantech
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