Business Wire, Oct 30, 2009
VANCOUVER — Nevada Geothermal Power Inc. (NGP) (TSX-V: NGP, OTC-BB: NGLPF)
announced today it has been awarded two grants through the Department of
Energy (DOE) under the American Reinvestment and Recovery Act Geothermal
Technologies Program.
In July 2009, NGP submitted proposals under a DOE Funding Opportunity
Announcement for cost sharing grants available for innovative
exploration and drilling under the American Reinvestment and Recovery
Act.
On October 29, 2009, NGP was granted US $1,764,272 Million for the Crump
Geyser Geothermal Project and US $1,597,847 Million for the Black
Warrior Geothermal Project. The DOE funding, combined with equal funding
from NGP, is sufficient to conduct confirmation drilling to demonstrate
the viability of geothermal resources at both projects.
We are very pleased to be selected for the DOE cost shared funding
because it helps us to fast track development for our geothermal
projects – Black Warrior and Crump Geyser and continue with our
program of scalable growth, stated Brian Fairbank, President and Chief
Executive Officer.
The Company expects to outline its plans for its development of new
projects in the near future.
About Nevada Geothermal Power Inc.:
Nevada
Geothermal Power Inc. is an emerging renewable energy developer
focused on producing clean, efficient and sustainable geothermal
electric power from high temperature geothermal resources, in the United
States. NGP currently owns a 100% leasehold interest in four properties:
Blue Mountain, Pumpernickel, Black Warrior, all of which are ideally
situated in Nevada and Crump Geyser in Oregon. These properties are at
different levels of exploration and development. NGP estimates a
potential of over 200 MW from the current leaseholds.
This Press Release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
plumbing