Thursday, March 17, 2016

Canada: Alterra Gives Update on Geothermal Energy Assets

Alterra Power's Executives on Q4 2015 Results - Earnings Call Transcript (Seeking Alpha)

Executives of Vancouver, Canada based Alterra Power give an update on the company's business last year and plans for the future.

Paul Rapp - Head of Geothermal and Wind Operations: "So both Svartsengi and Reykjanes plants performed well in 2015 and the overall production was 95.5% of plan for the year. Year to date we're 101% of plan. Highlights at the Svartsengi plant for the year included drilling of two new wells, Svartsengi 25 and 26, both of which are showing very promising indications for production. The holes were just recently completed and down haul logging and flow testing is underway in these holes and we expect at least one of these holes will be connected to the plant in 2016. There's ongoing construction at Svartsengi of a new discharge facility which will dispose of brine from the plant and this will allow for extraction of more geothermal fluid from the field and potential increase in power production from the plant as well."

"Over at Reykjanes we completed just in the last few weeks the reinjection pipeline that's been under construction for a while there and this connects the plant to the previously completed RN 33 and RN 34 well area. Reinjection has commenced into those wells and will be ramped up over the next short while to provide pressure support to the Reykjanes field."

John Carson - CEO: ".....we’ll also look at expansion on to our geothermal project we’ve long been discussing our Reykjanes plant and potential expansions there. There is one potential expansion the first portion of it which doesn’t involve drilling any new wells it's basically just adding on a binary power unit to the existing facility there and we’re currently working that one as well."

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