Nevada Geothermal Says Updated Resource Estimate Predicts "Significantly Lower Power Output" for Blue Mountain (NASDAQ)
Nevada Geothermal Power Inc. reports that an updated resource report describing a completely recalibrated numerical simulation model and outlook projection prepared by independent consultant
GeothermEx Inc. for the
Blue Mountain geothermal field predicts significantly lower power output, as compared to projections outlined in an October 2011 report, also prepared by GeothermEx. Base case projections assume the current configuration of production and injection wells operating at their current flow rates without further investment.
Base case temperature declines are projected to be on the order of 8 degrees F/yr in the near-term rather than declines of around 3 degrees F/yr as projected in the 2011 GeothermEx report, and power output is projected to fall below the currently nominated average supply amount of 34 MW this year decreasing to about 15 MWe by 2020.
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