USA, Nevada:

Nevada Geothermal May Transfer Declining Power Plant to Lender (Bloomberg)

Nevada Geothermal Power Inc. (NGP), the renewable-energy developer that received a U.S. loan guarantee, may transfer ownership of a Nevada power plant to a lender after projecting the facility will produce less power than expected.

Output at the company’s Blue Mountain geothermal field is projected to fall below 34 MWe this year and will decline to about 15 MWe by 2020, Vancouver-based Nevada Geothermal said today in a statement.

The declining capacity will reduce revenue from the plant and make it difficult, if not impossible, for the company to repay a mezzanine loan from EIG Global Energy Partners LLC, according to Andrew Studley, Nevada Geothermal’s chief financial officer.

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