"At WGP Geysers our final design engineering for the plant continues and we’ve received bids for all of the major pieces of equipment, which allow us to improve the accuracy of our capital cost estimates.
"The key to success at Geysers is our ability to get a PPA and that is our number one focus. As new request for offers come out in California we will be submitting the project to them. There is no fixed schedule of when the numerous offtakers will be asking for power, but we track them all and will respond when our project fits the request.
"As we’ve progressed our engineering and operating cost estimates, we’ve enabled to sharpen our pencil on PPA price and remained confident that we will be successful. The California market is ever-changing and in general we see it moving back toward valuing baseload renewable energy as they increase our overall renewable energy procurement moving toward their 50% RPS requirement. We’re in a great position at the Geysers. We’re the only geothermal project that has the Cal-ISO interconnection approval in the entire state of California."
