3 Green Stocks Poised To Double: US Geothermal (HTM), BioteQ Environmental (TSX:BQE) & Mystery Wind
By Jeff Siegel of GreenChipStocks.com
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A Sleeping Giant
From time to time, you may find me referring to geothermal energy as the sleeping giant; it is an extremely powerful form of renewable energy that often gets overlooked. Let’s face it, solar and wind are a lot more visible than geothermal wells in the Nevada desert.
But geothermal does have one bragging right — a very important bragging right — that solar and wind can’t touch: it can run 24 hours a day, 7 days a week. In fact geothermal power plants typically run at 89% to 97% uptime. Not even coal or nuclear power plants can boast those figures.
Now there really are only about a half dozen pure play geothermal companies out there. And only about half of those actually have operational power plants in place and are generating revenue. One in particular is U.S. Geothermal (AMEX: HTM).
U.S. Geothermal currently has two geothermal power plants in operation, both of which are sending power to the grid and generating revenue right now.
One is a small operation in Washoe County, NV, where Sierra Pacific Power Company purchases the power under a power purchase agreement that continues until 2017.
The other is in Raft River, Idaho. This is actually the only geothermal power plant in the Gem State. It’s also the site where the company — along with the DOE — is testing a new geothermal technology that could increase geothermal’s generating potential by 40 times. This is huge!
U.S. Geothermal landed $10 million from the DOE for that deal.
The company is also developing a new project in eastern Oregon. Development of this project is well underway, and a 25-year power purchase agreement has already been signed with Idaho Power Company
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