Resource Pages

Oct 12, 2011

A U.S.-Backed Geothermal Plant in Nevada Struggles

NY Times  In a remote desert spot in northern Nevada, there is a geothermal
 plant run by a politically connected clean energy start-up that has relied heavily on an Obama administration loan guarantee and is now facing financial turmoil. The company is Nevada Geothermal Power, which like Solyndra, the now-famous California solar company, is struggling with debt after encountering problems at its only operating plant.  After a series of technical missteps that are draining Nevada Geothermal’s cash reserves, its own auditor concluded in a filingreleased last week that there was “significant doubt about the company’s ability to continue as a going concern.”