Podcast on Geothermal on Renewable Energy World

Alexander Richter 6 Nov 2009

In its latest podcast, Stephen Lacey of Renewable Energy World is looking into Geothermal, and that it is “not just about drilling holes.”

The podcast includes a news piece on the recent DOE funding for geothermal research and development of US$ 338 million talking with Dr. Lisa Shevenell of the Great Basin Center for Geothermal Energy. (time in interview 5:28-7:05)

The featured geothermal piece on Magma Energy, its activities and investment in Iceland starts at 7:14 and runs to 21:41. It interviews Frank Monastero of Magma Energy and Alexander Richter of Islandsbanki and ThinkGeoEnergy.

“It takes a lot of time and money to build out a geothermal project. Developers can spend millions of dollars and many years just to drill a test well and find a viable resource. Due to the high capital expenditures needed to get a project moving, there are a lot of variables that can impact a project. In this podcast, we’ll look at some of the technical, financial and cultural issues that can affect geothermal companies.

Frank Monastero, President of Magma Energy Corp. and the Geothermal Resources Council, tells us about how Magma is expanding around the U.S., South America and to Iceland, despite the still-tight financial markets. That expansion has also brought a lot of challenges for Magma, including some resistance to the company’s presence in Iceland.

Alexander Richter, Director in the Geothermal Energy Team Islandsbanki, describes why some Icelanders have raised concerns about a foreign company like Magma owning Icelandic energy assets. He’ll also talk about the need for private investment in the country’s geothermal sector in order to help Iceland rebuild its tattered economy.”

Source: Renewable Energy World “Geothermal: It’s not just about drilling holes” (actual Podcast)