CanGEA releases 2nd edition of Member Project Database
CanGEA website snapshot
Alexander Richter
23 Oct 2010
The Canadian Geothermal Energy Association (CanGEA) announces launch of second version of the CanGEA Member Project Database, first published in May 2010. It provides a comparison of projects by the Association's members, based on common metrics by using the Canadian Geothermal Reporting Code terminology.
Released two days ago, “The Canadian Geothermal Energy Association (CanGEA) announces the launch of the second Version of the CanGEA Member Project Database. The CanGEA Member Project Database, first published in May 2010, has been welcomed by industry, the finance community, government, investors, and other stakeholders. The launch of Version 2 represents an important step in the development, and eventual mandatory implementation of the Canadian Geothermal Code for Public Reporting, which strives to establish a framework for the public reporting of geothermal energy information.
The CanGEA Member Project Database provides the first real common metrics comparison of CanGEA member geothermal projects by using Code terminology. The Database, like the Code, takes into consideration both geological knowledge and the application of business development considerations, known as “Modifying Factors”. The Database is an interpretation of public information, such as annual reports, website information and SEDAR reports, by the Canadian Geothermal Code Committee (CGCC). According to the Database, CanGEA members have 103 geothermal power and heating projects in development or producing worldwide, representing 1,091 MW of Inferred Resource, 210 MW of Indicated and Measured Resources, and 2,088 MW of Probable and Proved Reserves.
Brian Toohey, CanGEA Director and Co-Chair of the CGCC, had this to say about the Database, “We’re very pleased to be releasing the Second Version of the CanGEA Member Project Database. We believe that the Database is a very important step in the implementation of the Canadian Geothermal Code for Public Reporting. We hope that the Database will increase investor interest in the geothermal energy industry by providing a clear apples-to-apples comparison of our diverse member companies.”
The Database is available online at CanGEA’s website, www.cangea.ca. CanGEA and the CGCC encourage all interested parties to offer their feedback for future iterations of the report, as well as welcome any questions or comments. For more information on the Canadian Geothermal Code for Public Reporting please contact CanGEA.
Source: release via DigitalJournal
