|
NEWS
RELEASE
DATE: APRIL 9,
2008
FOR IMMEDIATE RELEASE
TRADING SYMBOLS: TSX-V (Canada):
WGP.V FRANKFURT: WE6.F
GEYSERS PLANT
CAPACITY INCREASED TO 35 MWe � TURBINE ORDERED
VANCOUVER, Canada,
April 9, 2008, TSX Venture Exchange Trading Symbol: WGP � Western GeoPower
Corp., a renewable energy development company, is pleased to announce that a
review by independent consultants GeothermEx, Inc. has determined that the
optimum capacity for the Western GeoPower Unit 1 project at The Geysers
Geothermal Field in California is 35 MWe (gross), following the acquisition
in July 2007 of the 413 acre Abril Ranch leasehold. As a result, the Company
has signed an agreement with Fuji Electric
Corporation of America (�Fuji�) for the supply of one 35 MW Top
Exhausting Geothermal Condensing Steam Turbine Generator Unit for delivery to
the Unit 1 project site in August 2009.
A
feasibility report by GeothermEx in October 2006 projected the Unit 1
leasehold, then comprising approximately 600 acres, would support a 28 MWe
(gross) power plant. The Abril leasehold acquisition increases the Western
GeoPower holdings to 1,017 acres. An examination of earlier production
records from the Abril leasehold showed the Abril 1-1 well as having an
initial capacity of 7 MW, supplying steam to the original PG&E Unit 15
plant for 16 months, until the plant�s decommissioning in 1989. Another well,
Abril 5B-1, located over 1 Km (0.6 miles) to the northwest of Abril 1-1, did
not encounter steam, but showed a much higher bottom-hole temperature of
290�C (554�F) compared to all other wells in the overall WGP leaseholds,
implying the presence of a yet-unexplored liquid reservoir below the steam
zone. The Abril 5B-1 well will be examined in greater detail during 2009 to
explore the potential for a greater reserve base for the current proposed
plant or the potential for a second power plant.
The
selection of Fuji as the supplier of the turbine generator followed a
competitive bidding process under a Request For Proposals prepared and
coordinated by POWER Engineers, Inc. of Hailey, Idaho, a world leader in
geothermal power plant design and engineering.
�Fuji
has successfully delivered over 500 steam turbine generator units to the
worldwide market, totaling almost 31,000 MWe of power generation, including
1,850 MWe of geothermal power generation� said Koji Yasuda, Vice-President of
Fuji Electric Corporation of America. �We are
pleased to have been awarded the contract to supply Western GeoPower and to
continue our long relationship with The Geysers field.�
�Fuji has earned a solid
reputation over many years with the plant operators at The Geysers and around
the world,� said Kenneth MacLeod, President and CEO of Western GeoPower. �Our
selection of the Fuji turbine was based on a combination of turbine
reliability, cost competitiveness and delivery schedule.�
The Geysers geothermal
field, located 75 miles north of San Francisco, California, is the largest
producer of geothermal electricity in the world. Commercial geothermal power
has been generated continuously at The Geysers field since 1960, the present
generation level being about 900 MWe of clean, baseload electricity. Western
GeoPower's Unit 1 project is situated in the south-western region of The
Geysers field in Sonoma County.
Western GeoPower Corp. is a
renewable energy company dedicated to the development of geothermal energy
projects for the delivery of clean, sustainable, baseload electricity
generation. The Company is developing The Western GeoPower Unit 1 geothermal
power plant at The Geysers Geothermal Field in California, United States and
the South Meager Geothermal Project in British Columbia, Canada.
On behalf of
Western GeoPower Corp.
�Kenneth MacLeod�
Kenneth
MacLeod, President & CEO
Cautionary Note Regarding
Forward-Looking Statements
Statements in this release
that are forward-looking are subject to various risks and uncertainties
concerning the specific factors identified above that reflect the Company�s
expectations and projections about its future results. The
Company has tried whenever possible to identify these forward-looking
statements which include but are not limited to, words such as �anticipates,�
believes,� �estimates,� �expects,� �plans,� �intends,� �potential,� and
similar expressions. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in the
forward-looking statements. Investors are cautioned that any such
statements are not guarantees of future performance and that actual results
or developments may differ materially from those projected in the
forward-looking statements. The Company disclaims any obligation or
intention to update or to revise any forward-looking statement, whether as a
result of new information, future events or otherwise. Such information
contained herein represents management's best judgment as of the date hereof
based on information currently available. This news release is not for
dissemination in the United States of America or to United States of America
news services.
The
TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release. For more information or to be put on our email
list, please contact our office: (604) 662-3338 or US/Canada Toll Free:
1-866-662-3322, email: info@geopower.ca Investor Relations: IR@geopower.ca
|