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Western Geopower Corp

Published : April 09th, 2008

GEYSERS PLANT CAPACITY INCREASED TO 35 MWe – TURBINE ORDERED

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TSX Venture Exchange: WGP.V

Frankfurt Exchange: WE6.F

USA OTCBB: WGPWF

 

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

 

 

 

 

 

 

Western Geopower Corp

CODE : WGP.V
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Western Geopower is a development stage company based in Canada.

Western Geopower is listed in Canada and in Germany. Its market capitalisation is CA$ 49.1 millions as of today (US$ 48.8 millions, € 32.6 millions).

Its stock quote reached its highest recent level on December 31, 2004 at CA$ 2.13, and its lowest recent point on October 10, 2008 at CA$ 0.12.

Western Geopower has 233 652 000 shares outstanding.

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Financings of Western Geopower Corp
6/24/2009$3.71 Million Warrants Exercise
Nominations of Western Geopower Corp
2/15/2008Mike Long Appointed Operations Manager
6/1/2007appointment of Thomas S. Drolet to the Board of Directors
Corporate news of Western Geopower Corp
9/2/2009resignation of Kenneth MacLeod as President
7/15/2009Preliminary results of reservoir modeling
6/26/2009Welcomes new directors
5/28/2009Change in directors of Western Geopower
5/15/2009View the Shades of Green Episode
5/5/2009The Discovery channel is showcasing a topic that matters to ...
5/6/2009Aquires second geothermal reservoir in California
4/22/2009South Meager testing demonstrates potentially commercial per...
2/18/2009Kenneth MacLeod Interview - BNN's Trading Day
1/27/2009SECURES ADDITIONAL US$11 MILLION SECURED LOAN FACILITY
2/6/2009Turbine Update
1/21/2009Obama's Economic Stimulus Plan - How will it benefit us?
1/6/2009DRAWS DOWN SECOND TRANCHE OF US$8.52 MILLION UNDER ITS SECUR...
1/6/2009COMPLETES FIRST PHASE OF GEYSERS DRILLING
11/27/2008DON J. A. SMITH APPOINTED AS INTERIM CHIEF FINANCIAL OFFICER
11/10/2008SECURES US$11 MILLION SECURED LOAN FACILITY
10/23/2008DRILLS 50% OF STEAM RESOURCE WITH 3 WELLS
10/20/2008WESTERN GEOPOWER CLOSES FIRST TRANCHE $10.6 MILLION FINANCIN...
9/2/2008FIRST TWO GEYSERS WELLS DEMONSTRATE 12.6 MW INITIAL CAPACITY
8/7/2008ANNOUNCES $25 MILLION FINANCING
5/20/2008SIGNS $500 MILLION POWER PURCHASE AGREEMENT WITH NCPA
5/6/2008GEYSERS WELL DEMONSTRATES 10 MW INITIAL CAPACITY
4/24/2008Geysers "Rig Test" Indicates Commercial Well
4/10/2008LAUNCHES OPERATIONS IN CHILE
4/9/2008GEYSERS PLANT CAPACITY INCREASED TO 35 MWe – TURBINE ORDERED
3/31/2008CEOCFO Interview
7/5/2007's Geysers Leasehold Expanded to Over 1,000 Acres
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TSX-V (WGP.V)FRANKFURT (WE6.F)
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