A Typical Geothermal Power Plant
The Bureau of Land Management held its annual auction of geothermal land leases in Nevada yesterday auctioning off a total of 100,000 acres comprised of various sized parcels scattered throughout rural areas in eight counties. The 35 parcels went for a combined total of $28 million or an average of $380 an acre, surpassing the 2007 average of $91 an increase of more than 400%.
Nothing works as a better indicator of when a technology catches hold then when the finite resources available to produce it skyrocket in value. One of the big winners yesterday was Ram Power, Inc, a private corporation located in El Centro, California. According to reports, the company won more than a third of the available leases spending a reported $10 million.
A little research on Ram Power revealed a form Reg D filed with the Securities and Exchange Commission on July 30, 2008. We contacted Ram Power to congratulate them on their success at the auction and to discover if the company had plans, either immediate or long range to enter the public market with their stock.
We them at their El Centro, California headquarters and learned that Ram Power is, in fact a new company. Kristi, an Administrative Assistant with Ram-Power informed us that they were still getting things set up in their new offices. We wanted to know if Ram-Power had plans to go public as often times a Reg D private placement is a precursor to an IPO. Although we were promised a response, we have not received one as of yet but will let you know if we can look forward to having their stock added to our list of publicly traded geothermal energy companies.
For a new kid on the block, Ram Power sure pushed its weight around securing around 35% or the total dollar value geothermal leases this year. When asked for a comment on Ram Power’s new acquisitions, Stuart Johnson, a spokesperson for the company remarked “Some of the blocks went for millions of dollars today and this gives us the rights to spend more millions of dollars proving that there is a resource.” Johnson has been previously listed as a spokesperson for Ormat Technologies, Inc (NYSE: ORA) and with Caithness Energy LLC. Ram Power’s website is located at http://www.ram-power.com but is still in the “under construction” phase. Alt-EnergyStocks.com wants to be the first to welcome Ram Power, Inc. to the battle against OPEC oppression and for clean air.
Geothermal Plant
The significant increase in value of geothermal leases along with the evidence that the number of players in this specialized field is increasing with some gusto further confirms America’s renewed commitment to energy independence. In America, Nevada represents the mother load for geothermal resources and with enough energy stored beneath our land to power this country well beyond Armageddon, it’s encouraging to see we’re finally going to tap this clean renewable and highly reliable resource at a pace that befits its desirability.
