In a release, “Nevada Geothermal Power Inc. (TSX-V: NGP) announced it has been awarded two grants through the Department of Energy (DOE) under the American Reinvestment and Recovery Act Geothermal Technologies Program.

In July 2009, NGP submitted proposals under a DOE Funding Opportunity Announcement for cost sharing grants available for innovative exploration and drilling under the American Reinvestment and Recovery Act.

On October 29, 2009, NGP was granted US $1,764,272 Million for the Crump Geyser Geothermal Project and US $1,597,847 Million for the Black Warrior Geothermal Project. The DOE funding, combined with equal funding from NGP, is sufficient to conduct confirmation drilling to demonstrate the viability of geothermal resources at both projects.

“We are very pleased to be selected for the DOE cost shared funding because it helps us to fast track development for our geothermal projects – Black Warrior and Crump Geyser – and continue with our program of scalable growth,” stated Brian Fairbank, President and Chief Executive Officer.

The Company expects to outline its plans for its development of new projects in the near future.”

Source: Company release via Reuters