In news on the relocation of its corporate headquarters to Reno, Nevada, Vulcan Power also announces a rebranding to Gradient Resources. There is a company in Australia called Gradient Energy, which was acquired by Planet Gas in 2009, but does not relate to the new name of Vulcan Power.

“As Vulcan, the company was founded in Bend, Oregon, in 1991. It now has leasehold properties covering around 170,000 acres of private and federal land in Nevada, California, Oregon, and Arizona, as well as six geothermal power projects in “advanced” development.

Now as Gradient Resources, it employs 101 people in Nevada, with geothermal projects underway near the towns of Fernley, Fallon, Hawthorne and Lovelock.

Gradient is expecting its Patua site, near Fernley, to be its first operational power plant. Phase I drilling began in February 2010, with construction of a 60MW generation system set to begin in early 2011.

The developer is expecting the facility to provide around 500 gigawatt-hours of power each year, eventually ramping up to 1,000GWh per year.

Craig Mataczynski, CEO of Gradient Resources, said: “The state of Nevada has a tremendous geothermal resource and access to attractive energy markets where there is a strong demand for electricity produced from geothermal resources.”

Mr Mataczynski said his company would be bringing 300 megawatts of geothermal energy capacity in Nevada over the next five years, with expectation of creating 1,000 construction jobs and 80 permanent jobs.

The Gradient Resources CEO added: “As a company dedicated to developing a clean and reliable energy source for the country, Nevada is the right place for us to call home.”

According to Gradient, the state of Nevada could potentially generate more then 3,000MW of electricity from the heat locked up underground.

The state currently boasts 20 power plants generating around 430MW of power, but has 86 development projects underway.

“Projects like this are exactly what we had in mind when we passed the Economic Recovery Act,” said Nevada Senator Harry Reid, the Senate Majority Leader. “I applaud Gradient’s move to Nevada and look forward to working with them as we continue to take advantage of tax incentives that are helping us put Nevadans back to work and diversify the economy.”

Source: BrighterEnergy

1 Comment

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