Davenport Resources develops, manages and acquires renewable energy projects and portfolios. In 1997, it formed Davenport Power, LLC, an independent electric power company with investments in renewable geothermal energy projects in Oregon (30 MW – Phase One) and Hungary (65 MW – Phase One). Both geothermal fields already have drilled a steam discovery well and are in early development stages with industry partners.
For information on Davenport Power, please visit www.davenportpower.com
At left, an artist’s rendition of a geothermal plant generating power.
source: Geothermal Education Office, Tiburon, CA.
A cutaway view of the earth’s layers shows hot magma from below, boiling the subterranean reservoirs of water into steam which, in turn, can be converted by geothermal electrical plants at the surface. At left, a discovery well is drilled to hot water zone for producing electricity.
Newberry Volcano, Oregon
Davenport Power, LLC is the Project Operator and a co-owner of this world class geothermal field in central Oregon. In July 2006, Davenport Power, LLC on behalf of Northwest Geothermal Company signed a 20-year power sales agreement with Pacific Gas & Electric Company, a major west coast utility. The agreement involves selling between 60 and 120 MW of electricity from a proposed geothermal power project on the western side of the Newberry Volcano.
Drilling preparation and environmental work began in 2006 and the first 30 MW of the project is scheduled to achieve operating status in late 2009. The second 30 MW is scheduled to begin operating in 2010 and, provided that expected resource and transmission service are available, the remaining 60 MW of the project is scheduled for 2011.
At left, a view of the Company’s extensive lease position at Newberry Volcano, Oregon.
The Newberry geothermal leases have been extensively drilled and explored. The field is potentially large, based on hot temperature gradient holes and a superheated steam well, with hundreds of megawatts of geothermal power potential.
For more project information, please visit www.newberrygeothermal.com
Geothermal steam at Newberry Volcano, Oregon. The well is approximately 1000 meters from Company owned leases.
Pannonian Geothermal Project, Hungary
Davenport was a cofounder and has a majority position in Hungary’s first geothermal power company, formed in 1997. MOL (the Hungarian national oil company) is Davenport’s partner in the Budapest-based Hungarian-American Geothermal Company. Davenport Power is the geothermal field Operator. Two high temperature steam wells have been drilled by MOL in the project’s concession area. The project is in the early stages of development of its 65 MW first phase. The field contains up to 400 MW of renewable power potential. A market quota for renewable power has been mandated by the European Union and prices have become competitive.
Steam wellhead in Hungary.
Other Power Projects and Technologies
Davenport adds to its renewable energy generation capacity and contributes to power sector technology innovations by its own direct investments and through its managed funds.
Budapest. Headquarters seat of Davenport’s Hungarian American Geothermal Company.