The Bakersfield Californian, one of California’s leading newspapers, published a very interesting article about two multimillion-dollar renewable energy projects being developed in Kern County, California, USA. One of these projects is the Global Green Solutions’ (GGRN – $0.14) Greensteam project at Aera Energy, one of California’s largest oil and gas producers.
If you haven’t read the article yet, we strongly advise you to do so, as there are a number of very interesting items in it. For instance the part about Mt. Poso Cogeneration Co., the other project mentioned in the article. This 50-megawatt-per-hour plant currently creates steam by burning coal and petroleum coke, but will soon be converted to a biomass plant because the new Californian emissions regulations would almost certainly shut down the coal-fired operation.
Additionally, the Mt. Poso facility was recently bought by Pacific Gas and Electric Co. to help them meet Gov. Schwarzenegger’s executive order to produce 33 percent of California’s energy from renewable sources by 2020.
A second item we want to emphasize on in the article is the part where it says: “Farmers are generally happy to sell or give away biomass they used to incinerate out in the open …”. The reason for this is that the strict Joaquin Valley Air Pollution Control District has implemented a gradual prohibition of open burning of tree crop biomass and more recently higher costs to landfill.
The point we’re trying to make here is that slowly but surely across North America and Europe the balance between traditional and renewable heat and power energy is tipping in favor of the latter, because with current legislation being implemented and air emissions becoming even stricter, companies that don’t or can’t comply will be faced with significant financial and operational penalties.
It’s only logical Global Green Solutions is experiencing growing interest in its Greensteam technology as its applications make it possible for agricultural and energy companies to gain mutual benefit in the renewable energy market.
The Greensteam biomass to steam demonstration project at Aera Energy recently entered into the construction stage after a two year period of project development, testing, permitting and funding. Following successful operational and air emissions testing in a few months, ten full size steam generating units will be constructed at the Aera Energy oil and gas field over the next 2 years. These will replace Aera’s current natural gas fired steam generators.
We believe we have a winner on our hands with Global Green Solutions. The gradually increasing stock price from $0.10 to $0.14 over the past couple of weeks is just an indication of smart investors coming aboard.
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