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Saturday, May 31, 2014
IDG Geothermal Scammers Could Score $0.195 per Kwh Sandwich Profits
By Selected News Articles @ 5:03 AM :: 4421 Views :: Energy, Ethics, OHA, Cost of Living

The Gisborne, NZ Herald has once again let slip with some info about Unity House felon Roberta Cabral's IDG geothermal scheme....

From the Gisborne Herald, May 31, 2014 (excerpts)

...NEW Zealand’s first Consul-General in Honolulu has invited Gisborne, NZ-based Eastland Group (the partner of IDG) to talk about whether he could assist their efforts to break into the Hawaiian energy market.

At the end of last year, Eastland Generation Ltd made an undisclosed bid, as a 20 percent partner with Hawaii-based IDG, to Hawaiian Electric Company (HELCO) to build a 25 MW plant on Hawaii.

Repeated delays, however, have left the company in the dark as to when a decision on the bid process might be made.

Former Hong Kong Consul-General Robert Kaiwai took up the post of New Zealand Consul-General in Honolulu earlier this week. The former East Coaster said although he was not privy to details about Eastland Group’s bid, he was aware of its attempts to do business in the US state.

“They should get in touch with us. Then we can work with them and figure out how we proceed,” he said. “These are the sorts of things we step in and try to assist them where possible.”...

Eastland Group chief executive Matt Todd said the final award for the plant had been delayed for several reasons, “not all of which the group has complete visibility into”.

However, the announcement that a new New Zealand Consul-General had been appointed to Hawaii was encouraging.

“We are aware the Consul-General has been appointed and would clearly leverage their support....

Because 90 percent of Hawaii’s electricity comes from fossil-fuel-fired plants, operating in the US state was “commercially a lot more attractive’’ than competing in New Zealand, he said.

“In New Zealand we are trying to make new geothermal power stations work, competing with other forms of generation at probably 7.5 cents per KWh.

“Over there we are competing against predominantly oil-fired generation at 27 cents.”  (Translation: $0.195 per kwh in Sandwich Profits)

Reality for those who can handle it: After Receiving Campaign Cash, OHA Trustees Give $1.25M to Insolvent Geothermal Company

More Reality: Solomon Pushes for Approval of Mililani Trask's Overpriced Geothermal Contract

read ... Ca-Chinnnng!

  *   *   *   *   *

IDG Geothermal Partner Underpays Maoris to Fund Hawaii Scheme 

GH: Is the $4.8m dividend paid to ECT, a 32 percent payout ratio, a sufficient return? It probably is over the near-term as the group invests heavily in its assets here, but at some stage the trust should demand a better yield. It might then come up against plans by the group to grow its geothermal business in Bay of Plenty and Hawaii. That’s a debate all Tairawhiti people should feel they have a stake in.

read ... About what IDG Means by Indigenous to Indigenous Model, LOL!

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