May 2008
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Nevada Geothermal Power Inc.
This PowerPoint presentation contains certain forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. We have tried, whenever possible, to identify these forward-looking statements using
words such as "anticipates," "believes," “estimates," "expects," "plans," "intends," "potential" and similar expressions.
These statements reflect our current belief and are based upon currently available information. Accordingly, such
forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the
Company's actual results, performance or achievements to differ materially from those expressed in or implied by such
statements. We undertake no obligation to update or advise in the event of any change, addition, or alteration to the
information catered in this PowerPoint presentation including such forward-looking statements. This PowerPoint
presentation does not constitute an offer of the securities described herein.
The foregoing MW estimates are derived from several reports prepared by an independent geothermal consultant, and
are based upon certain assumptions contained in these reports. Other than Blue Mountain, insufficient exploration work
has been conducted on the other properties in order to determine the reasonableness of these assumptions, therefore
there are risks that these estimates may not be accurate. Accordingly, investors should not rely on this information when
making an investment decision.
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GEOTHERMAL ENERGYAdvantages
Base load power plants
• 24 hours a day/ 7days a week
High capacity factor: 95%+
Low emissions
Established technology
40+ years plants operating in US
Self replenishing (renewable)
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STATE OF NEVADANew Geothermal Power Development!
Abundant geothermal resources
Geothermal industry established
• 308 MW existing capacity
• +120 MW signed power contract
• +200 MW contract awards pending
Strong power demandStrong power demand
• By 2015 Nevada’s two Utilities to spend US$2 billion on increasing renewable supplies
• Net importer of power
• Large industrial loads
• Highest growth rate in U.S.
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GOVERNMENT SUPPORT
Renewable Portfolio Standards
• 20% by 2015 in Nevada (currently 8%)
• Oregon, California progressive portfolio standards
Production Tax Credits
• US$19 /MWh on the first 10 years of output, Senate has extended a
bill to extend to the end of 2009
U.S. Department of Energy (DOE) funding to be renewed
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NEVADA GEOTHERMAL Corporate Structure
Nevada Geothermal Power Inc. (“NGP”)
(TSX.V: NGP, OTCBB: NGLPF)
B.C., Canada Corporation
Blue Mountain PowerCompany, Inc.
(“Blue Mountain”)B.C., Canada, Corporation
Nevada Geothermal Power Company (“NGPC”)Nevada CorporationFormerly NORAMEX
Black Warrior, NV
Crump Geyser, OR
Pumpernickel, NV
Sierra Geothermal Power Inc.
(formerly Inovision)Option for 50% if they
provide $5MM in development capital
NGP Blue Mountain I, LLC
(“NGP 1”)
Borrower
NGP Blue Mountain HoldCo, LLC
(“HoldCo”)
HoldCo for future financing flexibility
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Project Pipeline
• Scheduled to be the first project to reach commercial operation
• Potential for additional phases after the Project reaches commercial operation
Blue Mountain
• Top prospect in Oregon
• Access to California power market
Crump Geyser
• Funded by JV partner, Sierra Geothermal Power
• Full size production test well expected to be drilled in 2008
Pumpernickel Valley
• Large scale heat anomaly
• Plans to continue exploration surveys in 2008
Black Warrior
Over 200 MW of Development Potential
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NEVADA GEOTHERMAL Aggressive Growth
Well 25-1510.0 MW Gross
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ON THE ROAD TO REVENUEExploration ► Feasibility ► Construction ► Production ►
Blue Mountain Project
30 MW (net) Power Purchase Agreement
Negotiating contract for reserve power
Large generation interconnection (LGIA)
Environmental Assessment Approved (FONSI)
EPC contract:
49. 5 MW gross/39 MW net
fixed price
guaranteed completion date December 31, 2009
$140M project financing committed
Turn on the Power: 4th Quarter 2009
Blue Mountain Project Participants
Owner Operator : Nevada Geothermal Power Inc.
Power Offtaker: Nevada Power Company
EPC Contractor: Ormat Nevada, Inc.
Interconnection: Sierra Pacific Power Company
Drilling: ThermaSource, Inc.
Independent Resource Evaluation: GeothermEx, Inc.
Independent Engineer: Luminate, LLC
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Key Investment Highlights
Stable Cash Flow from Long-Term Power Purchase Agreement• 20-year PPA with NPC minimizes exposure to energy price fluctuations
• Energy payments increase if PTCs are not available
• Fundamental value supported by requirements for NPC to obtain 20% of its total energy from renewable resources by 2015
Environmentally Friendly Base-Load Power Well Positioned on the Dispatch Curve• Attractively positioned on dispatch curve
• Limited direct exposure to variable fuel costs• Nearly no greenhouse gas emissions
• High reliability relative to other clean technologies, such as solar and wind
Project Financing Committed
• Construction financing is expected to close at end of April 2008
• Agreement with Morgan Stanley affiliate for "take-out" equity to repay the construction loan
• Requires extension of PTC legislation which a bill is currently in the Senate
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Key Investment Highlights
Well-Developed Stage of Resource• Three production wells tested to 29.6 MW (gross) / 22.0 MW (net),
representing approximately 60% of expected output
• Additional production well completed in February 2008 also expected to be a commercial producer
• GeothermEx engaged to opine on the geothermal resource
EPC Agreement with Ormat Mitigates Construction Risk• Fixed-price, date-certain EPC contract with Ormat
• Liquidated damages payable in the event of underperformance and/or delay
• Luminate hired as independent engineer
Proven Technology Mitigates Operating Risk• Three unit binary plant reduces production outage for maintenance
• Increases availability factor of the facility
• Ormat is recognized leader in geothermal space
Experienced Developer / Operator• Arms-length O&M agreement with NGP
• Executive experience in geothermal resource development
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PROJECT LOCATION
Power Grid
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BLUE MOUNTAINView from the west
North
Jungo Road
16Well 23-14, Rig on Flow Test 10.0 MW Gross
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BLUE MOUNTAINWell FieldDevelopment
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BLUE MOUNTAINWell Field Development for 49.5 MW
Well Field plan calls for 6 Production Wells and 4 injection wells
4 Production Wells Drilled
26A-14: 9.6 MW gross
23-14: 10.5 MW gross
25-14: 10.0 MW gross
Proven Capacity: 29.6 MW gross = 59.8% of Project’s expect output
Currently drilling first injection well (58-15)
Contract with ThermaSource, Inc. secures rig through planned well field development
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BLUE MOUNTAIN Transmission Route
Flat underdeveloped terrain, with no river or
highway crossings
120kV transmission interconnection
• Sierra Pacific Power Company
75 MW Large Generator Interconnection
Agreement in place
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Power Purchase Agreement – ‘Faulkner 1’ Nevada Power Resources (Utility)
Blue Mountain – 31. 25 MW net
• 20-year Power Purchase Agreement
• 31.25 MW net plus RECs
• US$60 - $70 per MWh
• 20-year fixed escalator
• Contract value US$375 million
• US$19/MWh PTC
• $US66 million
‘Faulkner 1’ projected to come on line in 2009.
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Summary of Ormat EPC Contract
Counterparty Ormat Nevada Inc., a Delaware corporation
Date March 28, 2008
Contract Price $76,070,000
Power Plant • Geothermal electric generating facility capable of producing 42.3 MW of net electrical power. • The Power Plant to consist of 3 Integrated Two Level Ormat Energy Converter units, each incorporating one 17 MW double ended shaft generator driven by two 1800 RPM direct coupled special organic fluid turbines, cooling towers, cooling pumps and all other related systems
Key Milestones Limited Notice to Proceed Issued February 8, 2008 (LNTP Date)
Survey and Geo-Technical Report Completed on March 24, 2008
CAPP Permit to Construct – December 2008
Substantial Completion Guaranteed Date – December 31, 2009
Iso-pentane pre-heater Vaporizer
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Blue Mountain’s Faulkner I Power PlantFinancing Path
US$20 million Glitnir Bank Bridge Loan
To fund the continuous development for Faulkner I power plant
US$140 million Loan Facility Morgan Stanley
Takes out Glitnir Loan
To fund construction of geothermal power plant
Geothermal well field, related infrastructure and development costs.
US $140 million Morgan Stanley tax equity investment
At completion of Blue Mountain, Faulkner 1
Takes out construction loan
Blue Mountain’s Faulkner 1 assets are held in a project level single purpose entity.
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PUMPERNICKEL PROJECTProduction Test Well in 2008
Leases from Newmont Mining Corporation & the Federal BLM
135°C (275˚F) legacy well with temperature increasing at bottom
Gravity and Seismic surveys completed – drill targets defined
Production test well in 2008
$5.0 million funding committed from JV partner to earn 50% interest
Nevada Geothermal remains operator of Pumpernickel project
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CRUMP GEYSER – LOOKING EASTAggressive Drilling Program in 2008!
1959
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CRUMP GEYSERTop Prospect in Oregon
Potential geothermal source indicated in red circle
Magnetic survey delineated faults
Resistivity survey delineated super conductor reflecting geothermal reservoir
3.6 miles to transmission line
Drilling program 2008
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BLACK WARRIOR PROJECT AREA
37MW (90% probability); GeothermEx Inc., California Energy Commission 2005
21 sq kilometres/8 sq miles
Heat anomaly over 25 sq kilometres/9.6 sq miles
Deep test hole recorded maximum temperature of 128°C/262˚F at 552 metres/1811 ft
• Gradients suggest commercial temperatures within 1000 metres/3280 ft
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Officers, Management & DirectorsExperts In Geothermal Power Development
Brian D. Fairbank. P.Eng., President & CEO
Canada’s foremost geothermal expert with 30 years of experience in geothermal engineering, drilling, field development, business management and project finance
Andrew Studley, P.Eng, CPA, MBA, CFO
Experience in all areas of corporate planning, accounting, finance and administration for chemical, energy and environmental management to worldwide chemical companies and refiners
Kim Niggemann, B.Sc., Director, Resource Exploration
Responsible for day-to-day operations, scheduling, program efficiency, budget control and overall project success
Background in mining exploration and field drilling for major mining companies
Max Walenciak, P. Eng., Mgr. of Geothermal Development
Responsible for engineering, equipment procurement and contractor selection for the Project
Has over 30 years of diverse project management experience, including both gas-fired and geothermal power plants
Markus Christen, Board of Directors
A senior financial executive with extensive experience in investment and commercial banking
Responsible for raising over US$50 billion domestically and internationally for projects, including geothermal plants
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Officers, Management & Directors
Richard Campbell, M.Sc., P.Eng., Board of Directors
Currently Manager of the Technical & Engineering Services Division of TIC – The Industrial Company. TIC is a leader in geothermal plant construction
1994 – 1999 as President of Ben Holt Company, he directed the design, construction and support of major international geothermal power plants that helped Ben Holt to become a world leader in steam and binary cycle geothermal power engineering
Received the Joseph W. Aidlin Award in 2000 for Outstanding Contribution to the Development of Geothermal Energy. President (1995 – 1996) and currently a Director of the Geothermal Resources Council
Domenic Falcone, CPA, Board of Directors
Founder of Geothermal Resources International Inc., a power developer that played a significant role in building a viable U.S. geothermal industry
Received the Joseph W. Aidlin Award in 1991 for Outstanding Contribution to the Development of Geothermal Energy
R. Gordon Bloomquist, Ph.D., Board of Directors
Director of Geothermal and District Energy for the state of Washington
Responsible for in-state geothermal policy decisions, assistance to developers, investigation of geothermal resources, and district heating installations
Past President of the Geothermal Resource Council
Jack Milligan, P. Eng., Board of Directors
Civil engineer with 46 years experience in power plant and transmission line construction
Responsible for building major power dams and transmission lines, and managed the Meager Creek geothermal project for B.C. Hydro
James Yates, Board of Directors
Independent businessman with 20 years of experience in corporate development and financing of emerging resource companies
Financed and developed the Crowfoot Lewis open-pit gold mine in Nevada
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Corporate Information
Trading Symbol TSXV: NGP
OTC BB: NGLPF
52 week High/Low C$1.35 / $0.66
US$1.55 / $0.55
Shares Outstanding
Fully Diluted
79,119,504
112,221,824
Research Coverage Dundee Securities
Clarus Securities-
Geothermal Overview
News Letter Coverage
Fraser MacKenzie
Sprott Securities
Casey’s - Energy Speculator
Brien Lundin’s - Gold Newsletter
Mining Share Focus
Jay Taylor
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Contact Information
Brian D. Fairbank, P. Eng
President & CEO
Telephone: 604-688-1553
Head Office
900 – 409 Granville Street
Vancouver, B.C. Canada V6C 1T2
Toll Free: 1-866-688-0808
Investor Enquires: Extension 118
www.nevadageothermal.com
Shelley Kirk
Investor Relations
Telephone: 604-638-8784
Cell: 604-999-1121
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