RE: schedule changes?????I didn't read the press release as as announcing a COD for Geysers of last quarter 2013. I think they just wanted to re-assure the market that the plant would definitely get built by the end of 2013 and will get the 30% grant. That grant is on everyone's mind. There have obviously been a lot of cost overruns already and the grant is necessary to make the economics of the project profitable.
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The delay with Geysers probably had to do with re-negotiating the PPA and securing land/royalty rights. Now that's done, the project finance will be announced very soon. As soon as they get their money they will break ground. If they start work in the 3rd quarter, say by August or September, the Geysers project will get built by the end of 2012. 15 to 18 months is all that's required for construction.
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Even San Jacinto 1, which has been delayed by weather and construction overruns, started in mid-December 2009 and will finish in July 2011, that's 18 to 19 months.