Mustang Geothermal Corp. is a geothermal power company focused on discovering, developing and operating a geothermal power plant within three years. Geothermal energy is a renewable energy source and refers to the power generated using heat from the Earth’s molten core.
The company owns a 100% interest in 16,350 acres of federal geothermal leases in five project areas in the state of Nevada. In 2010, Nevada had 19 privately-owned geothermal power plants producing a total 2.06 million megawatt hours of renewable electrical power and valued at $268 million. This is equivalent to the power needed by approximately 180,000 households for one year. Geothermal power generated by Nevada ranks second, behind only California.
Mustang Geothermal is planning for the start of exploration activities on high priority targets identified on its geothermal properties in Nevada. The company is negotiating with contractors on the availability of a drill rig for the 2011 field season in Nevada. In addition, it has mobilized geologic field teams for ground truthing and water testing of thermal springs on its Nevada properties.
The company today announced the launch of its redesigned corporate website. The new website delivers a snapshot of Mustang Geothermal along with the very latest information about the company and its exploration and development activities. The new website address is www.mustangeothermal.com