PROPERTY, PLANT AND EQUIPMENT
 9 Months Ended
Sep. 30, 2016
PROPERTY, PLANT AND EQUIPMENT [Text Block]

NOTE 4 - PROPERTY, PLANT AND EQUIPMENT

During the third quarter ended September 30, 2016, the Company capitalized costs that totaled $2,629,648 for well drilling costs and facility improvements at the Raft River, Idaho power plant (Raft River Energy I LLC). Costs of $841,409 were capitalized for a new production well at the Guatemala Project. Costs of $450,355 were capitalized for drilling and reservoir studies for the San Emidio Phase II Project. Reservoir studies, injection strategies and permitting costs were incurred at the WGP Geysers Project that totaled $215,737.

During the second quarter ended June 30, 2016, the Company capitalized costs that totaled $806,198 for well drilling costs and facility improvements at the Raft River, Idaho power plant (Raft River Energy I LLC). Costs of $312,422 were capitalized for a new production well at the Guatemala Project. Reservoir studies, injection strategies and permitting costs were incurred at the WGP Geysers Project that totaled $191,754.

During the quarter ended March 31, 2016, the Company capitalized costs that totaled $495,761 for the design and engineering costs of the WGP Geysers Project power plant. Costs related to the study of the drilling results at Guatemala totaled $108,397.

Property, plant and equipment, at cost, are summarized as follows:

    September 30,     December 31,  
    2016     2015  
Land $ 3,101,289   $ 3,074,052  
Power production plant   159,876,162     159,800,893  
Grant proceeds for power plants   (52,965,236 )   (52,965,236 )
Wells   67,446,167     67,621,167  
Grant proceeds for wells   (3,464,555 )   (3,464,555 )
Furniture and equipment   3,808,979     3,668,984  
    177,802,806     177,735,305  
             
           Less: accumulated depreciation   (35,629,145 )   (31,021,494 )
    142,173,661     146,713,811  
Construction in progress   27,873,693     21,022,981  
             
  $ 170,047,354   $ 167,736,792  

Depreciation expense was charged to plant operations and general expenses for the following periods:

    September 30,  
    2016     2015  
             
Three months ended $ 1,565,316   $ 1,562,860  
Nine months ended   4,678,085     4,673,225  

Changes in construction in progress are summarized as follows:

    For the Nine        
    Months Ended     For the Year  
    September 30,     Ended December  
    2016     31, 2015  
Beginning balances $ 21,022,981   $ 15,652,722  
     Development/construction   6,850,712     5,370,259  
     Transfers into production   -     -  
Ending balances $ 27,873,693   $ 21,022,981  

Construction in Progress, at cost, consisting of the following projects/assets by location are as follows:

    September 30,     December 31,  
    2016     2015  
Raft River, Idaho:            
       Unit I, well improvements $ 3,813,689   $ 105,160  
       Unit I, plant improvements   124,264     -  
       Unit II, power plant, substation and transmission lines   805,758     750,493  
       Unit II, well construction   2,149,497     2,146,531  
    6,893,208     3,002,184  
San Emidio, Nevada:            
         Unit II, power plant, substation and transmission lines   426,941     426,942  
         Unit II, well construction   4,272,234     3,798,563  
    4,699,175     4,225,505  
Neal Hot Springs, Oregon:            
       Power plant and facilities   126,804     50,297  
       Well construction   368,124     314,360  
    494,928     364,657  
             
WGP Geysers, California:            
       Power plant and facilities   325,989     325,989  
       Well construction   8,594,000     7,690,748  
    8,919,989     8,016,737  
Crescent Valley, Nevada:            
Well construction   1,419,155     1,228,888  
El Ceibillo, Republic of Guatemala:            
       Well Construction   5,438,738     4,176,510  
       Plant and facilities   8,500     8,500  
    5,447,238     4,185,010  
             
  $ 27,873,693   $ 21,022,981