Davenport Power, LLC was founded in 1997 by Hiram A. Bingham, after a highly successful career in geothermal power development and clean technology investment. Davenport's vision is to become a leading independent electric power company that owns and operates clean power and renewable energy projects. The company specializes in developing early stage geothermal opportunities that sell power to utilities under long-term contracts. The Company also strategically acquires operating assets.  Davenport Power’s combination of specialization and experienced power asset management gives it a unique competitive advantage in the clean technology and renewable energy sectors.

Davenport Power Expertise 

• early project development
• operational efficiency
• resource management and optimization 
• long-term power asset management

The Company currently holds geothermal interests at Newberry Volcano, Oregon and in Hungary in a venture with MOL, the Hungarian Oil Company. Davenport’s affiliate and Managing Member, Davenport Resources, LLC, holds interests in other clean energy infrastructure projects consisting of natural gas storage and LNG off-loading and re-gasification facilities in the United Kingdom. Davenport Resources also has interests in other clean technology companies.

US Power Markets
The United States is forecasting a severe shortfall of generating capacity in some areas, particularly in California and the west coast.  The Department of Energy projects a need for two thousand new power plants over the next 20 years, of which most are expected to be fossil fuel gas and coal-fired plants. Feeling pressure from environmental groups, many States are mandating that utilities build or purchase renewable energy to meet specific percentages of their asset portfolios. California has adopted a Renewable Energy Portfolio Standard, requiring utilities to obtain 20% of their wholesale power from renewable energy sources by 2012.  Oregon and Washington are considering similar legislation.

Renewable Energy
Renewable energy does not rely on a depleting natural resource, such as hydrocarbon fuels.  For this reason even the eminent oil and gas leader, Royal Dutch Shell, has recently projected that renewable power sources will rise spectacularly in the coming decades to 50% of all electricity sources by the mid 21st century.  Excluding large hydropower, the most common form of renewable energy is biomass (agricultural waste), followed by wind, geothermal, and small hydro (<10 MW).  Opportunities abound for such projects in the United States, although each project must be assessed on its economic merits, considering resource, climate, historic records, market prices, and other data.