Ormat Technologies, Inc. (NYSE: ORA) announced that two of its subsidiaries have entered into contracts with Ngawha Generation Ltd., a subsidiary of Top Energy Ltd. for a new geothermal power plant in Ngawha, New Zealand.
Upon completion of the plant, the total installed capacity of Ormat’s power plants in New Zealand will exceed 200 MW.
The contracts are for a total of approximately $20 million, with construction of the power plant expected to be completed within 20 months.
This is the second order for an Ormat geothermal power plant from the company. Top Energy has been operating an Ormat 12 MW geothermal power plant in Ngawha since June 1998. Both plants will produce approximately 75% of the electricity used by Top Energy’s 26,000 consumers, thereby further reducing the amount of electricity, which would otherwise be generated by scarce non- renewable resources that produce harmful greenhouse gas emissions.
The new plant will optimize energy use by converting both geothermal steam and brine from geothermal wells into electric power energy. Unlike the flash steam turbine plants that deplete the resources by consuming water in the cooling towers, the new plant, as all existing Ormat plants in New Zealand will reinject 100% of the geothermal fluid by using air-cooled condensers. The 100% reinjection serves both to sustain the reservoir and to produce electrical power with virtually no environmental impact.
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