A subsidiary of Ormat Technologies, Inc. (NYSE: ORA) has signed a 20-year deal to supply Southern California Edison (SCE) with electricity from a new geothermal power plant to be built in Imperial Valley, California.
The plant is expected to come on line by mid 2012 and is expected to have a total output of 30 megawatts (MW). The agreement includes an option to increase capacity to 100MW.
"The agreement for the new Imperial Valley Power Plant is the eighth such agreement between Ormat and SCE, and the second executed since the enactment of California’s aggressive renewable portfolio standard legislation," said Dita Bronicki, CEO of Ormat. We are very happy to bring more baseload through clean geothermal energy to California. We are already supplying approximately 160 megawatts of geothermal energy to SCE from the existing power plants that we operate and we have an additional 50 megawatts under construction. This new contract will further increase our share in SCE’s impressive portfolio of clean energy generation."
In May, Ormat signed a 20-year agreement with Nevada Power Company, for the sale of energy produced from the Grass Valley Geothermal Power Plant.
About Ormat Technologies
Ormat Technologies, Inc., is a vertically-integrated company primarily engaged in the geothermal and recovered energy power business. The company designs, develops, builds, owns and operates geothermal and recovered energy power plants using Organic Rankine Cycle (ORC) technology. Additionally, the company designs, manufactures and sells geothermal and recovered energy power units and other power generating equipment, and provides related services. Ormat currently operates the following geothermal power plants in the United States – Brady, Heber, Mammoth, Ormesa, Puna and Steamboat; in Guatemala – Zunil and Amatitlan; in Kenya – Olkaria; and in Nicaragua – Momotombo. In the U.S., Ormat owns and operates four OREG1 Recovered Energy Generation plants.
(Visited 1,288 times, 6 visits today)
Loading...