Nevada Power Company, a subsidiary of Sierra Pacific Resources (NYSE:SRP), and renewable energy company Ormat Technologies Inc. (NYSE: ORA ) have announced plans to build a waste-heat recovery project south of Las Vegas, capable of supplying energy for 1,200 homes.
Nevada Power will own the 6-megawatt (MW) facility, which Ormat will engineer to harvest heat waste at a gas compressor station site owned by Kern River Gas Transmission Company. The heat will be used to produce electricity, which Nevada Power will sell to its customers.
Dita Bronicki, CEO of Ormat, said, "The leadership of Sierra Pacific Resources in the implementation of the Renewable Portfolio Standard is once again demonstrated in this project which produces electricity without burning additional gas and without emissions, and therefore increases the utilization of the energy content of the gas by approximately 25%."
Kern River is a unit of MidAmerican Energy Holdings Company, which is a subsidiary of Berkshire Hathaway Inc (NYSE: BRK-A).
The project is scheduled to be completed in 2010 and is subject to regulatory approvals.
About Sierra Pacific Resources:
Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for most of southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California. Sierra Pacific Power Company also distributes natural gas in the Reno-Sparks area of northern Nevada.
About Ormat Technologies:
Ormat Technologies, Inc. is the only vertically-integrated company primarily engaged in the geothermal and recovered energy power business. The company designs, develops, owns and operates geothermal and recovered energy-based power plants around the world. Additionally, the company designs, manufactures and sells geothermal and recovered energy power units and other power-generating equipment, and provides related services. The company has more than four decades of experience in the development of environmentally-sound power, primarily in geothermal and recovered-energy generation.
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