Leading geothermal company, Ormat Technologies, Inc. (NYSE: ORA) announced that one of its subsidiaries will supply a new geothermal power plant to be constructed in Turkey. The contract is valued at approximately $16 million and delivery of the equipment is expected to be completed within 16 months from the contract date.
The customer, MEGE- Menderes Geothermal Elektrik Uretim, A.S., a private developer and owner of the resource in Turkey, has one operating geothermal power plant that was supplied by Ormat in 2004.
The new power plant significantly contributes to the local authorities’ efforts to develop the base load needs of Turkey through dependable, indigenous and clean geothermal power, optimizing the energy utilization by converting both geothermal steam and brine from geothermal wells into electric power.
The new plant will use air-cooled condensers and allow 100% geothermal fluid reinjection, which serves both to sustain the reservoir and to produce electrical power with virtually no environmental impact.
Dita Bronicki, CEO of Ormat Technologies, said, "This marks our fourth order to supply equipment for geothermal power in Turkey and continues our leadership position in creating clean energy both in megawatts and the number of power plants in the country. With the addition of this plant, Ormat will have increased the amount of megawatts it supplies to 20 countries to over 950 megawatts."
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.
Loading...