Ormat Technologies, Inc. (NYSE: ORA) and JFE Engineering Corporation (JFEE), a subsidiary of JFE Holdings, Inc. (JFEEF.PK) of Japan, have executed a Cooperation Agreement for implementing geothermal power plant projects in Japan.
Ormat will supply the power generation equipment and related engineering while JFEE will undertake the construction of the power plants and the related balance of plant, infrastructure and field surface facilities. JFEE will also provide local maintenance services as may be required by clients.
The companies did not announce specific details concerning location, size or timeline for power plant projects.
The first commercial binary power plant in Japan was the Ormat 2-megawatts (MW) OEC supplied to the Kyushu geothermal facility at Hatchobaru. The Ministry of Economy, Trade and Industry of Japan announced plans to implement policies to stimulate growth in the country’s geothermal installed capacity in the next 10 years, by an additional 600 MW. Geothermal energy is part of Japan’s Renewable Portfolio Standard.
Ormat is represented in Japan by Itochu Corporation. Itochu and Ormat are partners in geothermal projects in Indonesia and were partners in a geothermal BOT project in the Philippines.
Lucien Bronicki, Chairman and Chief Technology Officer of Ormat Technologies, said the agreement with JFEE enhances Ormat’s ability to provide full service capability for the company’s equipment and technology in Japan.
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.
JFE Engineering Corporation (JFEE) is the comprehensive engineering arm of JFE Group. It operates as a subsidiary of JFE Holdings, Inc. JFEE operates in five divisions: Energy Industries Engineering, Environmental Industries Engineering, Water and Waste Water Engineering, Steel Structure Engineering, and Industrial Machinery Engineering.
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