Ormat Technologies, Inc. (NYSE: ORA) recently announced the start of operations for a new power plant that converts waste heat into 5.5 megawatts (MW) of net power.
The GRE Recovered Energy Generation (REG) power plant in Martin County, Minnesota, converts the waste heat from the exhaust of a gas turbine in a compressor station along a natural gas pipeline.
The electricity produced by the project is sold to Great River Energy, under a 20 year power purchase agreement.
This is the 10th REG power plant owned by Ormat for a total capacity of o approximately 53 MW.
The facilities consist of Ormat Energy Converters(OEC) based on Organic Rankine Cycle technology, which converts recovered heat to electricity without the need for any additional fuel or water. The OEC units are environmentally benign, with no emissions of CO2 or NOX.
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.
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