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Ormat Signs Agreement with SCPPA

Ormat Technologies Inc., (ORA) has signed a Power Purchase Agreement (PPA) with Southern California Public Power Authority (SCPPA) for the purchase of renewable energy from its new geothermal project, the Gould Plant, located within the Heber Geothermal Facilities Complex. The PPA is for 10 MW, energy only, which will be sold at a fixed price of $57.50/MWh with an annual escalation of 1.5% and includes the value for the energy as well as the Environmental Attributes. In addition, 30% of the Production Tax Credits, if and when available, will be shared with the power purchasers. The Gould Plant will supply 10 MW (net) of clean and sustainable geothermal energy, under the above mentioned Heber PPA to the following SCPPA member cities: Anaheim, Glendale, Pasadena, and Banning. The product carries Environmental Attributes, known as Recovered Energy Credit (RECs), which will assist the SCPPA member cities to comply with their respective Renewable Portfolio Standard (RPS) requirements. Website: http://www.ormat.com     

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Hydrogenics Sells Hydrogen Refueler to Korean Gas Technology

Hydrogenics Corporation (TSX:HYG, NASDAQ:HYGS) has sold a hydrogen reformer and refueling system to Korean Gas Technology Corporation. The reformer will generate hydrogen by reforming natural gas and will be installed at the Korea Gas research and development facility in Incheon, near Seoul. The hydrogen produced will be used for refueling vehicles. “KOGAS-Tech is quickly becoming a leader in hydrogen and alternative energies. As this refueler will be one of the first in South Korea, KOGAS-Tech will play a major role in demonstrating the potential of hydrogen technologies,” said Pierre Rivard, President and CEO, Hydrogenics Corporation. The reformer will be able to generate 65 kilograms of hydrogen a day, which is enough to refuel approximately 20 fuel cell powered vehicles. The reformer and refueling system is anticipated to be delivered and installed by June 2006. Website: http://www.hydrogenics.com     

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