Ormat Technologies, Inc. Signs Two 20-Year Power Purchase Agreements With Nevada Power Company for Up to 30 MW Each of Geotherm
03 Agosto 2006 - 8:04PM
PR Newswire (US)
New Geothermal Plants to Be Constructed by Ormat at Geothermal
Sites in Rural Nevada RENO, Nev., Aug. 3 /PRNewswire-FirstCall/ --
Ormat Technologies, Inc. (NYSE:ORA) today announced that two of its
subsidiaries have each signed a 20-year Power Purchase Agreement
(PPA) with Nevada Power Company, a subsidiary of Sierra Pacific
Resources, for the sale of energy to be produced from the Carson
Lake (near Fallon) and Buffalo Valley Power Plants, two new
geothermal power plants to be built in Lander and Churchill
Counties in northern Nevada. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO ) The PPAs
are subject to the approvals of the Public Utilities Commission of
Nevada and FERC. The Carson Lake and Buffalo Valley projects are
both projected to come on line in late 2009. These new plants are
expected to increase the total output supplied from Ormat to Sierra
Pacific Resources by between 36 and 60 megawatts (MWs). These
agreements are the eleventh and twelfth PPAs between Ormat and
Sierra Pacific Resources, and the fifth and sixth executed since
the enactment of Nevada's aggressive renewable portfolio standard
legislation in 2001, which requires up to 20 percent of all
electricity generated in Nevada be derived from new renewable
energy sources by the end of 2015. The Nevada RPS will be phased in
over several years. These two new PPA's will help Sierra to meet
the interim commitment that requires up to 12% of energy from
renewable sources by the end of 2009. Lucien Bronicki, chairman of
Ormat said, "These new agreements characterize over two decades of
successful collaboration with Sierra Pacific to develop Nevada's
vast geothermal potential, estimated at over 1500 MWs. Today, we
are a step closer in helping to make Nevada a leader in geothermal
power usage. Sierra Pacific Resources should be commended for
entering into agreements to purchase power produced by renewable
sources, such as geothermal energy, which lowers CO2 emissions and
reduces the dependence of Nevada on energy imports." The Carson
Lake and Buffalo Valley projects will consist of state of the art
air-cooled binary or combined steam/binary power plants that
re-inject 100 percent of all geothermal fluid produced, while
consuming no water or chemicals. Additionally, geothermal power
works continuously and thus the new plants will provide base load
power 24 hours per day, 7 days per week. About Ormat Technologies
Ormat Technologies, Inc. is a vertically integrated company
primarily engaged in the geothermal and recovered energy power
business. The Company designs, develops, builds, owns and operates
geothermal power plants and also designs, develops and builds and
plans to own and operate recovered energy- based power plants.
Additionally, the Company designs, manufactures and sells
geothermal and recovered energy power units and other power
generating equipment and provides related services. Ormat products
and systems are covered by more than 70 patents. Ormat currently
operates the following geothermal power plants: in the United
States -- Brady, Desert Peak, Heber, Mammoth, Ormesa, Puna and
Steamboat; in the Philippines -- Leyte; in Guatemala -- Zunil; in
Kenya -- Olkaria; and in Nicaragua -- Momotombo. Safe Harbor
Statement Information provided in this press release may contain
statements relating to current expectations, estimates, forecasts
and projections about future events that are "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements generally relate to
Ormat's plans, objectives and expectations for future operations
and are based upon management's current estimates and projections
of future results or trends. Actual future results may differ
materially from those projected as a result of certain risks and
uncertainties. For a discussion of such risks and uncertainties,
see "Risk Factors" as described in the Company's Annual Report on
Form 10-K filed with the Securities and Exchange Commission on
March 28, 2006 and the Prospectus Supplement filed with the
Securities and Exchange Commission on April 5, 2006. These
forward-looking statements are made only as of the date hereof, and
we undertake no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events
or otherwise. Ormat Technologies Contact: Investor Relations
Contact: Dita Bronicki Todd Fromer / Marybeth Csaby CEO and
President Media Contact: Lewis Goldberg +1-775-356-9029 KCSA
Worldwide 212-896-1214 (Todd); 212-896-1236 (Marybeth);
212-896-1215 (Lewis) / /
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO
http://photoarchive.ap.org/ DATASOURCE: Ormat Technologies, Inc.
CONTACT: Dita Bronicki, CEO and President of Ormat Technologies,
Inc., +1-775-356-9029, ; or Todd Fromer, +1-212-896-1214, , or
Marybeth Csaby, +1-212-896-1236, , or Media, Lewis Goldberg,
+1-212-896-1215, , all of KCSA Worldwide, for Ormat Technologies,
Inc. Web site: http://www.ormat.com/
Copyright
Ormat Technologies (NYSE:ORA)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Ormat Technologies (NYSE:ORA)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024