Ormat Technologies' Power Purchase Agreement with Nevada Power Company Receives Approval of Nevada Regulators
20 Fevereiro 2007 - 11:06AM
PR Newswire (US)
RENO, Nevada, Feb. 20 /PRNewswire-FirstCall/ -- Ormat Technologies,
Inc. (NYSE:ORA) today announced that two 20-year Power Purchase
Agreements (PPAs) signed between Nevada Power Company, a subsidiary
of Sierra Pacific Resources and two of its subsidiaries, that were
previously announced in a press release issued on August 3, 2006,
received the approval of the Public Utilities Commission of Nevada.
Under these PPAs, Ormat's Buffalo Valley Project in Lander County
and Carson Lake Project in Churchill County will produce between 18
MW and 30 MW each for Nevada Power. The two new power plants are
expected to begin commercial production by the end of 2009. Sierra
Pacific Power will receive the energy from these two power plants
until a transmission line between Sierra Pacific Power and Nevada
Power is completed in 2011. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO ) 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. Ormat is a
pioneer in Organic Rankine Cycle (ORC) technology and a leader in
the manufacture of ORC power equipment. It also designs, develops
and builds, and owns and operates, 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 approximately 70 patents. Ormat
currently operates the following geothermal power plants: in the
United States -- Brady, Heber, Mammoth, Ormesa, Puna and Steamboat;
in the Philippines -- Leyte; in Guatemala -- Zunil; in Kenya --
Olkaria; and in Nicaragua -- Momotombo. In the U.S., Ormat owns and
operates four OREG1 Recovered Energy Generation plants. 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 its 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 Ormat
Technologies, Inc.'s Annual Report on Form 10-K filed with the
Securities and Exchange Commission on March 28, 2006 and the
Prospectus Supplements filed with the Securities and Exchange
Commission on April 5 and December 14, 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 KCSA
Worldwide +1-775-356-9029 +212-896-1215 / 212-896-1236 /
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO
DATASOURCE: Ormat Technologies, Inc. CONTACT: Dita Bronicki, CEO
and President of Ormat Technologies, +1-775-356-9029, ; Investor
Relations - Todd Fromer, +1-212-896-1215, , or Marybeth Csaby,
+1-212-896-1236, , both of KCSA Worldwide Web site:
http://www.ormat.com/
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