Ormat Technologies and Montana-Dakota Utilities Co. Announce New Recovered Energy Generation Project
01 Maio 2008 - 8:16PM
PR Newswire (US)
RENO, Nev., May 1 /PRNewswire-FirstCall/ -- Ormat Technologies,
Inc. (NYSE:ORA) and Montana-Dakota Utilities Co. announced today
that the two companies entered into an Engineering, Procurement and
Construction (EPC) agreement to build a 5.3 MW recovered energy
generation facility to be located on the Northern Border Pipeline
Company's (Northern Border) compressor station in Morton County,
North Dakota. The facility, which is expected to be completed in
the fourth quarter of 2009, will produce electricity without
burning additional fuel. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO) The
project, subject to regulatory approvals, will increase the
utilization of the energy content by approximately 25 percent and
will produce enough renewable energy to supply about 5,000
residential electric customers in Montana-Dakota's service
territory. Recovered Energy Generation (REG) facilities consist of
ORMAT Energy Converters (OEC) based on Organic Rankine Cycle
technology, which convert recovered heat to electric power without
the need for any additional fuel or water. "Ormat REG systems
respond to two essential objectives in environmental conservation:
energy efficiency and emission reduction," said Dita Bronicki,
Chief Executive Officer of Ormat. "As the 10th Ormat REG facility
installation planned on Northern Border's facilities, this project
with Montana-Dakota Utilities is a testimony to the energy
production capabilities of Ormat's Organic Rankine Cycle technology
and highlights our continued progress in this area." "We are
excited to be a part of this project and to increase our electric
generation capacity with this technology," said Andrea Stomberg,
Vice President of electric supply for Montana-Dakota. "It is
important to us to expand our green energy efforts." In the normal
operation of a compressor station, waste heat is released by the
exhaust of the gas turbine driving the compressor used to compress
the gas. This thermal energy can be captured and converted to
electricity by the installation of an Ormat Energy Converter
similar to those used in geothermal electricity generation. The
project will use a heat exchanger to capture the heat from the
existing gas turbine and the recovered heat is used in the OEC to
produce the electrical output. About Ormat Technologies 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. The
company has more than four decades of experience in the development
of environmentally- sound power, primarily in geothermal and
recovered-energy generation. Ormat products and systems are covered
by more than 75 patents. Ormat currently operates the following
geothermal and recovered energy-based power plants: in the United
States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1;
in Guatemala - Zunil and Amatitlan; in Kenya - Olkaria; and in
Nicaragua - Momotombo. About Montana-Dakota Utilities Co.
Montana-Dakota Utilities Co. distributes natural gas and generates,
transmits and distributes electricity and provides related services
in the northern Great Plains. Montana-Dakota is a division of MDU
Resources Group, Inc., a multidimensional natural resources
enterprise traded on the New York Stock Exchange as "MDU." For more
information about Montana-Dakota, visit the company's Web site at
http://www.mdu.com/. Media Contacts: Celeste Eisenberg Mark Hanson
Ormat Technologies MDU Resources Group 775-815-9625 701-530-1093
Investor Contacts: Todd Fromer/ Marybeth Csaby Phyllis A.
Rittenbach KCSA Strategic Communications MDU Resources Group, Inc.
212-896-1215 / 212-896-1236 701-530-1057 / 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 5, 2008. 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.
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO
http://photoarchive.ap.org/ DATASOURCE: Ormat Technologies, Inc.;
Montana-Dakota Utilities Co. CONTACT: Media, Celeste Eisenberg of
Ormat Technologies, +1-775-815-9625, ; or Mark Hanson of MDU
Resources Group, +1-701-530-1093, ; or Investors, Todd Fromer,
+1-212-896-1215, , or Marybeth Csaby, +1-212-896-1236, , both of
KCSA Strategic Communications, for Ormat Technologies; or Phyllis
A. Rittenbach of MDU Resources Group, Inc., +1-701-530-1057 Web
site: http://www.ormat.com/ http://www.mdu.com/
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