Nevada Geothermal Issues Full Notice to Proceed to Ormat for the Blue Mountain 'Faulkner 1' Power Plant
04 Setembro 2008 - 4:13PM
PR Newswire (US)
VANCOUVER, British Columbia, Sept. 4 /PRNewswire-FirstCall/ --
Nevada Geothermal Power Inc. (NGP) (OTC Bulletin Board: NGLPF;
TSX-V: NGP) and Ormat Technologies, Inc. (NYSE:ORA) announced today
that NGP Blue Mountain 1 LLC (NGP 1) has issued a Full Notice to
Proceed (FNTP) under its fixed-price, date-certain engineering,
procurement and construction (EPC) contract with Ormat Nevada Inc.
to supply and construct the Phase 1 49.5 MW gross 'Faulkner 1'
geothermal power plant at Blue Mountain, Nevada. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO) Ormat has
completed the engineering and design and started procurement of
certain plant components under Limited Notices to Proceed (LNTP)
which have been in place since February 2008. Site work will
commence immediately. Under the EPC contract, Ormat guarantees to
achieve substantial completion no later than December 31, 2009.
"Ormat is a recognized world leader in the geothermal industry and
with Ormat's expertise in the construction of binary geothermal
power plants, we are supremely confident that NGP's Blue Mountain
'Faulkner 1' geothermal power plant will be up and running at the
end of December 2009. We appreciate Ormat's cooperation through the
financing process," stated Brian Fairbank, President and CEO of
NGP. "We are happy that NGP was able to finalize and secure the
financing of this project that enables the issuance of the Full
Notice to Proceed to Ormat and are looking forward for a successful
completion of the project as scheduled," said Dita Bronicki, CEO of
Ormat Technologies. Blue Mountain is located 30 kilometers (20
miles) west of the town of Winnemucca, Nevada. The electric power
generated by 'Faulkner 1' will be sold to Nevada Power Company
under a 20-year Power Purchase Agreement. About Ormat Technologies,
Inc. 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 and 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 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 Nevada Geothermal
Power Inc. Nevada Geothermal Power Inc. is a renewable energy
company developing geothermal projects in the United States to
provide electrical energy that is clean, efficient and sustainable.
NGP owns a 100% leasehold interest in four properties: Blue
Mountain that is expected to commence power generation late 2009,
Pumpernickel, Black Warrior, all located in Nevada and Crump Geyser
in Oregon. These properties are at different levels of exploration
and development. NGP estimates a potential of approximately 150 MW
to over 200 MW from the current leaseholds. Nevada Geothermal Power
Inc. Brian D. Fairbank, P. Eng. President & CEO
http://www.nevadageothermal.com/ Investor Inquiries Shelley Kirk
Nevada Geothermal Power Inc. Telephone: 604-688-1553 X118 Toll
Free: 866-688-0808 X118 Ormat Technologies Contact: Investor
Relations Contact: Dita Bronicki Todd Fromer/ Marybeth Csaby CEO
KCSA Strategic Communications +1-775-356-9029 212-896-1214 (Todd) /
212-896-1236 (Marybeth) / This Press Release contains certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. We have tried, whenever
possible, to identify these forward-looking statements using words
such as "anticipates," "believes," "estimates," "expects," "plans,"
"intends," "potential," and similar expressions. These statements
reflect our current belief and are based upon currently available
information. Accordingly, such forward-looking statements involve
known and unknown risks, uncertainties and other factors which
could cause the Company's actual results, performance or
achievements to differ materially from those expressed in or
implied by such statements. We undertake no obligation to update or
advise in the event of any change, addition, or alteration to the
information catered in this Press Release including such
forward-looking statements. The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this release.
Ormat's 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.
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO
http://photoarchive.ap.org/ DATASOURCE: Ormat Technologies CONTACT:
Brian D. Fairbank, P. Eng., President & CEO, or Investors,
Shelley Kirk, +1-604-688-1553, ext. 118, Toll Free, 1-866-688-0808,
ext. 118, both of Nevada Geothermal Power Inc.; or Dita Bronicki,
CEO of Ormat Technologies, +1-775-356-9029, ; or Investors, Todd
Fromer, +1-212-896-1214, , or Marybeth Csaby, +1-212-896-1236, ,
both of KCSA Strategic Communications, for Ormat Technologies Web
site: http://www.ormat.com/
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