RENO, Nev., Aug. 25 /PRNewswire-FirstCall/ -- Ormat
Technologies, Inc. (NYSE: ORA), today announced that the GRE
Recovered Energy Generation (REG) power plant is in commercial
operation.
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The project is a 5.5 MW net power plant that converts the waste
heat from the exhaust of a gas turbine in a compressor station
along a natural gas pipeline in Martin
County, Minnesota. The electricity produced by the project
is sold to Great River Energy, under a 20 year power purchase
agreement.
"We are very happy to bring into commercial operation this most
recent REG unit along the Northern Border gas pipeline. This is the
10th REG unit we own and operate in the U.S., that brings the total
installed capacity to approximately 53 MW and contributes to the
important goal of emission free power generation," said Dita
Bronicki, Chief Executive Officer of Ormat.
The ORMAT® REG facilities consist of ORMAT® ENERGY CONVERTERS
(OEC) based on Organic Rankine Cycle technology, which converts
recovered heat to electricity without the need for any additional
fuel or water. The OEC units are environmentally benign, with no
emissions of CO2 or NOX.
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 75 U.S. patents. Ormat has engineered and built power plants,
that it currently owns or has supplied to utilities and developers
worldwide, totaling approximately 1300 MW of gross capacity.
Ormat's current generating portfolio includes the following
geothermal and recovered energy-based power plants: in the United States - Brady, Brawley, Heber,
Mammoth, Ormesa, Puna, Steamboat, OREG 1, OREG 2, OREG 3 and Peetz;
in Guatemala - Zunil and
Amatitlan; in Kenya – Olkaria III;
and, in Nicaragua - Momotombo.
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
8, 2010.
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:
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Investor Relations
Contact:
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Dita Bronicki
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Marybeth Csaby/Rob
Fink
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CEO
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KCSA Strategic
Communications
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775-356-9029
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212-896-1236 (Marybeth)
/212-896-1206 (Rob)
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dbronicki@ormat.com
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mcsaby@kcsa.com/rfink@kcsa.com
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SOURCE Ormat Technologies, Inc.
Copyright . 25 PR Newswire