Don A. Campbell Phase 2 Geothermal Power Plant in Nevada Begins Commercial Operation
24 Setembro 2015 - 11:06AM
Ormat Technologies, Inc. (NYSE:ORA) announced today that the second
phase of its Don A. Campbell geothermal power plant located in
Mineral County, Nevada began commercial operation on September 17,
2015. The power plant is expected to generate 19 MW (net) on a
yearly average basis, above the nominal target of 16.2 MW listed in
the 20-year Power Purchase Agreement (PPA) with the Southern
California Public Power Authority (SCPPA). SCPPA resells the entire
output of this plant to the Los Angeles Department of Water and
Power (LADWP).
“The Don A. Campbell Phase 2 plant reached commercial
operation 10 months after the project broke ground and less than
two years after we commenced firm operation of the first phase in
December 2013,” commented Isaac Angel, Ormat's CEO. “This rapid
execution is the result of multiple improvements we have been
implementing across our entire value chain, enabling Ormat to
shorten time to market and accelerate time to revenue, in this case
six months ahead of our original schedule. This second phase has
doubled the generating capacity of the Don. A Campbell geothermal
complex, and we are delighted to be able to provide LADWP with this
additional firm, reliable and affordable renewable power,
supporting its efforts to transition away from coal and reach its
renewable energy goals.”
As previously announced, Northleaf Capital Partners, Ormat's new
joint venture investor, will purchase 36.75% equity interest in the
project which will be added to the existing ORPD joint venture
according to the terms of the agreement. Ormat will continue to
consolidate the joint venture and its assets, and will continue to
provide day-to-day management control, operations and maintenance
control over the projects.
“Reaching this milestone is a validation that this relationship
will represent a long-term, mutual beneficial arrangement that
enables Ormat to monetize our operational assets at an attractive
valuation,” added Mr. Angel. “Bringing this asset online will
strengthen our financial performance in the second half of the
year, supporting our full-year guidance and positioning us for
another growth year in 2016.”
About Ormat Technologies
With five decades of experience, Ormat Technologies, Inc. is a
leading geothermal company and the only vertically integrated
company solely engaged in geothermal and recovered energy
generation (REG). The company owns, operates, designs, manufactures
and sells geothermal and REG power plants primarily based on the
Ormat Energy Converter - a power generation unit that converts
low-, medium- and high-temperature heat into electricity. With 69
U.S. patents, Ormat’s power solutions have been refined and
perfected under the most grueling environmental conditions. Ormat
has 470 employees in the United States and over 620 overseas.
Ormat’s flexible, modular solutions for geothermal power and REG
are ideal for the vast range of resource characteristics. The
company has engineered, manufactured and constructed power plants,
which it currently owns or has installed to utilities and
developers worldwide, totaling approximately 2,000 MW of gross
capacity. Ormat’s current 666 MW generating portfolio is spread
globally in the U.S., Guatemala and Kenya.
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 February 26, 2015.
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:
Smadar Lavi
Investor Relations
775-356-9029
slavi@ormat.com
Investor Relations Agency Contact:
Miri Segal/Brett Maas
MS/Hayden - IR
917-607-8654/646-536-7331
msegal@ms-ir.com / brett@haydenir.com
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