First Unit of the Sarulla Geothermal
Power Plant Starts to Provide Indonesia with 110 MW of Clean,
Renewable Energy; Plant combines Toshiba’s
flash and Ormat’s binary technologies to maximize
efficiency
Toshiba Corporation (TOKYO:6502) and Ormat Technologies Inc.
(NYSE:ORA) today announced that the first unit of the Sarulla
geothermal power plant, one of the world's largest power plants,
located in Indonesia's North Sumatra, has commenced commercial
operation.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/1aab7da4-5cad-4fb5-ab04-ef0e9aec610b
The approximately 110 MW power plant, which combines flash and
binary technologies to provide a high efficiency power plant and
100% reinjection of the exploited geothermal fluid, is operated by
Sarulla Operations Ltd. (SOL). As participants in the project,
Toshiba supplied the geothermal steam turbines and generators
(STGs) for the flash systems, while Ormat provided the conceptual
design of the Geothermal Combined Cycle Unit (GCCU) power plant and
supplied its Ormat Energy Converter (OEC), which serve as the
condensing units for the steam turbines and utilize the separated
brine for maximum resource exploitation and maximum power output.
Toshiba and Ormat will continue to collaborate strategically on
global promotion of highly-efficient geothermal combined cycle
flash and binary systems, and both companies continue to seek to
utilize and promote renewable energy globally.
Commenting on the official start, Mr. Takao Konishi, Vice
President of Toshiba's Energy Systems & Solutions Company said,
“We are very proud to have installed our highly reliable geothermal
STGs in one of the world’s largest geothermal power plants. Toshiba
has the number one market share in the geothermal sector. We
continue to support development of power and infrastructure
solutions in Indonesia.”
Isaac Angel, Ormat’s CEO, added, “The commencement of commercial
operation at Sarulla is a significant milestone for Ormat, both as
an owner of SOL and as a supplier of our 25-year-proven binary
technology. The Sarulla supply contract is the largest single
contract that Ormat has signed to date. We manufactured and
delivered our equipment ahead of schedule, mainly due to the
improvements implemented across our entire value chain and to our
professional teams. We continue to share our expertise as work
continues on the second and third units of the Sarulla project that
are expected to come on line by 2017 and 2018, respectively.
Ormat’s proven GCCU technology, which was also utilized in the
Sarulla reservoir, will assure optimal and sustainable utilization
of the resource to deliver to Indonesia clean, cost effective and
baseload capacity.”
Toshiba and Ormat have fostered a cooperative relationship
through the Sarulla project. After signing a Strategic
Collaboration Agreement in 2015, the companies also won orders to
supply STG and OEC, respectively, for Unit 2 of the Kizildere III
Geothermal Combined Cycle Unit Power Plant in Turkey. This project
is now making smooth progress.
Project Outline
1. Project |
Sarulla Geothermal Power Plant Project, Indonesia |
2. Operation Company |
Sarulla Operations Ltd. |
3. Sponsors |
Itochu Corporation - 25%Kyushu Electric Power Co. Inc. of Japan –
25% PT Medco Power Indonesia of Indonesia - 18.9975% INPEX
CORPORATION – 18.2525%*ORMAT International, Inc. – 12.75%Note: *
INPEX joined the Project by acquiring a 49% share in a Medco
affiliate through a wholly owned subsidiary in 2015. |
4.EPC Contractor |
Hyundai Engineering and Construction Co., Ltd. |
5. Site location |
Sarulla region, North Sumatra province, Indonesia |
6.Capacity |
320.8MW in three units |
About Toshiba
Founded in Tokyo in 1875, Toshiba Corporation is a Fortune
Global 500 company that contributes to a better world and better
lives with innovative technologies in Energy, Infrastructure and
Storage. Guided by the philosophy of “Committed to People,
Committed to the Future,” Toshiba promotes operations through a
global network of 551 consolidated companies employing 188,000
people, with annual sales surpassing 5.6 trillion yen (US$50
billion; March 31, 2016).
Find out more about Toshiba at www.toshiba.co.jp/index.htm
About Ormat Technologies
With over five decades of experience, Ormat
Technologies, Inc. is a leading geothermal company and the only
vertically integrated company engaged in geothermal and recovered
energy generation (REG), with the objective of becoming a leading
global provider of renewable energy. 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 73 U.S. patents, Ormat’s power solutions have
been refined and perfected under the most grueling environmental
conditions. Ormat has 474 employees in the United States and over
700 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 over 2,200 MW of
gross capacity. Ormat’s current 713 MW generating portfolio is
spread globally in the U.S., Guatemala, Guadeloupe, and Kenya.
Ormat’s Safe Harbor
Statement
Information provided in this press release
contains statements that address activities, events or developments
that we expect or anticipate will or may occur in the future,
including such matters relating to current expectations, estimates,
forecasts, Ormat’s business strategy and goals, development or
operation of assets, market and industry developments and the
growth of Ormat’s business and operations that are “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995. When used in this press release, the words “may”,
“will”, “could”, “should”, “expects”, “plans”, “anticipates”,
“believes”, “estimates”, “predicts”, “projects”, “potential” or
“contemplate” or the negative of these terms or other comparable
terminology are intended to identify forward-looking statements,
although not all forward-looking statements contain such words or
expressions. 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. Although we
believe that our plans and objectives reflected in or suggested by
these forward-looking statements are reasonable, we may not achieve
these plans or objectives. You should read this press release
completely and with the understanding that actual future results
and developments may differ materially from those projected as a
result of a number of risks and uncertainties, many of which are
beyond our control. 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 1, 2017.
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, even though our situation
may change in the future.
Ormat Technologies Contact:
Smadar Lavi
slavi@ormat.com
Investor Relations
775-356-9029 (ext. 65726)
Investor Relations Agency Contact:
Rob Fink/Brett Maas
Hayden - IR
646-415-8972/646-536-7331
rob@haydenir.com / brett@haydenir.com
Toshiba Corporation Contact
Seiji ISHIBASHI
Public Relations & Investor Relations Div.
Phone: +81-3-3457-2100
Email: media.relations@toshiba.co.jp
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