Steamboat Hills Geothermal Power Plant Enhancement in Nevada Begins Commercial Operation
22 Junho 2020 - 7:45AM
Ormat Technologies Inc. (NYSE: ORA) announced that the enhancement
of its Steamboat Hills geothermal power plant located near Reno,
Nevada is complete and achieved commercial operation on June 6,
2020. Enhancement work included the replacement of all old
generating unit equipment with new, state-of-the-art equipment and
resource modifications that increased the generating capacity of
the Steamboat complex by approximately 19 MW to a total of 84 MW.
The new equipment will increase the productivity and efficiency of
the power plant and is expected to reduce maintenance costs per
kWh.
The Steamboat Hills power plant continues to
sell its electricity under the current 25-year long term portfolio
power purchase agreement with Southern California Public Power
Authority (SCPPA), with 100% of the 28.4 MW of capacity going to
the Los Angeles Department of Water and Power.
Isaac Angel, CEO of Ormat Technologies, said,
“For more than 30 years, Ormat’s Steamboat Hills power plant has
been producing environmentally responsible, advanced geothermal
energy in Reno for the region. Today, Ormat unveiled the new
Steamboat Hills plant, benefitting from new and advanced technology
which will enable this resource to continue providing clean and
renewable power, more efficiently than before, for decades to come.
This new state-of-the-art facility will provide additional
electricity for 22,000 homes while offsetting four million tons of
CO2, providing the highest level of efficiency and safety in the
geothermal industry. The increased generation of our Steamboat
Hills power plant helps LADWP to make the transition to 100% clean
energy while maintaining a reliable and perpetual power supply for
Los Angeles”.
Mr. Angel added, “This additional capacity added
to our existing electricity portfolio helps us to mitigate the
decrease in our product backlog, which is affected by the
continuation and the increasing severity of the COVID-19 global
pandemic. Currently, we no longer expect to sign a significant
product sale contract in the coming months in a different market.
In light of this current situation, we are continuing our efforts
to expand and expedite our growth in the electricity segment and
energy storage segment.”
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 63 U.S. patents, Ormat’s power solutions have
been refined and perfected under the most grueling environmental
conditions. Ormat has 578 employees in the United States and 830
overseas. Ormat’s flexible, modular solutions for geothermal power
and REG are ideal for 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 3,000 MW of gross capacity.
Ormat’s current 914 MW generating portfolio is spread globally in
the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe.
Ormat expanded its operations to provide energy storage and energy
management solutions, by leveraging its core capabilities and
global presence as well as through its Viridity Energy Solutions
Inc. subsidiary.
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’s Form 10-K
filed with the Securities and Exchange Commission (“SEC”) on March
2, 2020 and from time to time, in Ormat’s quarterly reports on Form
10-Q that are filed with the SEC.
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 LaviVP Corporate Finance and Head
of Investor Relations775-356-9029 (ext. 65726)slavi@ormat.com |
Investor Relations Agency Contact:Rob FinkFNK
IR646-809-4048rob@fnkir.com |
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