Ormat Completes the Don A. Campbell Geothermal Power Plant With Full 16 Megawatt (net) Output
06 Janeiro 2014 - 8:00PM
Ormat Technologies, Inc. (NYSE:ORA) announced today that it
completed the Don A. Campbell geothermal power plant in Mineral
County, Nevada. The plant is producing its full capacity of 16
megawatts (net) and performing as expected as of December 6, 2013.
The Don A. Campbell facility, formerly Wild Rose, is receiving a
full rate of $99 per megawatt hour with no annual escalation under
the terms of the Power Purchase Agreement with Southern California
Public Power Authority (SCPPA). SCPPA is reselling the power to Los
Angeles Department of Water and Power (LADWP) and Burbank Water and
Power (BWP). Ormat wheels the power from the Don A. Campbell plant
to SCPPA over NV Energy's transmission grid including the new One
Nevada Transmission Line (ON Line) recently placed in service,
making Ormat the first independent power producer to use the ON
Line to export renewable energy to customers in
California.
"Completing the Don A. Campbell geothermal power plant and
reaching full capacity is a historical milestone in our continued
partnership with SCPPA to bring reliable, renewable geothermal
power to California's ratepayers," said Yoram Bronicki, president
and chief operating officer at Ormat. "We commend NV Energy
for their success in making statewide transmission in Nevada a
possibility, thereby allowing resources in northern Nevada to serve
customers not only in southern Nevada but also in southern
California through ON Line's completion."
With a low resource temperature of approximately 260 degrees
Fahrenheit, the Don A. Campbell geothermal power plant features
Ormat Energy Converter (OEC) technology, allowing for
cost-effective power generation from one of the lowest temperature
geothermal resources ever deployed on a utility scale by
Ormat. The power plant was completed in nine months from start
of mechanical construction to full output.
"Ormat's holistic approach to geothermal development, matching
power plant design to the specific characteristics of the
geothermal resource through rigorous exploration and field
development, allowed our team of experts to work together to
develop this successful project," Bronicki added. "The
short construction timeline, followed by just one week of startup
operation from initial synchronization to full power, is a
testament to the quality of our products and our ability to execute
on time and on budget.
"I'd like to extend gratitude to the Ormat team for their great
effort that made this project a success and, with its completion, a
symbol commemorating our late colleague Don A. Campbell. His talent
and experience in the geothermal industry led to the identification
of this very special field. He will truly be missed."
About Ormat Technologies, Inc.
With over four 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 over 82
U.S. patents, Ormat's power solutions have been refined and
perfected under the most grueling environmental conditions. Ormat
has over 500 employees in the United States and about 600 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 supplied to utilities and developers
worldwide, totaling approximately 1750 MW of gross capacity.
Ormat's current generating portfolio of 611 MW (net) 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 March 11, 2013.
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.
CONTACT: Ormat Technologies Contact:
Dita Bronicki
CEO
775-356-9029
dbronicki@ormat.com
Investor Relations Contact:
Rob Fink/Brad Nelson
KCSA Strategic Communications
212-896-1206 (Fink)/212-896-1217 (Nelson)
rfink@kcsa.com/bnelson@kcsa.com
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