2.6.2005: Meldung: Ormat Technologies: New Contract
SPARKS, Nev., June 1 / Ormat Technologies today announced that, through its wholly owned subsidiaries, it has entered into supply and construction agreements for approximately US $9,150,000 for an ORMAT Recovered Energy Generation (REG) power plant with a pipeline company in Western Canada (the "Supplier"). The facility will have a design capacity of 5.0 MW net and will convert recovered waste heat from an existing gas turbine driving a compressor on the Supplier"s pipeline into electrical power.
The Supplier will sell the electricity generated by the facility to the local Utility under a long-term power purchase agreement.
The ORMAT Energy Converter is a closed loop, Organic Rankine Cycle-based power conversion technology, which converts recovered heat to electric power without the need for any additional fuel or water. The ORMAT Recovered Energy Generation System provides for a power generation facility with minimal environmental impact.
Lucien Y. Bronicki, Chairman of the Board and Chief Technology Officer of Ormat Technologies, said, "This agreement provides further validation of the importance of recovered energy, a market with high growth potential. The agreement marks ORMAT"s third achievement in recovered energy this year. As previously announced, Ormat had entered into a power purchase agreement to supply 22 MW from recovered energy generation plants in North and South Dakota, and separately, entered into a letter of intent to provide a 4.95 MW facility to a utility in the Northwestern United States. We are very pleased with our progress on this area."
About Ormat Technologies
Ormat Technologies, Inc. is a vertically integrated company primarily engaged in the geothermal and recovered energy power business. The company designs, develops, builds, owns and operates geothermal power plants. It also designs, develops and builds, and plans to own and operate, recovered energy-based power plants. Additionally, the company designs, manufactures and sells geothermal and recovered energy power units and other power generating equipment, and provides related services. Ormat products and systems are covered by more than 70 patents. Ormat currently has operations in the United States, Israel, the Philippines, Guatemala, Kenya, and Nicaragua.
Ormat Technologies Contact: Investor Relations Contact Dita Bronicki Jeff Corbin/Todd Fromer CEO and President KCSA Worldwide +1-775-356-9029 212-896-1214/212-896-1215 firstname.lastname@example.org email@example.com/ firstname.lastname@example.org