Olkaria III Geothermal Power Station

Ormat Completed the Acquisition of TG Geothermal Portfolio, LLC; Increasing Its Total Operating Portfolio to 1.1 GW

Retrieved on: 
Wednesday, July 14, 2021
Ormat Technologies, Beowawe, Nevada, Geothermal power, Energy, Companies, Power stations, Olkaria III Geothermal Power Station

Following the acquisition, Ormat now owns and operates two geothermal power plants in Nevada at Dixie Valley and Beowawe, with a total net generating capacity of approximately 67.5 MW.

Key Points: 
  • Following the acquisition, Ormat now owns and operates two geothermal power plants in Nevada at Dixie Valley and Beowawe, with a total net generating capacity of approximately 67.5 MW.
  • The operating assets sell power under existing power purchase agreements.
  • Ormat plans to improve the acquired operating assets and implement synergies and cost reductions and expects these assets to generate $55 million in revenue and approximately $37 million in EBITDA in 2022.
  • Actual future results may differ materially from those projected as a result of certain risks and uncertainties.

Ormat Completes McGinness Hills Complex Expansion

Retrieved on: 
Monday, June 7, 2021
Ormat Technologies, Energy, Geothermal power, McGinness Hills Geothermal Complex, Renewable energy by country, Companies, Geothermal energy in the United States, Olkaria III Geothermal Power Station

RENO, Nev., June 07, 2021 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA) announced the completion of the expansion of its McGinness Hills Phase 3 geothermal power plant in Eastern Nevada.

Key Points: 
  • RENO, Nev., June 07, 2021 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA) announced the completion of the expansion of its McGinness Hills Phase 3 geothermal power plant in Eastern Nevada.
  • The expansion increases the power plant net capacity to approximately 69 MW, bringing the entire McGinness Hills complex capacity to a total of approximately 160 MW.
  • The recently completed McGinness Hills Phase 3 Expansion project on May 5, 2021 will provide an additional 21.25 MW to LADWP.
  • Doron Blachar, CEO of Ormat Technologies, said, The McGinness Hills Complex is the largest geothermal complex in Nevada and the fourth largest in the United States, providing clean, renewable, environmentally responsible energy to the residents of Nevada and Southern California.

Ormat Resumes Operation of Puna Power Plant

Retrieved on: 
Thursday, November 12, 2020
Ormat Technologies, Companies, Renewable energy by country, Renewable energy, Mammoth Geothermal Complex, Olkaria III Geothermal Power Station

Ormat expects to gradually ramp up production to approximately 15 MW by year end 2020, subject to the successful connection of an additional production well to the power plant.

Key Points: 
  • Ormat expects to gradually ramp up production to approximately 15 MW by year end 2020, subject to the successful connection of an additional production well to the power plant.
  • Ormat and Hawaiian Electric have worked closely together, and strived thorough challenges imposed by the COVID-19 pandemic in order to bring the Puna Power Plant back online for the residents of Hawaii.
  • Ormat 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.
  • In particular, our expectations as to the timing of the Puna Power Plant returning to normal operations depends on the progress in securing additional injection and production capacity.

Steamboat Hills Geothermal Power Plant Enhancement in Nevada Begins Commercial Operation

Retrieved on: 
Monday, June 22, 2020
Ormat Technologies, Energy, Companies, Reno, Nevada, Los Angeles Department of Water and Power, Geothermal energy, Olkaria III Geothermal Power Station

RENO, Nev., June 22, 2020 (GLOBE NEWSWIRE) -- 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.

Key Points: 
  • RENO, Nev., June 22, 2020 (GLOBE NEWSWIRE) -- 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.
  • 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, Ormats Steamboat Hills power plant has been producing environmentally responsible, advanced geothermal energy in Reno for the region.
  • 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.

Ormat Announces Closing of $59.3 Million Partnership Transaction for McGinness Hills Phase 3 Geothermal Power Plant

Retrieved on: 
Wednesday, August 21, 2019
Energy, Ormat Technologies, Geothermal power, Companies, Olkaria III Geothermal Power Station

RENO, Nev., Aug. 21, 2019 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA) today announced that one of its wholly owned subsidiaries that owns the 48MW McGinness Hills Phase 3 Geothermal power plant entered into a partnership agreement with a private investor.

Key Points: 
  • RENO, Nev., Aug. 21, 2019 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA) today announced that one of its wholly owned subsidiaries that owns the 48MW McGinness Hills Phase 3 Geothermal power plant entered into a partnership agreement with a private investor.
  • This transaction allows us to efficiently utilize tax incentives available to geothermal projects and create value for our shareholders.
  • The McGinness Hills Phase 3 geothermal power plant, located in Lander County, Nevada, began commercial operation on December 15, 2018.
  • The project sells its power under the 26-year Ormat Northern Nevada Geothermal Portfolio Power Purchase Agreement with Southern California Public Power Authority, which was announced in June 2017.