Nevada Geothermal Power Proceeding with Ormat on Blue Mountain Faulkner 1 Power Plant
Nevada Geothermal Power Inc. (NGP) (TSX VENTURE: NGP)(OTCBB: NGLPF) and Ormat Technologies Inc. (NYSE: ORA) announced today that NGP Blue Mountain I LLC (NGP I) has issued a US$20 million Limited Notice to Proceed (LNTP) under a fixed-price, date-certain engineering, procurement and construction (EPC) contract to be signed with Ormat Nevada Inc. to supply and construct the Phase 1 power plant of NGP's planned geothermal power development at Blue Mountain, Nevada.
Ormat will commence detailed engineering design, manufacturing and purchasing of certain long lead items for Blue Mountain's, Faulkner 1 geothermal power plant in order to meet the guaranteed substantial completion date of December 31, 2009. Full release of the EPC contact is subject to finalizing of the financing for the project and is expected to occur before June 30, 2008.
"Ormat is a recognized world leader in the geothermal industry and the Ormat binary technology complements Blue Mountain's resource parameters and chemistry most efficiently. The plant will extract more megawatt-hours of energy per unit volume of geothermal fluid compared to steam flash or other available technologies maximizing the overall megawatt potential for the Blue Mountain geothermal field," stated Brian Fairbank, President and CEO of NGP.
The plant design incorporates Ormat's proprietary power generation technology with water-cooling for maximum efficiency. The output of the plant will meet the power delivery requirements of the 20-year Power Purchase agreement between NGP and the Nevada Power Company.
"We are delighted to have been selected as the supplier and contractor of choice for NGP's first power plant. Our technology is perfectly suited for the Blue Mountain resource and we are looking forward to delivering a great performing power plant on schedule," said Dita Bronicki, CEO.
Blue Mountain, located 30 kilometers (20 miles) west of the town of Winnemucca, Nevada, is ideally situated for development. The proposed Faulkner I geothermal plant will require a 20-mile long transmission line over relatively flat, undeveloped desert land to a connection point located on the Utility's 120kV-transmission line north of Mill City, Nevada. The electric power will be sold to Nevada Power Company under a 20-year Power Purchase Agreement for up to 35 MW gross of geothermal power. Phase I at Blue Mountain is expected to commence power generation in late 2009.
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 and 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 operates the following geothermal and recovered energy-based power plants: in the United States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala - Zunil and Amatitlan; in Kenya - Olkaria; and in Nicaragua - Momotombo.
About Nevada Geothermal Power Inc.
Nevada Geothermal Power Inc. is a renewable energy company developing geothermal projects in the United States to provide electrical energy that is clean, renewable and sustainable. NGP currently owns a 100% leasehold interest in four properties: Blue Mountain that is expected to commence power generation late 2009 for up to 35 MW gross of geothermal power, Pumpernickel, Black Warrior, all located in Nevada and Crump Geyser in Oregon.
Full article and disclaimers at: ORA and Nevada Geothermal Blue Mountain project news
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