Geothermal power purchase agreements under way in Nevada

[Doondoo]

Ormat Technologies, Inc. announced that two of its 20-year power purchase agreements were approved by the Public Utilities Commission of Nevada.

The PPAs were signed between the Nevada Power Company, a subsidiary of Sierra Pacific Resources, and two of its subsidiaries, Renewable Energy Access reported. Recently there has been discussion over the potential for geothermal power in the United States.

Geothermal power has an impressive track record of being clean and reliable and is becoming competitively priced with conventional power generation, said Tom Fair, executive for Sierra Pacific Resources ' renewable energy program. The two geothermal power plants are expected to be in operation on a commercial scale by the end of 2009. A transmission line between Sierra Pacific Power and Nevada Power is scheduled to be completed in 2011.

Under the PPAs, Ormat's Buffalo Valley Project in Lander County and Carson Lake Project in Churchill County are each expected to produce between 18 and 30 megawatts annually.

Fuel diversity is important to our company and our customers, not only to meet the state's goals for renewable energy standards, but to help stabilize energy prices during times of volatile energy markets, Fair said. Ormat Technologies, Inc. is a energy power business involved heavily in geothermal power. Currently, it owns six geothermal power plants, four of them in the United States.


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