Ormat Technologies, Inc. Signs a New 20-Year PPA with NV Energy
Ormat Technologies, Inc. announced that one of its subsidiaries has signed a 20-year
power purchase agreement with NV Energy to purchase 30 megawatts from the McGinness Hills Geothermal project, which is currently under construction. The PPA is subject to various approvals including the approval of the Public Utilities Commission of Nevada and is projected to come on line in 2012.
When completed, the McGinness Hills project will increase the total output supplied from Ormat to NV Energy, Inc. to approximately 135 MWs, helping the utility to meet its renewable energy requirement. The renewable portfolio standard legislation requires 15 percent of all electricity generated in Nevada to be derived from new renewable energy sources by the end of 2012. Read full story:
