Sarulla Geothermal Power Plant Capacity Expands to 220 MW With Second Unit Commencing Commercial Operation
10 October 2017 - 11:30PM
Ormat Technologies Inc. (NYSE:ORA) today announced that the second
unit of the Sarulla geothermal power plant, one of the world's
largest power plants, located in Indonesia's North Sumatra, has
commenced commercial operation.
The Sarulla power plant includes three units of
approximately 110 MW each, utilizing both steam and brine extracted
from the geothermal field to increase the power plant’s efficiency.
SIL, the first unit of the power plant commenced commercial
operation on March 17, 2017 and is performing well. The second
unit, NIL 1, completed successfully its testing and commenced COD
on October 2, 2017 selling additional 110 MW to the state-owned
Indonesian power company PT Perusahaan Listrik Negara (PLN) under a
30 years Energy Sales Contract. Sarulla power plant is operated by
Sarulla Operations Ltd. (SOL). The third unit, NIL 2, is under
construction and SOL expects the unit to commence operation in
2018.
SOL is a consortium consists of Medco Energi
Internasional Tbk, Inpex Corporation, Itochu Corporation, Kyushu
Electric Power Co. Inc., and Ormat subsidiary that hold 12.75%
equity interest.
About Ormat Technologies
With over five decades of experience, Ormat
Technologies, Inc. is a leading geothermal company and the only
vertically integrated company engaged in geothermal and recovered
energy generation (REG), with the objective of becoming a leading
global provider of renewable energy. The company 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. With 73 U.S. patents, Ormat’s power solutions have
been refined and perfected under the most grueling environmental
conditions. Ormat has 530 employees in the United States and 720
overseas. Ormat’s flexible, modular solutions for geothermal power
and REG are ideal for the vast range of resource characteristics.
The company has engineered, manufactured and constructed power
plants, which it currently owns or has installed to utilities and
developers worldwide, totaling over 2,200 MW of gross capacity.
Ormat’s current 776 MW generating portfolio is spread globally in
the U.S., Guatemala, Guadeloupe, Honduras, Indonesia and Kenya.
Ormat also intends to expand its operations and provide energy
management and energy storage solutions, by leveraging its core
capabilities and global presence as well as through its Viridity
Energy Solutions, Inc. subsidiary, a Philadelphia-based company
with nearly a decade of expertise and leadership in demand
response, energy management and storage.
Ormat’s Safe Harbor Statement
Information provided in this press release may
contain statements relating to current expectations, estimates,
forecasts and projections about future events that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally relate to Ormat's plans, objectives and expectations for
future operations and are based upon its management's current
estimates and projections of future results or trends. Actual
future results may differ materially from those projected as a
result of certain risks and uncertainties. For a discussion of such
risks and uncertainties, see "Risk Factors" as described in Ormat
Technologies, Inc.'s Annual Report on Form 10-K filed with the
Securities and Exchange Commission on March 1, 2017.
These forward-looking statements are made only
as of the date hereof, and we undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
Ormat Technologies Contact:Smadar LaviHead of
Investor Relations775-356-9029 (ext. 65726)slavi@ormat.com
Investor Relations Agency Contact:Rob Fink/Brett
MaasHayden - IR646-415-8972/646-536-7331rob@haydenir.com /
brett@haydenir.com
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