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Ormat Technologies, Inc. (opm) - Ormat Successfully Completed The Ngatamariki Geothermal Plant

With 4% over capacity, Ngatamariki Becomes World’s Largest Single-Site Binary Geothermal Power Plant

September 3, 2013 Ormat Technologies, Inc. (NYSE: ORA) announced today that it has successfully completed the 100 MW installed capacity Ngatamariki geothermal power plant in New Zealand under the $142 million Supply and Engineering, Procurement and Construction (EPC) contracts signed with Mighty River Power (MRP) in June 2011.

Mighty River Power’s modular Ngatamariki geothermal power plant is the largest singular binary power plant ever constructed. The Ormat Energy Converters are directly fed by a high temperature (380°F / 193 ºC) geothermal fluid. Until now, on such resources, only steam turbines or Geothermal Combined Cycle plants were used. In this configuration, 100% of the exploited geothermal fluid is reinjected with zero water consumption and low emissions, minimizing the impact on the environment with no depletion of the underground reservoir.

Ngatamariki was built in a record time of 24 months from the contract award. During commissioning, the power plant generated 150GWh and produced its first income stream for MRP.

Dita Bronicki, CEO of Ormat Technologies, said, “We are pleased with the outperformance of the Ngatamariki power plant and we are confident that the effectiveness and reliability of Ormat's technology will continue to benefit our clients. During the last 25 years, Ormat has installed in New Zealand approximately 350 MW in 14 power plants, 60% of the new geothermal capacity. We look forward to expanding our activity with our partners in New Zealand and share our accumulated knowledge and experience in future geothermal development in that county and around the world.”

Quelle: 3. September 2013, www.ormat.com

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