Nevada Regulators Approve Geothermal PPA

Ormat Technologies, Inc. announced that two 20-year power purchase agreements (PPAs) signed between Nevada Power Company, a subsidiary of Sierra Pacific Resources and two of its subsidiaries, recently received the approval of the Public Utilities Commission of Nevada.

Under these PPAs, Ormat’s Buffalo Valley Project in Lander County and Carson Lake Project in Churchill County will produce between 18 megawatts (MW) and 30 MW each for Nevada Power. The two new geothermal power plants are expected to begin commercial production by the end of 2009. Sierra Pacific Power will receive the energy from these two power plants until a transmission line between Sierra Pacific Power and Nevada Power is completed in 2011. Ormat Technologies, Inc., primarily engaged in the geothermal and recovered energy power business, operates six geothermal power plants in the U.S.: Brady, Heber, Mammoth, Ormesa, Puna and Steamboat. Also, Leyte in the Philippines, Zunil in Guatemala, Olkaria in Kenya, and Momotombo in Nicaragua. In the U.S., Ormat owns and operates four OREG1 Recovered Energy Generation plants.