Nevada Geothermal Proceeds on Faulkner Plant

Nevada Geothermal Power Inc. (NGP) and Ormat Technologies, Inc. announced that NGP Blue Mountain 1 LLC has issued a Full Notice to Proceed (FNTP) under its fixed-price, date-certain engineering, procurement and construction (EPC) contract with Ormat Nevada Inc. to supply and construct the first phase of the 49.5-megawatt (MW) Faulkner 1 geothermal power plant at Blue Mountain, Nevada.

Ormat has completed the engineering and design and started procurement of certain plant components under Limited Notices to Proceed (LNTP), which have been in place since February 2008. Site work will now commence immediately. Under the EPC contract, Ormat guarantees to achieve substantial completion no later than December 31, 2009. The electric power generated by Faulkner 1 will be sold to Nevada Power Company under a 20-year Power Purchase Agreement.

“Ormat is a recognized world leader in the geothermal industry and with Ormat’s expertise in the construction of binary geothermal power plants, we are supremely confident that NGP’s Blue Mountain Faulkner 1 geothermal power plant will be up and running at the end of December 2009. We appreciate Ormat’s cooperation through the financing process,” said Brian Fairbank, president and CEO of NGP.

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