Ormat Technologies, one of the world’s leading geothermal green energy power plant companies, has already tapped the earth’s geothermal energy sources in Europe, the USA, Russia, Indonesia, Central and South America, and a 100 Megawatt plant in New Zealand.
The company’s geothermal energy expertise is becoming so accepted that its rising stocks are a boon for Israel’s Geothermal industry.
A new Ormat geothermal plant project, the Don A. Campbell Geothermal Power Plant, has just been completed in Mineral County Nevada in the USA. As reported by Market Watch, the plant is producing 16 Net Megawatts of electric power.
The project is receiving a full payment rate of $99 per megawatt hour with no annual escalation under the terms of a Power Purchase Agreement made with Southern California Public Power Authority (SCPPA). SCPPA is reselling this power to the Los Angeles Department of Water and Power (LADWP), one of California’s largest consumer power entities.
Ormat already has several geothermal power plants operating in the western United States, with three operating in California itself. One of Ormat’s oldest completed geothermal plants is a 5.2 Mega Watt plant operating in Svartsengi Iceland, a location where geothermal power literally “spews out of the ground”.
Ormat’s largest geothermal plant to date is the 100 MW Ngatamariki geothermal power plant in New Zealand.
An even larger geothermal project is planned for the Indonesian island of Sumatra. When completed, it will provide around 330 Megawatts of electric power.
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Photo of New Zealand geothermal power plant by Soliclima