Ormat signs agreement for geothermal power plant project

Reno, Nev., April 25, 2012 – A unit of Ormat Technologies will supply a $61.2 million engineering, procurement and construction contract through a competitive bid process.

Under the expected EPC contract, which is currently under negotiation, Ormat will provide two air-cooled Ormat Energy Converters for a geothermal power plant project in North America. Additional information about the project was not available at press time.

The project is slated for completion by the end of 2013. Until the signature of the full EPC contract the parties have entered into an interim agreement in the amount of about $9 million for a limited scope of work to ensure timely completion of the project.

Ormat designs, develops, owns and operates geothermal and recovered energy-based power plants around the world. Additionally, the company designs, manufactures and sells geothermal and recovered energy power units and other power-generating equipment, and provides related services.

Ormat has engineered and built power plants that it currently owns or has supplied to utilities and developers worldwide, totaling about 1,410 MW of gross capacity.

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