Sarulla Geothermal Power Plant Expands to 330 MW With Third and Final Unit Commencing Commercial Operation
May 08 2018 - 8:00AM
Ormat Technologies Inc. (NYSE:ORA) today announced that NIL 2, the
third unit of the Sarulla geothermal power plant, has commenced
commercial operation, bringing the project to its full capacity of
330 MW.
Located in North Sumatra, Indonesia, the 330 MW
Sarulla power plant is one of the world's largest geothermal power
plants and it includes three units of approximately 110 MW each,
utilizing both steam and brine extracted from the geothermal field
to increase the power plant’s efficiency.
In addition to being one of the sponsors, Ormat
also provided the initial conceptual design of the Geothermal
Combined Cycle Unit (GCCU) power plant and supplied its Ormat
Energy Converter (OEC). The OECs are producing over 40% of the
total power by utilizing low pressure steam and the separated
brine, and as such maximizing resource exploitation for maximum
power output.
SIL, the first unit of the power plant,
commenced commercial operation in March 2017 and NIL 1, the second
unit, commenced commercial operation in October 2017. Both units
are performing well. NIL 2, the third unit, commenced commercial
operation on May 4, 2018, reaching full completion under the Energy
Sales Contract on schedule.
“Ormat believes Asia is a region with
significant untapped geothermal potential, and we expect to use the
success at the Sarulla plant as a stepping stone to additional
opportunities,” commented Isaac Angel, CEO of Ormat Technologies.
“Our relationship with ORIX Corporation, coupled with our
participation in one of the world’s largest geothermal power
plants, serve as important differentiators in Asia and globally for
Ormat.”
The Sarulla 330 MW power plant, sells its power
to the state-owned Indonesian Power Company PT Perusahaan Listrik
Negara (PLN) under a 30 year Energy Sales Contract. The Sarulla
power plant is operated by Sarulla Operations Ltd. (SOL), an
operation company established by a consortium consisting of Medco
Energi Internasional Tbk, Inpex Corporation, Itochu Corporation,
Kyushu Electric Power Co. Inc., and an Ormat subsidiary that holds
a 12.75% equity interest.
ABOUT ORMAT TECHNOLOGIES
With over five decades of experience, Ormat
Technologies, Inc. is a leading geothermal Company and the only
vertically integrated Company engaged in geothermal and recovered
energy generation (REG), with the objective of becoming a leading
global provider of renewable energy. The Company owns, operates,
designs, manufactures and sells geothermal and REG power plants
primarily based on the Ormat Energy Converter – a power generation
unit that converts low-, medium- and high-temperature heat into
electricity. With 77 U.S. patents, Ormat’s power solutions have
been refined and perfected under the most grueling environmental
conditions. Ormat has 530 employees in the United States and 770
overseas. Ormat’s flexible, modular solutions for geothermal power
and REG are ideal for the vast range of resource characteristics.
The Company has engineered, manufactured and constructed power
plants, which it currently owns or has installed to utilities and
developers worldwide, totaling over 2,600 MW of gross capacity.
Ormat’s current 851 MW generating portfolio is spread globally in
the U.S., Guatemala, Guadeloupe, Honduras, Indonesia and Kenya. In
March 2017, Ormat expanded its operations to provide energy storage
and energy management solutions, by leveraging its core
capabilities and global presence as well as through its Viridity
Energy Solutions Inc. subsidiary, a Philadelphia-based Company with
nearly a decade of expertise and leadership in energy storage,
demand response and energy management.
ORMAT’S SAFE HARBOR STATEMENT
Information provided in this press release may
contain statements relating to current expectations, estimates,
forecasts and projections about future events that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally relate to Ormat's plans, objectives and expectations for
future operations and are based upon its management's current
estimates and projections of future results or trends. Actual
future results may differ materially from those projected as a
result of certain risks and uncertainties. For a discussion of such
risks and uncertainties, see "Risk Factors" as described in Ormat
Technologies, Inc.'s Form 10-K filed with the SEC on March 16,
2018.
These forward-looking statements are made only
as of the date hereof, and we undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
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Ormat
Technologies Contact:Smadar LaviVP Corporate Finance and Head of
Investor Relations775-356-9029 (ext. 65726)slavi@ormat.com |
Investor
Relations Agency Contact:Rob Fink Hayden -
IR646-415-8972rob@haydenir.com |
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