Operational since June 15, 2012, Ormat Technologies now reports that its 30 MW McGinness Hills geothermal plant in Nevada met the requirements for commercial operation.
In a release last week, Ormat Technologies, “announced that its McGinness Hills geothermal power plant located in Lander County, Nevada met the requirements for commercial operation under the OFC 2 Senior Secured Notes.
The 30-megawatt (net capacity) power plant has been in full operation since June 15, 2012, selling the renewable electricity to NV Energy under a 20-year power purchase agreement at approximately half of the full energy price. Full energy prices are expected to be paid upon NV Energy’s approval of the Commercial Operation Date (COD). With the addition of McGinness Hills, Ormat’s total portfolio generating capacity grows to 586 MW.
“We are thrilled to continue our long-standing relationship with NV Energy as we expand our geothermal portfolio,” said Yoram Bronicki, president and chief operating officer of Ormat. “Today’s announcement, coupled with the opening earlier this year of the 18 MW (net capacity) Tuscarora power plant, reinforces Ormat’s commitment to expanding the renewable energy market across the state of Nevada and throughout the world.
“In addition, McGinness Hills demonstrates our ability to develop a successful greenfield project categorized as a blind system. Blind geothermal systems, defined by a lack of surface hot springs or fumaroles, are the future of geothermal energy growth in the western United States,” Bronicki added.
The power plant features the Ormat Energy Converter, a power generation unit that converts low-, medium- and high-temperature heat into electrical energy. With the McGinness Hills project, advance techniques were implemented that provide over 10 percent improvement in brine use efficiency.
“We are grateful for the ongoing support and cooperation of the utility, state, county and federal agencies in bringing this project on line ahead of schedule. Not only does this help the state realize its RPS (renewable portfolio standard) goals, it promotes the use of renewables and delivers the benefits that come along with them,” Bronicki said.
Earlier this year, NV Energy approved the COD for the Tuscarora geothermal power plant in Elko County, Nevada. Following approval, the plant is receiving full energy prices and was also given retroactive payments associated with the January 11, 2012 COD.”
Source: Company release via Marketwatch