Ormat gets USD350m loan guarantee for Nevada geothermal project

Tue Sep 27 2011, 09:29 AM

Ormat Technologies has secured a USD350m partial loan guarantee from the US Department of Energy (DOE) to help build a geothermal power plant in Nevada. The project includes three facilities in Pershing County, Lander County and Tuscarora, and will have a combined generating capacity of 113MW. Ormat will build the facilities in two phases, the first of which is expected to begin operating next year. Electricity generated by the project will be supplied to Nevada Power Company under a 20-year power purchase agreement.

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