Market Overview

Ormat Announces Commercial Operation Of McGinness Hills Geothermal Power Plant

Share:

Ormat Technologies, Inc. (NYSE: ORA) announced today 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.

Posted-In: News

 

Related Articles (ORA)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→