The contracts are for the Centennial Binary Plant which will be constructed in the Tauhara Geothermal field in New Zealand. In total the two contracts are valued at $42 million USD. Completion of the project will take approximately 2 years. New Zealand is a country where both partners have extensive experience. Contact energy is the largest geothermal power plant owner and operator and generates about 28% of New Zealand's power. This will be the second plant the company buys from Ormat , with a geothermal binary plant operating since 2005. Ormat has been designing and supplying geothermal power solutions to New Zealand since 1986, this plant will be the 12th plant the company builds with a capacity of over 250 MW in New Zealand.
Dita Bronicki, CEO of Ormat Technologies, was quoted as saying;, "We are very pleased to receive this repeat contract from Contact Energy and are excited for the opportunity to once again work with the company's geothermal team. The award of these contracts demonstrates the trust that Contact Energy has in our ability to contribute experience and knowledge to the development of this new geothermal field, and we are looking forward to delivering a great performing power plant on schedule." She further added; "These contracts increase our geothermal products backlog by $58 million for the second quarter and $134 million since the beginning of the year, including $50 million that is still subject to notice to proceed. We view this milestone as a demonstration of the effectiveness and reliability of Ormat's solutions and it further reinforces the applicability of our renewable energy solutions to the world electricity markets."
For additional information:
http://www.ormat.com/news.php?did=137&aid=7ba36f0c1afb1fcb6f4b6c9705541e44
