Geothermal expertise paying off for Ormat

BY BILL O'DRISCOLL • bodriscoll@rgj.com • July 9, 2008 For years, Ormat Technologies Inc. quietly and cleanly made electricity at Steamboat south of Reno using hot water extracted from aquifers thousands of feet underground. Now with the growing din of "going green," Ormat is capitalizing on its decades-long expertise in the field of geothermal energy. In the past two months alone, the independent power producer has: Launched Galena 3, its newest plant at the Steamboat complex near the U.S. 395-Mount Rose Highway junction, boosting overall production there to 100 megawatts of electricity, which it sells to Sierra Pacific Power Co. via a nearby substation. Inked a $16 million supply contract for a new geothermal power plant in Turkey. Signed two more contracts, these worth $42 million, for supplies and construction of a... [read full story]