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Publish Date : 12-May-2015

Ormat Technologies Inc. has announced that after being selected through a competitive bid process, its 100% owned subsidiary, Orandina I S.p.A., has been offered a $98.8 million engineering, procurement and construction (EPC) contract for a geothermal project in Chile.

The contract will see Ormat providing two air-cooled Ormatenergy converters for a high enthalpy reservoir.

The project would reach completion by mid-2017.

Isaac Angel, CEO of Ormat Technologies, said, "This latest order is a powerful validation of our binary technology and supports our growing product segment backlog. This project award is the latest confirmation that geothermal world leaders recognize that Ormat's technology is also suited for high enthalpy. This solution delivers economic value, a positive environmental impact and mitigates deployment risk adopting its modular methodology, as recently confirmed in New Zealand and East Africa as well. This contract significantly increased our products backlog and will support future revenues for this segment."

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