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Publish Date : 13-May-2015

According to Ormat Technologies, Inc., its wholly owned subsidiary, Orandina I S.p.A., was selected through a competitive bid process and have signed a $98.8 million engineering, procurement and construction (EPC) deal for a geothermal project in Chile.

Under the EPC contract, Ormat will be responsible for supply of two air-cooled ORMAT® ENERGY CONVERTER (OEC) for a high enthalpy reservoir. Completion of the project is scheduled 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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