HS Orka receives permit for 80 MW Reykjanes extension
Arrival of HS Orka's Fuji 50 MW Turbine in Iceland (source: Magma Energy)
Alexander Richter
18 Sep 2011
Alterra Power's Icelandic subsidiary HS Orka receives permit for the planned 80 MW extension of the Reykjanes geothermal power plant in Iceland, to install a currently-owned 50 MW turbine as well as a 30 MW low pressure turbine.
In a release by Alterra Power Corp. (TSX:AXY) the company announces that HS Orka has received a permit the planned 80 MW expansion of the Reykjanes geothermal power plant in Iceland. The permit formally allows Alterra to install and place into service a new, currently-owned 50 MW turbine, as well as a 30 MW low pressure turbine that will be powered from existing steam production.
Separately, Alterra is continuing its effort to finalize power purchase arrangements with aluminum smelter NorEural Helguvik sf. (a subsidiary of Century Aluminum Co., “NorEural”) and other industrial power purchasers. Results from a pending arbitration related to a prior power purchase agreement with NorEural are expected this fall.
Julius Jonsson, CEO of Alterra’s Icelandic subsidiary, HS Orka hf (“HS Orka”), said, “I am pleased that we have now been granted regulatory approval to move forward with this major expansion in a uniquelyrich resource area. Full attention is now focused on finalizing our power purchase and financing arrangements, which we intend to achievein the next few months.”
Source: company release via Benzinga
