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Operations of Ormat’s 48 McGinness Hills III geothermal power plant to start next month

Alexander Richter Alexander Richter 7 Nov 2018

In a recent investors call, Ormat Technologies announced that it is in final work on the installation of the 48 MW McGinness Phase 3 geothermal power plant project in Nevada, expecting a start of operation in early December 2018.

In a call yesterday with analysts, Isaac Angel, CEO of Ormat Technologies, provides details on the company’s growth plan.

Ormat Technologies added 67 MW in geothermal power generation capacity from organic growth and acquisition.

It expanded its Olkaria III geothermal plant in Kenya with 11 MW, added 38 MW in capacity through the acquisition of U.S. Geothermal (plants are Neal Hot Springs, San Emidio and Raft River), added 14 MW through its work at Sarulla (NIL 2) and added 4 MW through the repowering of the Brady geothermal plant in Nevada. The MW numbers for Sarulla in Indonesia are accounted for on the basis of a 12.75% minority interest that Ormat holds in the joint venture.

The company expects to add between 115 MW and 125 MW by the end of 2020, based on existing prospects and business development plans.

The projects are:

  • U.S. – McGinness Hills, Phase 3 – 48 MW – expected COD December 2018
  • U.S. Tungsten (solar plant) – 7 AC MW – expected COD Q1 2019
  • U.S. – CD4 – project capacity of 20-30 MW – expected COD 2020 (PPA tbd)
  • Guadeloupe – Bouillante – 10 MW – expected COD 2020 (PPA tbd)
  • U.S. Steamboat Hills Enhancement – over 16 MW – expected COD 2020

The Bouillante project COD is subject to the execution of a power purchase agreement.

Isaac Angel, CEO of Ormat Technologies during the recent investor call, “During the past month, we made significant efforts to expedite the commencement of the 48 MW McGinness Hills III power plant now planned for early December 2018. We’re also planning to enhance the upper Steamboat complex in Nevada which will include Steamboat Hills and Galena 2 power plant. At Steamboat Hills we expect to add over 16 megawatt to the existing power plant before the end of 2020, by adding new equipment and optimizing the Geothermal field. The additional capacity from Steamboat Hills will also be sold to SCAPPA under the existing portfolio PPA.”