Ormat Technologies closes acquisition of Hot Sulphur Springs II in Nevada
Steamboat Springs plant by Ormat, not directly related to story (source: Ormat)
Alexander Richter
11 Mar 2010
A subsidiary of Ormat Technologies Inc., has completed its acquisition of membership interests in Hot Sulphur Springs II LLC, which includes the Tuscarora geothermal project in Nevada.
In a release, “Ormat Technologies Inc., says a subsidiary has completed its acquisition of membership interests Hot Sulphur Springs II LLC, which includes the Tuscarora geothermal project in Nevada.
No terms were disclosed in a news release on the deal by the Ormat Nevada Inc. subsidiary.
The Tuscarora project, which is located on about 9,800 acres of land in Elko County, Nevada, is expected to become operational in 2012.
Up to 40 megawatts of electricity from the project has already been contracted under a 20-year power purchase agreement with Nevada Power Co., a subsidiary of NV Energy Inc.
“The Tuscarora project has the potential to yield a sizable geothermal project, and will be developed in phases with the first phase being” 16 megawatts, said Ormat CEO Dita Bronicki.”
Details on the Hot Sulphur Springs (Tuscarora Geothermal Area) can be found >>here<< (from 2005)
Source: Company release via Canadian Business
