Ormat expects restart of Puna geothermal plant in Hawaii by end of 2019
Ormat Technologies expects to restart the Puna Geothermal Power Plant on the Big Island of Hawaii by year-end of 2019. The company reports higher temperatures at the reservoir and no sign of negative impact on pressure.
Reporting on its financial results for 2018, Ormat indicated that it expects a restart of its currently shut down Puna Geothermal Power Plant by the end of 2019.
In its release on the results, Ormat Technologies CEO Isaac Angel reported, that “… work is underway to resume operation of the plant. We have constructed a new access road to the power plant, drilled a new fresh water well and started to open a production well. Initial tests from the geothermal injection wells indicate higher temperatures at the reservoir with no sign of any negative impact on pressure. In light of that, we currently estimate that we will be ready for operation by year end 2019.”
There are ongoing discussions on insurance issues to cover the damages to Ormat due to the 2018 volcanic eruption that has come close to the Puna plant and actually covered parts of the plant’s property. “On the property insurance coverage, all the insurers accepted and started paying for the costs to rebuild the destroyed substation and other damaged property. However only some of the insurers accepted that the business interruption coverage started in May 2018. We are still in discussions to reach an understanding with all of our insurers to start paying for the business interruption as of May 2018.”, so Mr. Angel.