Ormat Technologies selected for $62 million EPC contract
Ormat Technologies reports that its subsidiary Ormat Nevada has been selected for a $62 million EPC contract in a competitive bid process for a geothermal project in North America.
In a release, Ormat Technologies, announced that Ormat Nevada Inc., its wholly owned subsidiary, was selected to supply a $61.2 million engineering, procurement and construction (EPC) contract through a competitive bid process. [There is no concrete project named nor a location, but it is assumed that it is a project in Nevada]
Under the expected EPC contract, which is currently under negotiation, Ormat will provide two air-cooled Ormat Energy Converters for a geothermal power plant project in North America.
The project is expected to be completed by the end of 2013. Until the signature of the full EPC contract the parties have entered into an interim agreement in the amount of approximately $9 million for a limited scope of work to ensure timely completion of the project.
Yoram Bronicki, president and COO of Ormat said, “We are pleased to increase our backlog by this project which will continue the strong product segment performance. This development will incorporate Ormat’s low-operating-cost design and our consistent project completion standards.”
Source: Company release via Marketwatch