Ormat Technologies Inc. said it brought its 15 MW Jersey Valley geothermal power plant online in 2010, one of the only utility-scale geothermal plants completed in the U.S. this past year. The plant will provide energy to northern Nevada’s electricity grid. The plant is currently in commissioning, operating at partial load with final completion expected in the second quarter 0f 2011.
The plant includes the Ormat Energy Converter, a power generation unit that converts low-, medium- and high-temperature heat into electrical energy. The electricity being produced is sold to NV Energy under a 20-year power purchase agreement.
The company built the project with equity and corporate debt and plans to refinance it upon completion with Department of Energy loan guarantee funds. Ormat said this funding strategy shortened the development time and provided flexibility during construction.
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