Jul.30, 2012 | 5:40 AM–Thermal energy firm Ormat Technologies began full operation of its new McGinness Hills geothermal power plant in the U.S. state of Nevada on Thursday. The plant has a capacity of 30 megawatts, boosting the capacity of Ormat’s facilities to 586 megawatts.
Capital market sources say the new plant will boost Ormat’s revenues by $21 million a year. The firm’s cost of electricity generation at the facility is about $80 per megawatt, 1% above the company’s average in the first quarter. Ormat will sell the electricity generated at McGinness Hills to NV Energy, a Las Vegas-based utility, under a 20-year contract…Read More>>