NGP and Ormat Sign EPC Contract for Blue Mountain Geothermal Project
Posted on: Thursday, 3 April 2008, 09:01 CDT
Nevada Geothermal Power and Ormat Technologies have announced that NGP Blue Mountain-I has entered into an engineering, procurement and construction contract for a 49.5MW power plant, consisting of three Ormat energy converters at Blue Mountain's geothermal project in Nevada.
Ormat said that the plant design incorporates its proprietary power generation technology with water-cooling for maximum efficiency.
The total engineering, procurement and construction (EPC) contract value is $76 million, of which $20 million was previously released under a limited notice to proceed, in order to secure the guaranteed substantial completion date of December 31, 2009.
The full release under the EPC contract is subject to finalizing the financing for the project and is expected to occur by April 30, 2008. The EPC provides for an additional partial release of funds if necessary.
The EPC consists of three Ormat energy converter units which can produce 16.5MW each. The output of the power plant at Blue Mountain will meet the Phase-I power delivery requirements of the existing 20-year power purchase agreement between Nevada Geothermal Power (NGP) and Nevada Power with a reserve of excess power.
NGP is currently in discussions with Nevada Power for a Phase-II power contract covering the reserve power.
Source: Datamonitor
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