Ormat Technologies Inc. has signed a US$98.8 million engineering, procurement and construction contract for a geothermal project in Chile.
The contract was signed by Ormat subsidiary Orandina I S.p.A. to provide two air-cooled energy converters for a high enthalpy reservoir. The project is scheduled to be completed by mid-2017.
“This latest order is a powerful validation of our binary technology and supports our growing product segment backlog,” said Isaac Angel, CEO of Ormat Technologies. “This project award is the latest confirmation that geothermal world leaders recognize that Ormat’s technology is also suited for high enthalpy.
“This solution delivers economic value, a positive environmental impact and mitigates deployment risk adopting its modular methodology, as recently confirmed in New Zealand and East Africa as well. This contract significantly increased our products backlog and will support future revenues for this segment.”