Geothermal energy project to use Ormat converters

Ormat Technologies Inc. (NYSE: ORA) said it’s subsidiary, Ormat Nevada Inc., was selected by an unnamed company to supply a $61.2 million engineering, procurement and construction (EPC) contract.

As part of the contract, Ormat will provide two air-cooled Ormat Energy Converters for an unnamed geothermal power plant in North America. The project is expected to be completed by 2013.

Until the full EPC contract is signed, the parties have entered into an interim agreement for $9 million for a limited scope of work to ensure timely completion of the project.

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