Geothermal power plant's second phase begins commercial operations

McGinness Hills geothermal power plant second phase Nevada begins commercial operations Projects of the Year winner first phase Ormat Technologies

Ormat Technologies Inc. (NYSE: ORA) started commercial operations at the second phase of a geothermal energy plant in Nevada.

The second phase of the McGinness Hills geothermal power plant broke ground in March 2014. It has been selling electricity under an amended power purchase agreement to NV Energy since Feb. 1 at an energy rate of $85.58/MWh with a 1 percent escalator through December 2032.

The first phase of the project was completed in June 2012 and was the winner of POWER-GEN International’s Best Geothermal Project of the Year 2013.

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