Nevada Geothermal, Ormat reach settlement concerning Faulkner 1

Source: Nevada Geothermal Power Inc.

Nevada Geothermal Power Inc. (NGP) (TSX.V: NGP, OTCBB: NGLPF) is pleased to report that NGP Blue Mountain I LLC, the owner of the 49.5 MW Faulkner 1 geothermal power plant and Ormat Nevada Inc. have settled all disputes that have arisen under the EPC contract as a result of the facility shutdown between January 16 and February 23, 2010 due to a short circuit caused by faulty layout of underground cables. 

We believe the settlement, which consists of cash, power plant spares and extended warranties, is responsive to NGP’s requests. NGP is pleased with the performance of the plant since its restart in February and we are looking forward to a good and continuing relationship with Ormat,” said Brian Fairbank, President & CEO. 

“We are happy with the settlement,” said Dita Bronicki CEO of Ormat. “This demonstrates Ormat’s commitment to its EPC customers. We wish NGP success in the continued development of geothermal power plants.”

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs