Ormat Technologies Inc. said on Oct. 14 that it has signed a strategic collaboration agreement with Toshiba Corporation to explore opportunities in the area of geothermal power generation systems and related equipment.
The companies said that the agreement will allow them to offer potential customers a more competitive solution for comprehensive supplies and services related to geothermal developments, from resource assessment, field development, and power plant engineering, procurement and construction (EPC) to power plant operation.
Yoshihiro Aburatani, President and CEO of Toshiba’s Power Systems Company said in a statement: “I am pleased that we have signed the SCA and taken the first step forward in our long-term strategy. A collaboration between globally respected Ormat and Toshiba, bringing together Ormat’s capabilities in developing geothermal projects and its reliable binary equipment and our expertise in geothermal power, notably our highly reliable flash type geothermal steam turbines, offers tremendous potential for delivering comprehensive customer satisfaction. We look forward to working with Ormat to implement the first project.”
According to the companies, they will focus initially on the Menengai geothermal project in Kenya. Ormat - Symbion Power LLC - Civicon Ltd Consortium will constructed and operated by the project. The companies said that they have initiated negotiations on the supply agreement, and the plant design is at an advanced stage.
In addition, the companies said that they are actively analyzing global prospects for upcoming and potential projects in which they can jointly submit applications for geothermal power plants utilizing a geothermal solution consisting of Ormat’s binary system and Toshiba’s flash system.
“This milestone collaboration with Toshiba, an innovation leader in the geothermal steam turbine industry, is another significant step in our long-term strategy to expand our presence in the geothermal space and ultimately target the larger renewable energy market,” Ormate CEO Isaac Angel said in a statement. “We view this collaboration as a key to support our strategic expansion in the geothermal industry to diversify our technological base, as well as extend our geographic reach.
Lead image: Hand signing a document. Credit: Shutterstock.