Ormat In Costa Rican Geothermal Deal  

Cleantech.com reports that Ormat has signed up to build another geothermal power station in Central America - Costa Rica taps Ormat for $65M geothermal deal

Reno, Nev.-based Ormat Technologies (NYSE: ORA) is preparing to start its second geothermal project in Costa Rica after being chosen for a $65 million contract with Banco Centroamericano de Integración Económica.

Ormat plans to build, test and commission the Las Pailas Geothermal Plant, which is planned for construction in Las Pailas Field, Costa Rica, for the country's national electricity and telecommunications company, Instituto Costarricense de Electricidad (ICE).

Under the agreement, Ormat is expected to complete the plant in 18 months. The capacity of the geothermal facility was not disclosed. Ormat says the new plant will use water-cooled condensers and its proprietary high-performance, high-efficiency organic turbine.

Ormat previously built an 18-megawatt binary geothermal power station for ICE in 2004. Ormat has developed four other geothermal projects in Central America since 1999. The projects are expected to totaling 150 MW when the Pailas plant is commissioned.