NV Energy gives COD nod for Ormat's 30-MW geothermal plant
Aug 21, 2012 - The commercial operation date (COD) for the 30-MW McGinness Hills geothermal power plant has been given the go-ahead by utility NV Energy, the plant's owner Ormat Technologies Inc (NYSE:ORA) said on Monday.
After the COD was approved, the plant in Lander County, Nevada, is receiving full power prices from July 1, 2012.
NV Energy is buying renewable power from Ormat under a 20-year power purchase agreement. The McGinness Hill plant commenced full operation on June 15, 2012 but electricity was sold to NV Energy at about half of the full energy price until it approved the COD.
The total portfolio generating capacity of Ormat increased to 586 MW after the McGinness Hills plant kicked off work.