Ormat Technologies gets EPC contract for 15 MW geothermal project
(ADPnews) - Oct 20, 2010 - US geothermal company Raser Technologies, Inc. (NYSE:RZ) today said that it picked fellow company Ormat Technologies Inc (NYSE:ORA) to provide the engineering, procurement and construction (EPC) for its 15 MW Lightning Dock geothermal project.
Lightning Dock Geothermal No. 1, HI-01, LLC, in which Raser holds a 49% stake, signed a term sheet with Ormat Nevada, Inc., a subsidiary of Ormat Technologies. Besides EPC services, Ormat Nevada will also supply the equipment for the power plant.
Earlier in October this year, Raser sold 51% of its Lightning Dock Geothermal unit to Evergreen-FE Lighting Dock LLC in order to fund the development of the 15 MW project in New Mexico, USA.