Geothermal power plant. Featured Image: cate_89/Shutterstock.com
Ormat Technologies Inc (NYSE:ORA) and Toshiba Corp (TYO:6502) have signed a strategic collaboration agreement that will bring together the companies' expertise in different geothermal technologies.
The US geothermal company and the Japanese conglomerate said the deal would allow them to capture a larger share of the geothermal market. The two will explore opportunities to provide a more competitive offering for comprehensive geothermal development, from resource assessment to construction and operation, according to the announcement.
The first project expected to be implemented under the partnership is the 35-MW Menengai geothermal project in Kenya, which will be built and operated by a consortium majority owned by Ormat.
Geothermal power plants generally use either a binary system or a conventional flash system, while for some projects a combined cycle with both systems can be applied, the companies explained. The partners are actively analysing potential projects, where they can submit applications for geothermal power plants using both Ormat's binary system and Toshiba's flash system.