The project, sponsored by a unit of Ormat Technologies, includes three geothermal power facilities with a total capacity of about 121MW.
The electricity generated by these Nevada-based facilities – McGinness Hills, Jersey Valley and Tuscarora – will be purchased by Nevada Power under 20-year power purchase agreements.
Ormat Technologies CEO Dita Bronicki said that the DOE 1705 program provides the company with financing terms that enables it to finance a portfolio of facilities that are being developed in two phases.
Ormat Technologies is primarily engaged in the geothermal and recovered energy power business.
