Ormat has completed the engineering and design, and has started procurement of certain plant components under limited notices to proceed which have been in place since February 2008.
Site work will commence immediately. Under the engineering, procurement and construction contract, Ormat guarantees to achieve substantial completion no later than December 31, 2009.
Blue Mountain is located 30km west of the town of Winnemucca, Nevada. The electric power generated by Faulkner-1 will be sold to the Nevada Power Company under a 20-year power purchase agreement.
Dita Bronicki, CEO of Ormat Technologies, said: We are happy that NGP was able to finalize and secure the financing of this project that enables the issuance of the full notice to proceed to Ormat and are looking forward for a successful completion of the project as scheduled.
