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Ormat Technologies and Montana-Dakota Utilities Co. Announce New Recovered Energy Generation Project
Ormat Technologies and Montana-Dakota Utilities Co. Announce New Recovered Energy Generation Project
RENO, Nev., May 1 /PRNewswire-FirstCall/ -- Ormat Technologies, Inc.
(NYSE: ORA) and Montana-Dakota Utilities Co. announced today that the two
companies entered into an Engineering, Procurement and Construction (EPC)
agreement to build a 5.3 MW recovered energy generation facility to be located
on the Northern Border Pipeline Company's (Northern Border) compressor station
inMorton County, North Dakota. The facility, which is expected to be
completed in the fourth quarter of 2009, will produce electricity without
burning additional fuel.
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The project, subject to regulatory approvals, will increase the
utilization of the energy content by approximately 25 percent and will produce
enough renewable energy to supply about 5,000 residential electric customers
inMontana-Dakota's service territory. Recovered Energy Generation (REG)
facilities consist of ORMAT Energy Converters (OEC) based on Organic Rankine
Cycle technology, which convert recovered heat to electric power without the
need for any additional fuel or water.
"Ormat REG systems respond to two essential objectives in environmental
conservation: energy efficiency and emission reduction," said Dita Bronicki,
Chief Executive Officer of Ormat. "As the 10th Ormat REG facility installation
planned on Northern Border's facilities, this project with Montana-Dakota
Utilities is a testimony to the energy production capabilities of Ormat's
Organic Rankine Cycle technology and highlights our continued progress in this
area."
"We are excited to be a part of this project and to increase our electric
generation capacity with this technology," said Andrea Stomberg, Vice
President of electric supply forMontana-Dakota. "It is important to us to
expand our green energy efforts."
In the normal operation of a compressor station, waste heat is released by
the exhaust of the gas turbine driving the compressor used to compress the
gas. This thermal energy can be captured and converted to electricity by the
installation of an Ormat Energy Converter similar to those used in geothermal
electricity generation. The project will use a heat exchanger to capture the
heat from the existing gas turbine and the recovered heat is used in the OEC
to produce the electrical output.
About Ormat Technologies
Ormat Technologies, Inc., is the only vertically-integrated company
primarily engaged in the geothermal and recovered energy power business. The
company designs, develops, owns and operates geothermal and recovered energy-
based power plants around the world. Additionally, the company designs,
manufactures and sells geothermal and recovered energy power units and other
power-generating equipment, and provides related services. The company has
more than four decades of experience in the development of environmentally-
sound power, primarily in geothermal and recovered-energy generation. Ormat
products and systems are covered by more than 75 patents. Ormat currently
operates the following geothermal and recovered energy-based power plants: in
the United States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and
OREG 1; inGuatemala - Zunil and Amatitlan; inKenya - Olkaria; and in
Nicaragua - Momotombo.
About Montana-Dakota Utilities Co.
Montana-Dakota Utilities Co. distributes natural gas and generates,
transmits and distributes electricity and provides related services in the
northern Great Plains. Montana-Dakota is a division of MDU Resources Group,
Inc., a multidimensional natural resources enterprise traded on the New York
Stock Exchange as "MDU." For more information aboutMontana-Dakota, visit the
company's Web site at http://www.mdu.com.
Media Contacts:
Celeste Eisenberg Mark Hanson
Ormat Technologies MDU Resources Group
775-815-9625 701-530-1093
ceisenberg@ormat.com mark.hanson@mduresources.com
Investor Contacts:
Todd Fromer/ Marybeth Csaby Phyllis A. Rittenbach
KCSA Strategic Communications MDU Resources Group, Inc.
212-896-1215 / 212-896-1236 701-530-1057
tfromer@kcsa.com / mcsaby@kcsa.com
Safe Harbor Statement
Information provided in this press release may contain statements relating
to current expectations, estimates, forecasts and projections about future
events that are "forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
generally relate to Ormat's plans, objectives and expectations for future
operations and are based upon its management's current estimates and
projections of future results or trends. Actual future results may differ
materially from those projected as a result of certain risks and
uncertainties. For a discussion of such risks and uncertainties, see "Risk
Factors" as described in Ormat Technologies, Inc.'s Annual Report on Form 10-K
filed with the Securities and Exchange Commission on March 5, 2008.
These forward-looking statements are made only as of the date hereof, and we
undertake no obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise.
SOURCE Ormat Technologies, Inc.; Montana-Dakota Utilities Co.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: Tags: Oil, Gas and Energy, Utilities, Environment, Banking and Finance, , nevada, montana, north dakota
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