Thursday, February 11, 2016

USA, Hawaii: Ormat Withdraws from 25 MW Geothermal Energy Contract

Nevada firm nixes geothermal contract with Hawaii Electric Light Co. (Pacific Business News)

Ormat Technologies, which was awarded a contract by Hawaii Electric Light Co. to develop a 25 MW geothermal energy project on Hawaii’s Big Island, has withdrawn from contract negotiations with the utility, HELCO said Wednesday.

HELCO selected Ormat on Feb. 24, 2015, based on the Nevada firm’s ability to meet price levels and performance standards, and started contract negotiations.

Ormat already operates the 38 MW Puna Geothermal Venture plant on the Big Island.

Alan Oshima, president and CEO of Hawaiian Electric Co., previously told PBN that in its new energy plan, HECO wants to develop a geothermal project on the Big Island’s west side, where most of the growth is happening.

The subsidiary of Hawaiian Electric Co. said that it will continue its efforts to include geothermal in its analysis of potential future resource options as part of its new energy plans.

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