The big American geothermal energy plant developer Ormat Technologies Inc (NYSE: ORA) has now been given approval from the New Zealand Government to buy land on the North Island for a $US167 million ($NZ200 M) power plant.
Ormat was granted consent by the NZ Overseas Investment Office, which assesses bids for “sensitive land.”
Late last year Ormat was awarded the project by a Maori land trusts after a bidding process.
Ormat is a business unit of Yavne, Israel-based Ormat Industries Ltd and one of the biggest foreign developers of geothermal plants in New Zealand, with interests in 12 other projects.
The new plant will be located on 902 hectares near Rotorua.
Early this month NZResources.com reported Ormat had secured a $US20 M contract to supply a geothermal power plant for the Kawerau geothermal field.
Ormat entered into a supply contract with Norske Skog Tasman Ltd of NZ for a power plant to be completed within 13 months from contract date.
Ormat said Norske Skog has an history of over 50 years of utilisation of geothermal energy from the Kawerau field in the Bay of Plenty, east of Rotorua.
The new plant will be located on 902 hectares near Rotorua.
Early this month NZResources.com reported Ormat had secured a $US20 M contract to supply a geothermal power plant for the Kawerau geothermal field.
Ormat entered into a supply contract with Norske Skog Tasman Ltd of NZ for a power plant to be completed within 13 months from contract date.
Ormat said Norske Skog has an history of over 50 years of utilisation of geothermal energy from the Kawerau field in the Bay of Plenty, east of Rotorua.
