 |
| Don A. Campbell geothermal power plant |
Ormat Technologies, Inc. received the incentive for its Don A. Campbell geothermal power plant in Nevada, after undergoing a rigorous screening process that included meeting State and local statutes requiring the project provide employment for Nevadans, major capital investment in the State; and providing a living wage with comprehensive health benefits.
The tax incentive amount granted to Ormat is $12.6 million over 20 years. The total amount Nevada is projected to gain from the power plant during that time is $102 million, which includes employee wages, a capital investment worth $84 million dollars, and $8 million combined from property taxes and school support taxes. This represents an 8-to-1 return on Nevada’s investment, far exceeding the loss of revenue from the tax incentive.
Once completed, the power plant will be capable of generating 20 MWe, which will be sold to Southern California Public Power Authority under a 20 year contract. It will utilize 13,800 acres of public land in Mineral County, and will include photovoltaic panels and related right-of-way features including a substation and switchyard facilities.
Read More.....
