The DOE on Friday finalized a partial guarantee for up to a $350 million loan guarantee to support a geothermal power project sponsored by Ormat Nevada. The 113-MW project comprises three geothermal power facilities and could increase Nevada’s geothermal power production by nearly 25% the DOE said.
The facilities are Jersey Valley in Pershing County, McGinness Hills in Lander County and Tuscarora in Elko County. They include the utility-scale deployment of Ormat Energy Converter (OEC) modules, which typically consist of pre-engineered units that include an integrated vaporizer, preheater, turbine-generator set, condenser and feed pump, all of which work together to convert the geothermal energy to electric power.
The project’s total output will be sold to Nevada Power Co. under three separate long-term power purchase agreements. Lender-applicant, John Hancock Life Insurance Company (USA) submitted the application under the Financial Institution Partnership Program (FIPP).
Sources: POWERnews, DOE