Ormat Technologies, the global leading geothermal company, announced this Wednesday it has expanded its footprint in Latin America; the company has secured a contract to supply to deliver products to Polaris Infrastructure.
Firstly, the products that the company will deliver are its patented Energy Converters; those will go to the San Jacinto geothermal facility in Telica, Leon, Republic of Nicaragua. The company anticipates an 11-month design, manufacture; and also, delivery of the units.
Secondly, the agreement further expands the company’s powers on Latin America; where it also operates in Guatemala, and Honduras. In fact, the company has a total operating portfolio of 1,1 gigawatt; which includes a 1,015 MW of geothermal and Solar portfolio that is spread globally in the U.S., Kenya; and the above-mentioned countries. Only in the U.S. the company has a 83MW energy storage portfolio.
Thirdly, the agreement also strengthens the company’s growth plans; and its missions to accelerate the long-term adoption of green energy technologies.
Moreover, the company owns, operates, designs; also, manufactures and sells geothermal and REG power plants; primarily based on its patented technology: Ormat Energy Converter; which is a power generation unit that converts low, medium and high-temperature heat into electricity.
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In fact, the company has engineered, manufactured and also constructed power plants; which it currently owns or has installed for utilities and developers worldwide; totaling approximately 3,200 MW of gross capacity.
On the other hand, about the relevance of the agreement, Doron Blachar, CEO of Ormat Technologies, said. “This contract expands our backlog and provides further evidence of the increase in the demand for our products; after the slowdown we have experienced over the last year, mainly related to COVID.”
He also remarked. “Demand for clean, renewable energy continues; and Geothermal remains attractive as a baseload option. As a recognized leader in geothermal, we also expect to recognize increased interest from partners and operators around the world.”
Finally, Marc Murnaghan, Polaris’ CEO commented. “Adding this Binary Unit will help us expand the capacity of the resource; also, take full advantage of the potential energy from the resource. This will enable us to meet the demand of the extended PPA, providing clean, renewable; and also affordable electricity to the citizens of Nicaragua.”
