Ormat Technologies Inc. Signs Power Purchase Agreement With Puget Sound Energy for Supply of Power From Recovered Energy Generation System

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Ormat Technologies (ORA) has entered into a 20-year power purchase agreement with Puget Sound Energy Inc. for the supply of power from a Recovered Energy Generation System (REGS), which will be located adjacent to the Sumas Compressor Station of Northwest Pipeline Inc. (NWP) in Sumas, Washington State. The REGS will be owned by Orsumas and will use recovered waste heat from three NWP existing gas turbines driving compressors at the station, as well as interconnect to Puget Sound Energy’s transmission grid. The facility will employ an ORMAT ® Energy Converter (OEC) and will have a design capacity of 4.95 MW net. [ more ] This deal is expected to generate annual revenues of approx $2.3 mln with a 1% annual escalation.

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