Today, Nevada Geothermal Power Inc. announced that the Blue Mountain ‘Faulkner 1’ 49.5 MW geothermal project under an Engineering Procurement Construction contract with Ormat Nevada Inc., a subsidiary of Ormat Technologies Inc. (NYSE:ORA), is ahead of schedule. Ormat believes it will be ready to start power plant commissioning during August 2009.
According to the press release, Nevada Geothermal Power will have the essential elements in position to begin production testing in August. The company plans to be fully operational by early October of this year. The Blue Mountain ‘Faulkner 1’ geothermal power plant will be producing electricity and generating revenue up to three months ahead of schedule.
“We are extremely pleased with the pace and quality of the plant construction work being done by Ormat. Timely completion will allow NGP to benefit from early revenue generation and substantial interest cost savings. Most importantly, commercial operations will launch NGP into becoming a profitable geothermal energy company focused on growth,” commented Brian Fairbank, President & CEO, Nevada Geothermal Power Inc.
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