Orka
has
175
megawatts
of
geothermal
power
capacity
and
generates
150MW
of
thermal
energy
for
district
heating.
Expansions
are
planned
that
will
increase
Orka's
geothermal
power
production
to
425
MW
by
2015.
Magma,
based
in
Vancouver,
has
been
in
negotiations
with
Reykjavik
Energy
(RE)
on
behalf
of
itself
and
two
other
Orka
shareholders
to
purchase
10.78%
of
the
Icelandic
company
with
an
option
to
acquire
an
additional
5%
for
$40m.
RE
and
the
other
Orka
shareholders
say
Magma
was
selected
as
the
“preferred
bidder”
to
acquire
up
to
a
further
32.32%
of
Orka…
