Ormat buys land for 45MW New Zealand geothermal plant

Ormat's existing 110MW Mokai geothermal complex in New Zealand

New Zealand’s government has approved Ormat Technologies’ NZ$200m ($167m) acquisition of land for a proposed geothermal power plant in the country’s North Island.

The 45MW project would add to a raft of geothermal projects worth hundreds of millions of dollars in the central North Island that are recently completed or planned by domestic developers such as Contact Energy and state-owned Mighty River Power.

US-based Ormat was awarded the project last year by a consortium of New Zealand Maori land trusts after a bidding process.

Initially the New York-listed company will undertake all exploration and development activities on the 902 hectare site in the Tikitere (Hell’s Gate) geothermal field near Rotorua.

If the project is found to be…

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