Ormat has a significant amount of business with Nevada parent company NV Energy, which it supplies with about 105 megawatts. That will rise to approximately 135MW with the completion of McGinness Hills, projected in 2012.
In a statement, Ormat chief executive Dita Bronicki is optimistic about funding opportunities, saying there are “attractive alternatives for financing of new geothermal development”.
She says the company intends to seek federal tax credits and make use of the Energy Department’s Loan Guarantee Program for debt financing.
