0.82%SPY 122.82 0.98%XLF 20.80 0.86%
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RENO, Nevada - Ormat Technologies Inc., which runs geothermal and recovered-energy-based power plants, said Wednesday a Minnesota cooperative agreed to a 20-year electricity purchase agreement with one of Ormat's units.
| ORA | 45.96 |  -0.63 |
Terms of the deal were not disclosed.
Great River Energy, a Minnesota cooperative corporation of Elk River, Minn., agreed to buy electricity that will be produced by a new Ormat recovered-energy generation facility.
The facility, which will be commissioned in 2009 or early 2010, will produce electricity from waste heat off the exhaust of an existing Minnesota gas turbine on the Northern Border natural-gas pipeline.
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