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RENO, Nev., - Ormat Technologies Inc., which designs, builds and runs geothermal plants, said Friday it received a $16 million contract to deliver a geothermal power plant in Turkey.
| ORA | 44.86 |  -1.1 |
Ormat said one of its subsidiaries will deliver the equipment to Menderes Geothermal Elektrik Uretim AS within 16 months from the contract date.
The new plant will use air-cooled condensers and allow 100 percent geothermal fluid reinjection, which serves both to sustain the reservoir and to produce electrical power with virtually no environmental impact, Ormat said.
Geothermal power plants use naturally produced steam to generate electricity.
Ormat shares fell 48 cents to $50.37 in morning trading.
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