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Ormat subsidiary signs deal with Sierra Pacific.
(From Israel Business Arena)
Byline: Globes correspondent
Ormat Industries (TASE:ORMT) announced to the TASE today that Sierra Pacific Power Company has signed an agreement with ORNI 7, an indirect subsidiary of Ormat Nevada, Inc., for ORNI 7 to supply 20 megawatts of renewable power to Sierra Pacific.
The power will be generated by geothermal energy from ORNI 7's Galena Geothermal 1 plant at Steamboat, south of Reno, Nevada.
The contract is for a 20-year period, as of the date that commercial operations commence. ORNI 7 is expected to begin supplying the energy to Sierra Pacific by 2006.
Ormat said it expects an estimated $5 …
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