US DoE offers loan guarantee for geothermal project

27 September 2011 (Last Updated September 27th, 2011 18:30)

The US Department of Energy (DoE) has approved a partial loan guarantee of $350m for the development of a 113MW geothermal project in the State of Nevada.

The US Department of Energy (DoE) has approved a partial loan guarantee of $350m for the development of a 113MW geothermal project in the State of Nevada.

The project comprises three geothermal facilities, the 22.5MW Jersey Valley geothermal project, the 51MW McGinnis Hills geothermal project and the 18MW Tuscarora geothermal power plant.

The facilities are equipped with Ormat Nevada's energy converter modules, which include an integrated vaporiser, pre-heater, turbine-generator set, condenser and feed pump.

The project is expected to generate enough electricity to power about 80,000 homes and avoid over 580,000t of carbon dioxide emissions annually.

State utility Nevada Power Company will purchase the project's total output under three separate long-term power purchase agreements.