Ormat eyes energy storage technology with geothermal plants
Ormat energy reports strategic work on energy storage being added to its geothermal plants, an expected earlier start of its Olkaria extension and progress on its Sarulla project in Indonesia.
In a recent webcast following the announcement of its third quarter results, Ormat Technologies provided some more details on its activities and plans, as reported by PennEnergy.
One interesting thing mentioned is that Ormat is looking at merger and acquisition opportunities that would enhance its geothermal power plants with energy storage possibilities, according to CEO Isaac Angel.
“On the storage solutions side, we are progressing well,” Angle said during a 3Q15 earnings webcast. “I’m very optimistic that we will be able to add a lot of MW … and profitability to our existing power plants.” He showed some optimism in securing a deal soon that would help initiate the company’s energy storage strategy.
Another option, Ormat is looking into is adding solar energy to its plant, as some kind of “blended solution”.
In the same webcast, Ormat said it expects to complete the 24 MW expansion of its Olkaria III geothermal power plant earlier than expected, due to some construction lead time improvements. The company expects the project to now be completed in the first quarter of 2016 and not in the second half of 2016 as initially planned.
Mr. Angel also reported that the 14 MW portion of the 330 MW Sarulla geothermal project in Sarulla, Indonesia, has been “substantially completed”.
“The drilling of production and injection wells are also in progress for the project, however, the project company is experiencing delays in drilling,” he said, adding that Ormat expects the first phase of operation to begin by the end of next year. The remaining phases of operation are scheduled to begin in 2018.”