Ormat Technologies, Inc. announced that it has signed with Contact Energy of New Zealand (“Contact Energy”) an Engineering, Procurement and Construction (“EPC”) contract for a new maximum continuous performance 59MW geothermal power plant in New Zealand and signed a 6MW supply contract with Sarulla Operations Ltd. (“SOL”) in Indonesia. The combined expected revenue of the two contracts is approximately $100 million USD. Under the agreement with Contact Energy, Ormat will provide its air-cooled Ormat Energy Converters for the Tehuka 3 geothermal project.

This power plant will be built in the vicinity of the Tehuka 1 & 2 plants that are already operating on the Tauhara resource. This is the third EPC contract Ormat has signed with Contact Energy and the 16th geothermal power plant Ormat has built in New Zealand. Under the signed 6MW contract with SOL, Ormat will supply its air-cooled Ormat Energy Converters as part of the remediation work being performed to improve the power plant's performance.