Ormat Applied sciences has been awarded the EPC contract for the 101-MW Te Mihi 2 geothermal energy plant of Contact Vitality in New Zealand.
Ormat Applied sciences (Ormat) has been awarded the Engineering, Procurement, and Development (EPC) contract valued at roughly $200 million by Contact Vitality for the event of the 101-MW Te Mihi 2 geothermal energy plant in New Zealand. The facility plant is predicted to be accomplished by mid-2027.
Development of the Te Mihi 2 geothermal energy plant is a part of Contact Vitality’s GeoFuture initiative, which seeks to ultimately retire the ageing Wairakei energy station. Topic to last funding choice, Contact Vitality can also be planning a second section of growth, Te Mihi Stage 3, which is predicted to return on-line by mid-2031.
This vital settlement marks Ormat’s fourth giant venture in New Zealand at present beneath growth and is predicted to exchange, in levels, the 1950’s-built Wairakei geothermal energy station. It additionally highlights Ormat’s benefits in growing binary expertise, which is additionally appropriate for top enthalpy geothermal reservoirs.
Doron Blachar, Chief Government Officer of Ormat Applied sciences, commented: “We’re thrilled to associate with Contact Vitality on this landmark geothermal venture. The Te Mihi Stage 2 venture is a testomony to Ormat’s dedication to delivering cutting-edge geothermal options that drive the transition to scrub vitality. We anticipate that our year-end Product Phase backlog, as soon as the contract is signed, will exceed $300 million and we are going to acknowledge the majority of the revenues related to this contract throughout 2026 and 2027.”
“The 101MW Te Mihi Stage 2 plant, together with the extra 160MW we’re at present constructing in New Zealand, strengthens our place as market chief whereas additionally increasing New Zealand’s renewable vitality capability to assist the nation’s formidable objective of attaining zero emissions. Our superior binary expertise will allow Contact Vitality to function with zero emissions, contributing to a sustainable future.”
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Supply: Ormat Applied sciences
