| Abstract |
In 1974, the US Department of Energy created a program to guarantee geothermal loans with the objective of overcoming the financing risk barriers to the development and operation of projects utilizing the then new geothermal technologies. In 1977, Republic Geothermal Inc. explored and defined the East Mesa Geothermal Field. After acquiring the development rights from Republic in 1984, ORMAT went on to successfully complete the development of the 30-MW Ormesa I Project. This proved to be the most notable success of this program since ORMAT repaid the $50 million guaranteed loan in full; approximately one year after this loan was funded. With its December 1986 grid synchronization and subsequent continued successful operation, the Ormesa I project established the technical feasibility of larger scale commercial modular binary power plants and liquid-dominated geothermal resources. From 1986 onward, the East Mesa projects were expanded by: (a) the 20-MW Ormesa II project, 1998; (b) the 10-MW Ormesa IE project, 1988 and (c) the 12-MW Ormesa IH project, 1989. After twelve years, with the most recent two under the capable operation of FPL Energy, Inc., the four Ormesa power plants are operating at their original contractual capacity levels, demonstrating the reliability and sustainability of geothermal power generation. |