business

Ormat and Toshiba Strike Geothermal Energy Collaboration Deal

Ormat Technologies Inc., a U.S. geothermal energy company, agreed to collaborate with Japan’s Toshiba Corp. to provide power generation systems and services.

The deal means the companies can offer both Toshiba’s flash equipment and Ormat’s binary systems, the two main types of geothermal power plants, the companies said in a statement Wednesday. The first project where this will come into play is the 35-megawatt Menengai geothermal plant in Kenya that’s majority owned by Reno, Nevada-based Ormat.

The companies are negotiating a supply agreement for Menengai, which has a 25-year power purchase agreement with Kenya Power and Lighting Co. Ormat is developing the project with Symbion Power LLC and Civicon Ltd.

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