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Geothermal company Ormat Technologies Inc. has agreed to sell 63.7 MW of electricity from its McGinness Hills geothermal power plant, located in Lander County, Nev., to Las Vegas-based utility NV Energy.

The agreement is an amendment to the existing McGinness Hills power purchase agreement (PPA), Ormat says. The company notes that the power plant will be undergoing a 30 MW expansion.

Under the amendment, Ormat reports that a new energy rate of $85.58/MWh with a 1% annual escalator will be set for the entire complex once Phase II enters commercial operation.

"Phase I of our McGinness Hills geothermal power plant has been in commercial operation since June 2012, and the strength of the reservoir allowed the power plant to consistently produce more energy than what was contracted in the original PPA," says Yoram Bronicki, president and chief operating officer at Ormat. "We are eager to continue development at the site, which we hope to complete in mid-2015."

The amendment is subject to approval by the Public Utilities Commission of Nevada.

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