Ormat Technologies, Inc. (ORA) recently announced that it has agreed to sign an Engineering, Procurement and Construction (EPC) contract with Contact Energy, involving geothermal energy. This contract, valued at $200 million, entails the development of the 101-megawatt (MW) Te Mihi Stage 2 geothermal power plant in New Zealand. Te Mihi Stage 2 will gradually replace the outdated Wairakei geothermal station and is slated to be completed by mid-2027.ORA’s Position in Geothermal GenerationWith the effects of c ...