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Geothermal plants sold

NNBW Staff

Two geothermal plants just south of Reno have been sold for about $1 million.

U.S.

Energy Systems Inc.

of White Plains, N.Y., said it sold the plants in the Steamboat area to a subsidiary of Ormat Nevada, part of a group of companies that specialize in generation of energy from alternative sources.

The price, U.S.

Energy said in a release, was approximately $1 million in cash.

U.S.

Energy said late last year it was looking for a buyer for the two geothermal plants one built in 1986, the other in 1988.

The plants produce seven megawatts of power as hot water from below the ground is used to heat gas that drives the power-generation turbines.

The water then is returned to the ground.

The power is sold to Sierra Pacific Power Co., which pays a price equal to an average of wholesale power prices in the Western United States.

In its last fiscal year, U.S.

Energy said revenues from the geothermal plants totaled $7 million.


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