The company will pay NV Energy a termination fee of about $1.7m and will continue work on the project in Nevada’s Churchill County.
NV Energy and Ormat Technologies signed the PPA in August 2006, but permitting delays have prevented substantial progress on the project site and on transmission until late 2011.
Ormat Technologies designs, develops, owns and operates geothermal and recovered energy-based power plants across the globe.
