* Says its unit will buy whole of HSS II * Says deal
includes geothermal project
Feb 9 Ormat Technologies Inc (ORA.N) said its
unit Ormat Nevada Inc agreed to acquire whole of HSS II LLC,
and said it plans to construct and operate a geothermal plant
on the site which is expected to become operational in 2012.
The geothermal power plant operator said the deal includes the
Hot Sulphur Springs Geothermal Project in the northern
Independence Valley of northeast Nevada.
Under the project, Nevada Power will purchase up to about 40
megawatts (MW) of electricity from the project, which will be
developed in stages.
The company expects to close the acquisition by the first
quarter of 2010.
Shares of the Reno, Nevada-based company closed at $34.23
Tuesday on the New York Stock Exchange.
(Reporting by Thyagaraju Adinarayan in Bangalore ; Editing by