Ormat Technologies Inc.'s subsidiary, Puna Geothermal Venture ("PGV"), has completed the re-drilling of an existing production well at the Puna Geothermal Project (the "Puna Project") located on the Big Island, Hawaii. The well re-drilling increased net generating capacity of the power plant by approximately 4 MW, bringing total net generating capacity to approximately 29 MW.
The re-drilling is part of an approximately $15 million existing enhancement program at Puna under which two additional wells are expected to be drilled. This plan is intended to increase the available geothermal fluid, and enable the plant to generate approximately 30 MW of sustainable power. Completion of this program is expected by the end of the year.