Puna Geothermal Venture

Puna Geothermal Venture (PGV) is currently the only geothermal power plant in the state of Hawaii. PGV is comprised of two air-cooled power plants, a combined cycle system and a binary system, with a total generating capacity of 38 MW, which is sold to HELCO under a power purchase agreement. PGV commenced commercial operation in 1993, and was acquired by Ormat (NYSE: “ORA”) in June 2004. The plant has been the focal point of controversy in the Puna community, where residents claim the plant has led to health and quality of life problems.