(Yicai Global) March 6 -- Two overseas geothermal power plants, invested in by China's Zhejiang Kaishan Compressor Co., provider of air compressors, have been successively connected to the grid and are able to generate power, the company said, representing a new phase in its global expansion and project model.
The company recently received on-site reports on the progress of both projects, namely, the Wabuska geothermal power plant in Nevada, the U.S., and the Turawell geothermal power station in Hungary. Both projects have started operations and generate power in good condition, said the Quzhou-based manufacturer in a statement today.
Both units in Wabuska geothermal power station project have been operating steadily for nearly two weeks, generating a total of 4.4 MW power, it added. Following a three-month trial period, the power generation capacity can be increased by about 20 percent.
The first Hungarian geothermal power plant invested and controlled by Zhejiang Kaishan, which is operational since late last November, is able to generate 2.2MW power, reaching 86 percent of the target capacity, the statement added.
All operational indicators of the plants meet the design requirements, indicating that the company has made achievement in transition to being a global geothermal energy operator and geothermal power plant equipment provider, it said.
Compared with the traditional centralized geothermal power generation model, the geothermal power generation technology developed by the Chinese firm has the advantages of significantly reducing the project investment intensity, shortening the construction and operation period, reducing the waste well rate and cutting the waste of geothermal resources, it suggested.
The company expects that this new technology will bring a new development model to the global geothermal industry and help the firm to have a pivotal position within it, the statement added.