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Ormat urges plant-by-plant royalty reform, cites McGinnis Hills example
Summary
Ormat Technologies told the subcommittee that HR 5638 would restore facility-specific royalty treatment intended under prior law, lower barriers to expansion on existing leases, and spur investment; the company cited McGinnis Hills as an example of where current practice created unintended royalty increases.
PAUL THOMPSON, vice president of business development at Ormat Technologies, told the subcommittee that two bills his company supports would help geothermal development: the Geothermal Energy Opportunity Act (HR 301) and the Geothermal Royalty Reform Act (HR 5638). Thompson said HR 5638 would restore a facility-by-facility royalty framework that he described as the…
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