Nevada Power, Ormat partner on renewable project

LOS ANGELES, March 24 (Reuters) - Utility Nevada Power Company, a unit of Sierra Pacific Resources (SRP.N: Quote, Profile, Research), and renewable energy company Ormat Technologies (ORA.N: Quote, Profile, Research) on Monday said they reached a deal to build a recovered energy generation project near Las Vegas that will be able to power 1,200 homes.

Recovered energy generation (REG) involves capturing unused waste heat from industrial processes and converting it into electricity without any additional fuel consumption.

The six megawatt project will be built at the Kern River Gas Transmission Company's compressor station about 35 miles south of Las Vegas, the companies said in a statement.

Kern River is a unit of MidAmerican Energy Holdings Company, which is a subsidiary of Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research).

The project is scheduled to be completed in 2010 and is subject to regulatory approvals.

Financial details were not disclosed. (Reporting by Nichola Groom)