The Puna Geothermal Venture on Hawaii island finished drilling a new well this month as it looks to increase its energy production.

Mike Kaleikini, senior director of Hawaiian affairs for Ormat Technologies Inc., the parent company of PGV, announced Monday that after three months of drilling, the company finished the 5,700-foot-deep well along Kilauea’s East Rift Zone.

Once connected in August, the well will make the sixth production well that the plant can pull heated geothermal fluid from to produce steam that will be used to create electricity. The cooled fluid is then recycled in one of PGV’s five injection wells.

The plan to drill the new well was to remedy a decline in production, Kaleikini said. PGV noticed the decrease in production in the fourth quarter of 2014, he said.

While the plant has been producing 26 megawatts of power, PGV is contracted by Hawaii Electric Light Co. to provide 38 mega­watts.

PGV began operation in 1993 and is the only geo­thermal plant in the state. It is one of the largest power generators on Hawaii island, accounting for roughly 24 percent of the island’s electric generation in 2013.

"Geothermal currently provides over 20 percent of the energy on Hawaii island," said Darren Pai, spokesman for Hawaiian Electric Co., parent company of HELCO. "Additional geothermal energy has a role in the future renewable energy mix on Hawaii island and is included in our Power Supply Improvement Plans to increase renewable energy, maintain reliable service to our customers, and lower customer bills. We believe that dispatchable baseload geothermal plants can provide critical grid operations for integrating higher levels of variable renewable generation on the island."

Ormat and HECO are currently negotiating a contract for an additional 25 megawatts of geothermal power. HECO said it expects to file a contract with the state Public Utilities Commission by the end of 2015.