geothermal energy plant News
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GRC 2012 Annual Meeting Theme Promotes Geothermal as Energy Solution
The Geothermal Resources Council Annual Meeting is promoting geothermal power as an ideal energy source with the theme of “Geothermal: Reliable, Renewable, Global”. The world’s largest annual geothermal event is taking place September 30-October 3, 2012, in Reno, Nevada, at the Peppermill Resort Spa. Geothermal power is ready to help meet our planet’s energy needs now ...
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Ormat Technologies Inc. Announces $175 Million Agreement with Northleaf Capital Partners for a 40% Equity Investment in Certain Power Plants at a Valuation of $438 Million
Ormat Technologies, Inc. (NYSE: ORA) (the “Company”), today announced that its wholly-owned subsidiary Ormat Nevada Inc. (“Ormat”) has entered into a binding agreement with infrastructure funds managed by Northleaf Capital Partners (“Northleaf“) under which Ormat will contribute certain geothermal and recovered energy generation power plants into a newly ...
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U.S. Congresswoman Schakowsky holds renewable energy and jobs mini-summit with Indie Energy
U.S. Congresswoman Jan Schakowsky convened a meeting with representatives of Indie Energy, Garrett-Evangelical, Northwestern University, and the Evanston Chamber of Commerce to discuss the economic benefits of using renewable energy to create highly energy efficient buildings for campuses and communities. The meeting was preceded by Schakowsky's visit to the joint Garrett-Evangelical and Indie ...
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Ormat Signs Agreement for North American Geothermal Power Plant Project
Ormat Technologies, Inc. (NYSE: ORA) announced today that Ormat Nevada Inc., its wholly owned subsidiary, was selected to supply a $61.2 million engineering, procurement and construction (EPC) contract through a competitive bid process. Under the expected EPC contract, which is currently under negotiation, Ormat will provide two air-cooled Ormat Energy Converters for a geothermal power plant ...
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NV Energy approves commercial operation date for the McGinness Hills Geothermal Power Plant
Ormat Technologies, Inc. (NYSE: ORA) announced today that NV Energy approved the Commercial Operation Date for the 30-MW (net capacity) McGinness Hills geothermal power plant located in Lander County, Nevada. Following the COD approval, the plant is receiving full energy prices from July 1, 2012. About Ormat Technologies Ormat Technologies, Inc. is the only vertically integrated company ...
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Ormat Technologies, Inc. to Host Conference Call Announcing Second Quarter 2011 Earnings Results
Ormat Technologies, Inc. (NYSE: ORA) plans to announce its second quarter 2011 earnings results in a press release that will be issued on Wednesday, August 3, 2011 after the market close. The Company has scheduled a conference call to discuss the results at 10:00 A.M. EDT on Thursday, August 4, 2011. The conference call will be broadcast live as a listen-only webcast. To listen to the call, ...
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Ormat Technologies Signs EPC Contract with Enel Green Power North America for Cove Fort Geothermal Power Plant Project
Ormat Technologies, Inc. (NYSE:ORA) announced today that its wholly owned subsidiary, Ormat Nevada Inc., concluded and signed a $61.4 million engineering, procurement and construction (EPC) contract with Enel Green Power North America. Under the EPC contract, Ormat will provide two air-cooled Ormat Energy Converters at Enel’s Cove Fort geothermal power plant project in southern Utah. As ...
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Ormat Signs a New 20-Year Power Purchase Agreement for 10 MW Solar PV Project with Imperial Irrigation District
Ormat Technologies, Inc. (NYSE: ORA) today announced that it has signed a power purchase agreement (PPA) with Imperial Irrigation District (IID) for 10 MW of solar photovoltaic (PV) energy. The project, Ormat's first independent PV project in the U.S., will be located near the Heber geothermal complex in Imperial Valley, California. Ormat will develop, own and operate the solar project with ...
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California ISO Releases First-Ever 20-year Transmission Outlook
To help enable and accelerate the integration of new renewable electricity resources onto the grid, the California Independent System Operator (ISO) has published a draft of its first-ever 20-Year Transmission Outlook. The long-range blueprint for the interconnected high-voltage system was developed at the same time as the ISO's customary annual 10-year Transmission planning process. "There is a ...
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Ormat Technologies, Inc. announces appointment of new CFO
Ormat Technologies, Inc. (NYSE: ORA) today announced that Mr. Doron Blachar has been appointed Chief Financial Officer of the Company, effective April 2, 2013. Mr. Blachar, 45, holds a B.A. degree in Accounting and Economics and an M.B.A. degree from Tel Aviv University and is a Certified Public Accountant in Israel. He has 20 years of experience as a finance professional with public companies ...
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Ormat announces commercial operation of Mcginness Hills Geothermal Power Plant
Ormat Technologies, Inc. (NYSE: ORA) announced today that its McGinness Hills geothermal power plant located in Lander County, Nevada met the requirements for commercial operation under the OFC 2 Senior Secured Notes. The 30-megawatt (net capacity) power plant has been in full operation since June 15, 2012, selling the renewable electricity to NV Energy under a 20-year power purchase agreement at ...
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Ormat Technologies, Inc. Announces Partnership Transaction Of Eight Geothermal Power Plants Valued At Up To $44.4 Million
Ormat Technologies, Inc. (NYSE: ORA) announced today that Ormat Nevada Inc., a wholly-owned subsidiary (Ormat Nevada), and JPM Capital Corporation (JPM) entered into a tax equity partnership transaction involving eight geothermal power plants in California and Nevada. Under the transaction, Ormat Nevada transferred the plants into a new subsidiary, ORTP, LLC (ORTP), and sold an interest in ...
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Ormat Updates Impact of California Global Settlement on its 2012 and 2013 Revenues
RENO, Nev., Jan. 30, 2012 /PRNewswire/ -- Ormat Technologies, Inc. (NYSE: ORA) announced today that it is revising its previously issued expectations pertaining to the impact of recently finalized mandatory short-run-avoided-cost ("SRAC") pricing applicable to power purchase agreements ("PPAs") for the Heber 1 and 2 power plants, the Ormesa complex and the Mammoth complex in ...
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Ormat Technologies Announces Financial Closing and First Drawdown on Long-Term Debt Financing for the Expansion of Olkaria III Geothermal Power Complex in Kenya
Ormat Technologies, Inc. (NYSE: ORA) announced today that OrPower 4, Inc., its indirect wholly owned subsidiary, has completed the financial closing of a previously announced limited-recourse project financing totaling up to $310 million for the Olkaria III geothermal power complex located in Naivasha, Kenya, with the Overseas Private Investment Corporation (OPIC), an agency of the United ...
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Ormat Technologies Secures $20 Million Contract for its Product Segment Backlog
Ormat Technologies, Inc. (NYSE: ORA) today announced that its subsidiary entered into a supply contract with Norske Skog Tasman Limited of New Zealand ("Norske Skog") to supply a new geothermal power plant that is to be constructed in the Kawerau Geothermal Field in New Zealand. The contract is valued at a total of approximately $20 million and delivery of the power plant is expected to be ...
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Ormat Technologies Receives US$ 310 Million Commitment Letter to Refinance and Expand Its Olkaria III Geothermal Complex in Kenya
Ormat Technologies, Inc. (NYSE: ORA) announced today that its wholly-owned subsidiary, Ormat International, Inc., signed a commitment letter issued by the Overseas Private Investment Corporation ("OPIC") to provide project financing of up to $310 million, to refinance and expand Ormat's 48 MW Olkaria III geothermal complex located in Naivasha, Kenya. Under the agreed term sheet attached to the ...
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Ormat Technologies, Inc. Awarded First Tender for Geothermal Power Plant by GDC in Kenya
Ormat Technologies, Inc. (NYSE:ORA) today announced that Geothermal Development Company (GDC), owned by the Government of Kenya, has awarded Ormat International Inc., a subsidiary of Ormat Technologies, Inc., its first well head power plant project in the Menengai geothermal field in Kenya on a Build-Own-Transfer (BOT) basis. The award is the result of an international tender for the design, ...
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Ocean-the largest source of Clean energy
Water makes up seventy one percent of the planet earth and ninety eight percent of it constitutes the ocean. It is a single source of water for all forms of life on earth and it also plays an important role in climate changes in the atmosphere. Ocean is the biggest heat sink and absorbs sun’s heat and also a carbon sink absorbing excess carbon dioxide from atmosphere. The surface ...
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Ormat Technologies Awarded BOT Agreement for 45 MW Geothermal Power Project in New Zealand
Ormat Technologies, Inc. (NYSE: ORA) ("Ormat") today announced that its subsidiary has entered into a Build, Operate and Transfer Agreement ("BOT Agreement") with Tikitere Geothermal Power Limited ("TGL") to explore, develop, supply, construct, own and operate a geothermal power plant in the Tikitere geothermal area near Rotorua, New Zealand. Ormat was awarded the project following a ...
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Ormat Technologies, Inc. Provides Information on Transaction Involving Shares of Its Parent Entity
Ormat Technologies, Inc. (NYSE: ORA) today announced that it has been informed by Ormat Industries, Ltd., its parent entity ("Ormat Industries"), of a transaction by and among Bronicki Investments Ltd. ("BIL"), the controlling shareholder of Ormat Industries, and FIMI ENRG Limited Partnership, a newly formed Israeli partnership and FIMI ENRG, a new formed Delaware partnership, both controlled ...
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