operating geothermal energy News
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ECC Renewables Awarded First-of-Its-Kind $7 Billion US Army Geothermal Energy Contract
ECC Renewables, LLC (ECC) is one of five contractors selected for a $7 billion joint total acquisition value Unrestricted Indefinite Delivery, Indefinite Quantity Multiple Award Task Order Contract (MATOC) for geothermal energy by the US Army Corps of Engineers, Engineering and Support Center, Huntsville. Under the 10-year contract, ECC will compete for projects to develop, construct, finance, ...
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Department of energy announces $20 million to boost development of innovative geothermal technologies
U.S. Energy Secretary Steven Chu today announced $20 million to research, develop and demonstrate cutting-edge geothermal technologies that could reduce U.S. demand for fossil fuels, significantly cut carbon pollution, and create new jobs in geothermal manufacturing and operations. Geothermal energy uses the earth's heat to generate consistent, low-cost renewable energy resources with a small ...
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Award-winning research takes a fresh look at Geothermal Energy
At this year’s National Geothermal Summit on June 3, 2015, the Geothermal Energy Association honored Tom Edmunds and Pedro Sotorrio at Lawrence Livermore National Laboratory (LLNL) for innovative research that contributes to the geothermal industry’s understanding of future energy markets and showcases the benefits of geothermal within the broader context of renewable energy sources. ...
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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 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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Mineral Recovery Creates Revenue Stream for Geothermal Energy Development
Critical materials like rare-earth elements and lithium play a vital role in many clean-energy technologies, including solar panels, wind turbines, electric vehicles, and energy-saving lighting. The Energy Department is pursuing a range of research and development efforts to secure and diversify the supply of critical materials, identify substitute materials, and develop better ways to recycle ...
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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 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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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. 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 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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Energy Department Announces First-of-its-Kind, High-Temperature, Downhole Rechargeable Energy Storage Device
The Energy Department today announced commercialization of a rechargeable energy storage device capable of operating in the extreme temperatures necessary for geothermal energy production. Industry partner FastCAP Systems successfully demonstrated an ultracapacitor that is fully operational in 200°C conditions, extending the upper limit of high-temperature energy storage and electronics, and ...
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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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Sarulla Consortium Signs $1.17 Billion Financing Agreements for 330 MW Sarulla Geothermal Project in Indonesia
Ormat Technologies, Inc. (NYSE: ORA) announced today that members of the Sarulla Consortium comprising of Medco, Itochu, Kyushu and Ormat signed $1.17 billion project financing agreements to finance the development and construction of the 330-megawatt (MW) Sarulla geothermal project in Tapanuli Utara, North Sumatra in Indonesia. Closing is expected in the second quarter of 2014 subject to ...
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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, 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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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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New cooperation agreement signed for geothermal development in Serbia
NIS a Serbian energy company and Betec a geothermal development firm in Belgrade have signed a Co-Operation Agreement on developing Geothermal energy in Serbia, as announced by the partners today. The companies will jointly develop geothermal active areas in northern Serbia by drilling new production wells and building power plants based on the well head power plant technology. The drilling ...
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