Ormat Technologies Confirms Receipt of Payment for All Prior-Year Invoices by ENEE in Honduras
15 Setembro 2020 - 3:27PM
Ormat Technologies, Inc. (NYSE: ORA) today announced that Empresa
Nacional de Energia Electrica, (ENEE), its customer for its
Platanares geothermal power plant in Honduras, has paid the $20
million overdue payment that was outstanding from prior years.
“While expected as we discussed in August, we
are pleased to have received all prior years outstanding payment
from ENEE,” commented Doron Blachar, Chief Executive Officer.
“Ormat provides one of the lowest cost renewable base load
electricity to the population of Honduras, and we look forward to
continuing our strong relationship with ENEE to develop prospects
for additional geothermal power capacity in Honduras.”
Ormat is continuing to explore a new 20 MW
geothermal prospect in the center of Honduras and currently intends
to expedite its efforts to support the demand for renewable energy
and base load electricity in Honduras.
ENEE has initiated discussions with several
IPPs, including Ormat, on potential changes in their existing PPAs.
However, Ormat’s Platanares geothermal power plant has one of the
lowest rates of renewable energy in the country, and Ormat expects
this fact to have positive implications for Ormat’s discussions
with ENEE.
ABOUT ORMAT TECHNOLOGIES
With over five decades of experience, Ormat
Technologies, Inc. is a leading geothermal company and the only
vertically integrated company engaged in geothermal and recovered
energy generation (“REG”), with the objective of becoming a leading
global provider of renewable energy. Ormat owns, operates, designs,
manufactures and sells geothermal and REG power plants primarily
based on the Ormat Energy Converter – a power generation unit that
converts low-, medium- and high-temperature heat into electricity.
With 68 U.S. patents, Ormat’s power solutions have been refined and
perfected under the most grueling environmental conditions. Ormat
has 578 employees in the United States and 830 overseas. Ormat’s
flexible, modular solutions for geothermal power and REG are ideal
for vast range of resource characteristics. Ormat has engineered,
manufactured and constructed power plants, which it currently owns
or has installed to utilities and developers worldwide, totaling
approximately 3,000 MW of gross capacity. Ormat’s current 933 MW
generating portfolio is spread globally in the U.S., Kenya,
Guatemala, Indonesia, Honduras, and Guadeloupe. Ormat leveraged its
core capabilities and global presence, together with the energy
storage expertise of its subsidiary, Viridity Energy Solutions
Inc., to expand its operations to provide energy storage and energy
management solutions.
ORMAT’S SAFE HARBOR STATEMENT
Information provided in this press release may
contain statements relating to current expectations, estimates,
forecasts and projections about future events that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally relate to Ormat's plans, objectives and expectations for
future operations and are based upon its management's current
estimates and projections of future results or trends. Actual
future results may differ materially from those projected as a
result of certain risks and uncertainties.
For a discussion of such risks and
uncertainties, see "Risk Factors" as described in Ormat’s Form 10-K
filed with the Securities and Exchange Commission (“SEC”) on March
2, 2020 and from time to time, in Ormat’s quarterly reports on Form
10-Q that are filed with the SEC.
These forward-looking statements are made only
as of the date hereof, and we undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
Ormat
Technologies Contact: Smadar Lavi VP Corporate Finance and Head of
Investor Relations 775-356-9029 (ext. 65726) slavi@ormat.com |
Investor
Relations Agency Contact:Rob FinkFNK
IR646-809-4048rob@fnkir.com |
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