Ormat Resumes Operation of Puna Power Plant
12 Novembro 2020 - 2:46PM
Ormat Technologies, Inc. (NYSE: ORA) today announced that it has
resumed operation of the Puna Geothermal Power Plant, which
supplies electricity to the Hawaii Island grid, two and a half
years after the eruption of the Kilauea Volcano disrupted
operations.
Electricity production
at Puna resumed on November 5th, 2020, and the plant is currently
delivering between 1 to 2 MW of energy to the utility grid. Ormat
expects to gradually ramp up production to approximately 15 MW by
year end 2020, subject to the successful connection of an
additional production well to the power plant.
Ormat’s recovery plan
included building a new electricity substation and adding new
geothermal wells. The company currently expects that completion of
additional well field work, planned to occur over the next 6
months, will enable the power plant to further ramp up production,
with the goal of resuming full operations by the middle of
2021.
“I truly appreciate
the dedication and hard work of the Ormat team over the last two
and a half years,” said Doron Blachar, Chief Executive Officer of
Ormat Technologies. “The Puna Power Plant provides clean, renewable
base-load energy for Hawaii, supporting the state’s standing as a
recognized leader in green power, increasing Hawaiian Electric’s
generation reserve margins and reducing the need of fossil fuels to
generate electricity for the Island. Ormat and Hawaiian Electric
have worked closely together, and strived thorough challenges
imposed by the COVID-19 pandemic in order to bring the Puna Power
Plant back online for the residents of Hawaii. While the ramp to
full capacity is taking slightly longer than we recently
anticipated, I believe that we will be able to bring Puna back to
normal operation during 2021.”
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 either currently owns or has
installed for 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. In particular,
our expectations as to the timing of the Puna Power Plant returning
to normal operations depends on the progress in securing additional
injection and production capacity. 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 annual report on Form 10-K filed with the Securities and
Exchange Commission (“SEC”) on March 2, 2020 and in Ormat’s
quarterly reports on Form 10-Q that are filed periodically 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 Fink FNK IR
646-809-4048rob@fnkir.com |
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