Ormat Signs a $98.8 Million EPC Contract for Geothermal Project in Chile
07 Maio 2015 - 9:15AM
Ormat Technologies, Inc. (NYSE:ORA) announced today that its wholly
owned subsidiary, Orandina I S.p.A., was selected through a
competitive bid process and signed a $98.8 million engineering,
procurement and construction (EPC) contract for a geothermal
project in Chile.
Under the EPC contract, Ormat will provide two
air-cooled ORMAT® ENERGY CONVERTER (OEC) for a high enthalpy
reservoir. The project is scheduled to be completed by
mid-2017.
“This latest order is a powerful validation of
our binary technology and supports our growing product segment
backlog,” said Isaac Angel, CEO of Ormat Technologies. “This
project award is the latest confirmation that geothermal world
leaders recognize that Ormat’s technology is also suited for high
enthalpy. This solution delivers economic value, a positive
environmental impact and mitigates deployment risk adopting its
modular methodology, as recently confirmed in New Zealand and East
Africa as well. This contract significantly increased our products
backlog and will support future revenues for this segment.”
About Ormat Technologies
With five decades of experience, Ormat
Technologies, Inc. is a leading geothermal company and the only
vertically integrated company currently engaged in geothermal and
recovered energy generation (REG), with the objective of becoming a
leading global provider of renewable energy. The company 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 69 U.S. patents, Ormat’s power
solutions have been refined and perfected under the most grueling
environmental conditions. Ormat has 470 employees in the United
States and over 600 overseas. Ormat’s flexible, modular solutions
for geothermal power and REG are ideal for the vast range of
resource characteristics. The company has engineered, manufactured
and constructed power plants, which it currently owns or has
installed to utilities and developers worldwide, totaling over
1,900 MW of gross capacity. Ormat’s current 647 MW generating
portfolio is spread globally in the U.S., Guatemala and Kenya.
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
Technologies, Inc.'s Annual Report on Form 10-K filed with the
Securities and Exchange Commission on February 26, 2015.
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
Investor Relations
775-356-9029
slavi@ormat.com
Investor Relations Agency Contact:
Miri Segal/Brett Maas
MS/Hayden - IR
917-607-8654/646-536-7331
msegal@ms-ir.com / brett@haydenir.com
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