Ormat Technologies Secures $36 Million Supply & EPC Contracts for a Geothermal Power Plant in New Zealand
19 Maio 2016 - 10:03AM
Ormat Technologies, Inc. (NYSE:ORA) today announced that one of its
subsidiaries has signed a $36 million Supply, Engineering,
Procurement and Construction, (EPC) contracts, with Eastland Group
for the Te Ahi O Maui geothermal project located near Kawerau, New
Zealand. The construction of the project is expected to be
completed in 2018.
Under the Supply & EPC contracts, Ormat will
provide its air-cooled Ormat Energy Converter for the Te Ahi O Maui
geothermal project. This project is a partnership between Eastland
Generation and the Kawerau A8D Ahu Whenua Trust, who are the owners
of the land on which the project will be constructed. Eastland
Generation owns the geothermal power plant GDL, which was built by
Ormat in 2008.
Isaac Angel, CEO of Ormat Technologies said,
“New Zealand is an early pioneer in geothermal energy, and for the
past forty years it has been the country with the most consistent
policy support for geothermal energy. Ormat has been very active in
New Zealand since the late 80’s, and we have installed our
technology in 14 geothermal power plants covering over 350 MW. We
are very pleased to partner with the Eastland Group, we look
forward to share our technology, accumulated knowledge, and
experience with our customer and to add to its portfolio another
cost-effective and reliable power plant.”
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. 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 72 U.S. patents, Ormat’s power solutions have
been refined and perfected under the most grueling environmental
conditions. Ormat has 450 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 2,000 MW of
gross capacity. Ormat’s current 697 MW generating portfolio is
spread globally in the U.S., Guatemala and Kenya.
Ormat’s Safe Harbor
StatementInformation 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, 2016.
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 (ext. 65726)
slavi@ormat.com
Investor Relations Agency Contact:
Rob Fink/Brett Maas
Hayden - IR
646-415-8972/646-536-7331
rob@haydenir.com / brett@haydenir.com
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