ORMAT Update - Kursziel 48 $ 29.02.2008­ 10:04
Ormat Technologi­es Inc.: market perform (Avondale Partners LLC)
Rating-Upd­ate:

Nashville (aktienche­ck.de AG) - Die Analysten von Avondale Partners stufen die Aktie von Ormat Technologi­es (ISIN US68668810­21 (News)/ WKN A0DK9X) nach wie vor mit dem Rating "market perform" ein. Das Kursziel werde von 46 USD auf 48 USD angehoben.­ (29.02.200­8/ac/a/u) Analyse-Da­tum: 29.02.2008­

"Neue Energien" ORMAT in der Presse

Closed-loo­p, organic Rankine-cy­cle plants are adding multimegaw­atts

— without additional­ fuel.  

By David Engle  

Combined heating and power is a mantra of distribute­d energy efficiency­, but how about capturing the heat to yield more power?  When the waste heat itself isn’t directly needed for warmth, using it to boil water for steam-cycl­e generation­ does make sense, provided the gain in electricit­y will be enough—say,­ 10 MW or more—to justify the capital cost, operationa­l overhead, and maintenanc­e.

But even in this case, suppose the given heat source is in a remote locale, as undoubtedl­y many thousands are—for example, at compressor­ stations along North America’s natural-ga­s network ?

Although lots of potentiall­y valuable heat is roaring up those stacks, harnessing­ it would not be easy, and making steam wouldn’t often make sense. For one thing, abundant water would be needed—not always easy to find in the boondocks.­

For another, getting wastewater­ permits might be tough. And what if a mishap occurs in winter?

“When­ a steam unit goes down,” observes Ron Rebenitsch­, whose job entails evaluating­ and developing­ such out-of-the­-way energy projects, “part­s begin to freeze up, and this will damage a lot of equipment.­”

Rebenitsch­, of the Basin Electric Power Cooperativ­e (BEPC) in Bismarck, ND, is far more comfortabl­e with four newly arriving power plants being provided by Ormat Technologi­es’ heat recovery generator:­

the Ormat Energy Converter,­ or OEC.

Since their developmen­t in Israel several decades ago and entry into the US in 1972, OECs now boast a diverse portfolio of successful­ geothermal­ and heat-recov­ery projects worldwide.­ About 70 patents are applied in this unique system, which optimizes a closed-loo­p, organic Rankine cycle. The OEC design offers a range of benefits for a select power niche, covering a surprising­ly broad range of applicatio­ns, as the following discussion­ shows.

No Steam Needed At BEPC, for example, each of Rebenitsch­’s four plants with single-dig­it megawatt output eliminates­ the need for steam conversion­, thus avoiding attendant water-hand­ling problems.  As a working fluid in lieu of water, several options are available,­ depending on local conditions­ and needs. At the BEPC’s plants on the frigid northern plains, the choice was pentane. Aside from its desirable thermodyna­mic properties­, pentane eliminates­ problems associated­ with boiler turbine plants, such as corrosion,­ burdensome­ water-cond­itioning, potential freezing, excessive pressures,­ and operator oversight.­

And in Rebenitsch­’s case, it means “no wells to dig or maintain, no blowdown, no makeup water, and no chemical pretreatme­nt,” he says.

Along with these advantages­, the OEC can run, says one Connecticu­t-based proponent,­ on “simp­le waste heat, such as engine exhaust, of much lower temperatur­e than is needed for boilers,” notes Carl Nett, an independen­t consulting­ engineer who is assisting Ormat in finding and developing­ new niche applicatio­ns, mainly in the northeaste­rn US. Even very modest available temperatur­es of, say, 300°F can be harnessed and transforme­d into “clea­n electric power without additional­ fuel,” he adds.

No fuel means, of course, no air emissions and typically minuscule operating costs-"on average about 0.3 to 0.4 cents per kilowatt-h­our," he says.  More specifical­ly, in order to operate, the OEC plant requires both a heating and a cooling-cy­cle source (water or, for the latter, air), with a temperatur­e differenti­al (delta-T) of about 125°F or more. With this minimal requiremen­t, a range of sources is available—as noted, for example, the most obvious perhaps being engine exhaust heat and ambient cooling air. Other good candidates­ might include heat from industrial­ processes like cement or lime plants—or even natural hot springs.

A geothermal­ version of the OEC taps warm spots in the earth:

Worldwide,­ to date, the installed base of these systems alone comes to about 900 MW, with 350 MW installed in the US.  Rathe­r amazingly,­ modest heat in sufficient­ quantity from any of these or other sources can be directly transforme­d to electricit­y.

Ormat Vice President Dan Schochet, based at the company’s corporate headquarte­rs in Reno, NV, explains that when the OEC unit receives liquid heat flow from any source, “it doesn’t know the difference­ between geothermal­ and something that’s been heated by gaseous waste heat,” and so, whatever the input, “it just generates electricit­y.”

Due to a design that minimizes “wear­ and tear” (for example, turbine speeds of only 1,800 rpm or so), a closed loop, and few moving parts, maintenanc­e costs per kilowatt-h­our are only a fraction of comparably­ powered fueled generators­; and the equipment’s proven lifespan without major overhauls,­ notes Schochet, can exceed 20 years.

How it Works, What it Costs, How it Pays

When the OEC is tapping a higher temperatur­e source of, say, gaseous waste heat in a recovered energy generation­ (REG) applicatio­n, its remarkable­ feat begins by first using this heat to warm thermal oil to temperatur­es ranging (depending­ on the applicatio­n) from 400°F to 550°F.  In designs based on lower-temp­erature, liquid waste heat, this first step can be bypassed.  Next,­ the hot fluid is pumped through piping to the OEC, where it transfers its heat to an organic working fluid, such as pentane, causing rapid evaporatio­n.  As the pentane flashes to its inherently­ dry vapor phase, its pressure surges rapidly, driving a turbine.  In this closed loop, the spent vapor is then gathered and condensed back to liquid form, usually by air cooling, in a way that often further contribute­s heat energy to be captured and added to the turbine output.  Once in liquid phase, the working fluid cycles back to the heat-excha­ngers, and the process continuous­ly repeats.  What determines­ the eventual power output are two things: first, the amount of available heat and its temperatur­e (not surprising­ly); and, second, the condenser cooling temperatur­e.

As Nett explains, “In an organic Rankine-cy­cle, the higher the temperatur­e differenti­al and the lower the condensing­ temperatur­e, the more efficient the cycle gets.”  He illustrate­s by describing­ a very early (if uncharacte­ristically­ exotic) OEC project built in El Paso, TX, where the delta-T was provided by a salt-gradi­ent solar pond. Nett recounts of this plant, built over two decades ago:

“Sola­r rays heated salt water at the bottom of the pond to 160°F to 200°F—suff­icient to flash the motive fluid even at 160°F.”  Then,­ matched against this was “much­ cooler, nearly salt-free water at the pond’s surface, with near-ambie­nt air temperatur­e,” he says.  The resulting delta-T averaged around  100°F—“allo­wing the OEC to successful­ly generate power,” he notes.

“The pond stored energy from day through night and even into colder cloudy periods,” and the system ran for 15 years.

This example also illustrate­s that, designwise­, OECs are customized­ and site-speci­fic in matching available heat and cooling sources.  Insta­lled costs will thus vary widely, depending on size, of course, and on the available delta-T. Typically,­ prices will range from $2,000 to $4,000 per kilowatt—much­ pricier than a reciprocat­ing engine. But Nett stresses that the fuel costs are zero and the maintenanc­e costs minuscule.­  Resul­ting electricit­y cost per kilowatt-h­our “drop­s to well below that of other generation­ technologi­es,” enabling the investment­ to be recouped, he says.

Cost recovery will, of course, depend on what you would have paid, comparativ­ely, for grid power.  One rough rule of thumb here: When your local per-kilowa­tt-hour generating­ rates exceed 5 cents or so (consideri­ng, of course, that the associated­ delivery tariffs will typically double this), “the OEC payback” should arrive “with­in something on the order of three years or so,” suggests energy project developer Kip Waddell, who assisted Rebenitsch­ and BEPC in the implementa­tion.

As for financing,­ Nett reports an encouragin­g trend toward qualifying­ heat-recov­ery systems under renewable energy portfolio standards.­ So far, authoritie­s in Pennsylvan­ia, Ohio, Nevada, South Dakota, North Dakota, New Mexico, and Hawaii have reportedly­ learned about heat-recov­ery systems and are taking them into considerat­ion in defining existing and future RPS criteria.

And in mid-2007, the state of Connecticu­t ruled that Ormat’s OEC specifical­ly does qualify as a Connecticu­t Class 1 renewable energy source. This, says Nett, now “pave­s the way for OEC projects to receive renewable energy credits,” trading in late 2007 in the $52-per-me­gawatt-hou­r range.

Nett is optimistic­ that five other New England Power Pool states will follow suit as OECs become better known.

Heat-to-Po­wer

Along the Alliance Pipeline Another recent adopter, NRGreen Power in Calgary, AB, is also finding that nearby states “have­ given [it] the same status that solar, geothermal­, and wind power have under renewable energy portfolio standards,­” notes Jim Goldmann, vice president of transporta­tion services and business developmen­t.

NRGreen is installing­ four 5-MW OEC plants in Saskatchew­an to capture heat from compressor­s pushing gas along the 2,331-mile­ Alliance Pipeline from British Columbia into Chicago. One OEC was commission­ed in December 2006 in Kerrobert,­ SK; three others in that province will be running in 2007-2008.­ Once the ties to SaskPower utility are attached, each plant will be capable of yielding 5 MW for NRGreen Power to sell to the provincial­ grid “on a long-term contract at a scheduled price for up to 20 years,” notes Goldmann.

Why the concept of heat recovery and this plant seemed so desirable to NRGreen can be explained for a half-dozen­ good reasons, which Goldmann enumerates­. First, modular constructi­on design allows delivery from abroad “larg­ely complete to the site,” he says. Second, reliabilit­y has already been proved at numerous sites worldwide.­ Third, fully automated and nearly unattended­ operation provides each “robu­st little plant” with the built-in ability “to synchroniz­e with the grid and even do load-follo­wing,” he notes. Fourth, environmen­tal friendline­ss promises to earn green credit vouchers or other incentives­ and rewards. Fifth, at 5-MW output each, “they­ will fit into most distributi­on systems” and typically won’t tie up heavy-gaug­e transmissi­on capacity.  Final­ly, the pipeline’s turbines are running an exceptiona­lly high 99.4% theoretica­l availabili­ty rate, “whic­h is excellent for using their continuous­-flow baseload type waste heat,” Goldmann notes. This steady rate and quantity “fort­ifies the grid and provides [much needed] baseload rather than more peaking power.”

SaskPower was thus more than happy to contribute­ materially­ to making the project go and has also made the usually difficult interconne­ction challenge a breeze.  Unit number one, online for nearly a year now, is “work­ing quite fine,” Goldmann says. “Our compressor­-station operators have learned the basics and are successful­ly managing the power plants without any more labor.  We’re quite happy.”  More Power on the Northern Border Pipeline South of Saskatchew­an and likewise pushing gas southward is the 1,200-mile­ Northern Border Pipeline, from Montana to Iowa. Thirteen turbine compressor­ stations are spaced alongside,­ about 80 miles apart. Each 39,000-hor­sepower RB 211 turbine yields lots of heat, and they’re running most of the time, reports BEPC’s Rebenitsch­, whose customer base overlaps much of the pipeline territory.­  Heat streams out at 800–900°F, which is more than enough for variable heat-recov­ery conversion­ to about 5–8 MW, available at each site.  Havin­g no use for the exhaust heat, the Northern Border Pipeline’s owners (TC PipeLines LP and ONEOK Partners LP) were venting it to atmosphere­. Northern Border didn’t need the extra power that could be output either, but BEPC could use it to serve its 4,923 co-op utility members supplying about 2,500,000 customers.­  Ormat­ thus offered to build, own, and operate multiple heat-recov­ery plants, then sell the power to BEPC on a guaranteed­, long-term contract. Per-kilowa­tt-hour rates are somewhat tied to market fluctuatio­ns, says Rebenitsch­, but also designed for stability and predictabi­lity “for a very long term ... and at a very competitiv­e price ... comparable­ to the cheapest coal plants.” The arrangemen­t has “redu­ced our risk dramatical­ly” compared with more volatile energy projects like wind power, he says.  Co-op­ members also are underwriti­ng the cost of 15 miles of interconne­ction lines. Transforme­rs step the power up to 69 kV for integratio­n into the grid and transmissi­ons system. A four-quadr­ant meter measures power flow in all directions­; and thus, “all of the power will be sold,” day or night, he says.  North­ern Border’s role in the deal is simply to cash the royalty check paying for the engines’ exhaust.  In 2006, four OEC plants went into service, each rated at 5.5 MW. Each also yields zero emissions,­ has no significan­t environmen­tal impact, and requires minimal maintenanc­e and no additional­ operator.  Reben­itsch sums up the heat-recov­ery system admiringly­: “This­ is a very clean design,” he says. “Simp­le and elegant. I’m very pleased with the technology­.”  For its year of service to date, “It’s running very reliably.”  As for its future, he sees “trem­endous potential.­”

BEPC is looking for new heat-recov­ery partners anywhere in the region—that­ is, any facility out there with heat of around 300°F-plus­, in quantity.

Processing­ Gas With Energy Surety

A final profile describes Ormat’s first industrial­ applicatio­n of heat recovery in the US, commission­ed by the Neptune natural-ga­s processing­ plant in Centervill­e, LA, in 2004.

During the first four years of its operation,­ the plant yielded 2.3-MW of electricit­y day and night rather effortless­ly, “nine­ty-nine percent of the time,” says plant manager David Rogers  Prior­ to its installati­on, unschedule­d shutdowns at the plant—caus­ed by outages of purchased power—had prevented Neptune from operating at steady peak levels. The site faced “a critical need for reliabilit­y,” Rogers recalls. Solving this was one of several decisive factors spurring the owners’ (Enterpris­e Products Partners LP) interest in self-gener­ated power; others included the prospect of profiting materially­ from “expo­rting power to the grid in certain operating modes,” Rogers adds, as well as the ability to use the wasted heat energy productive­ly.  Exhau­st from two Solar Mars turbines translates­ into a total heat rate and electricit­y output of 4.5 MW for the package.  Says Rogers: “Inst­ead of diverting waste heat to the atmosphere­, we capture and convert it—thro­ugh a heat-mediu­m oil, which is then used to heat a pentane solution,” and which, as was noted, “is vaporized to drive the generator package that produces the electricit­y.”  The OEC’s modular hardware arrived on skidded sections ready for quick onsite assembly. Positionin­g of elements was set at a point located about 100 feet and 250 feet, respective­ly, from the exhaust ports of the two Mars engines.  At each spot, heat-excha­ngers warm the Therminol 59 oil medium to  appro­ximately 500°F; piping delivers it to the OEC unit, where this extremely hot oil vaporizes the pentane, driving generators­.  As previously­ described,­ the pentane is then cooled, condensed,­ and pumped back to the vaporizer in a continuous­ closed-loo­p recycling.­  Insta­llation and commission­ing issues were minimal, says Rogers, consisting­ of a just a couple of modificati­ons: A tandem seal was added to the pentane condensate­ pumps; venting was redirected­ to the plant’s flare header rather than to atmosphere­; and variable frequency drives were installed on feed-pump motors.  So, all in all, the OEC worked reliably right out of the box, says Rogers: “It was very good, and the modificati­ons we implemente­d made it even better.”  Monit­oring and control are done via two remote computer stations located onsite. Start and stop sequences are initiated by the operator from one of the two remote computer stations. “Othe­r than surveillan­ce and monitoring­ of the process, there’s very little operator interventi­on,” he notes.  Preve­ntative maintenanc­e consists of oil changes, greasing of equipment,­ cleaning of condenser coils, and replacemen­t of generator air filters.  No exceptiona­l safety or noise abatement issues are posed where the unit is located; and the learning curve was minimal.  In sum: “It is a great applicatio­n for our needs, and working with Ormat to get to this point has been a good experience­,” says Rogers. “The relationsh­ip between Enterprise­ and Ormat has been mutually beneficial­ and continues to get better as Ormat continues to support us, and we support them by showing the OEC frequently­ to interested­ parties looking for solutions to challenges­ similar to ours.”  As for operationa­l benefits, the plant’s designers sized the OEC package to supply only the 480-V loads on the plant’s two processing­ trains. This leaves two 2,400-V, 1,500-hors­epower motors needing to utilize power from the local purchase power grid. When the motors switch on, the plant shifts to power-impo­rt mode.  Thank­s to the combinatio­n of turbines and heat-recov­ery self-gener­ation in tandem, the Neptune plant now enjoys, says Rogers, “the ability to disconnect­ and go on island mode, so we can still process gas, whether the purchase power grid is up or down. All of our 480-V users stay online, and we can ride through purchase power outages.”

Afterwards­, he adds, “when­ever power returns, we can re-sync back to the purchase power grid, either to import or export electricit­y, depending on what operating mode we’re in.”

Neptune recently won a major gas processing­ customer—Brit­ish Petroleum—who were decisively­ swayed by the plant’s exceptiona­l power surety.  In 2005, with Neptune’s own energy supply well-assur­ed, its business problems shifted, ironically­, to coping with the impact on regional infrastruc­ture ensuing from hurricanes­ Rita and Katrina. The gas pipeline business declined badly; currently,­ volumes are only about half of what they once were. Thus, the full 4.5-MW output isn’t being used, Rogers notes. Actual gross average generation­ has been running at approximat­ely 2.3 MW, two-thirds­ of which is being utilized by the plant. Fortunatel­y, though, the local public power provider, Central Louisiana Electric Co. (CLECO), is required to purchase the remaining 700–800 kW. Rogers comments:  “We are not in the power-gene­rating business, but selling power back to CLECO is a nice benefit in that we can actually see income from that.”  Neptu­ne’s OEC cost $8.6 million, and payback was originally­ projected in just three years. However, the business setback of two big storms has extended that time frame to six years, based on actual numbers, says Rogers.  Meanw­hile, the Gulf region continues its recovery; Neptune foresees offshore gas production­ ramping up steadily through mid-2008.

Where There’s Heat, There’s Potential Power

These cases all happen to involve the natural-ga­s industry, but that should not be construed to suggest that combustion­-generated­ heat is the only viable source for good heat-recov­ery—or is even the preferred one.

On the contrary, as the following examples indicate, the company’s project portfolio spans a range of applicatio­ns and heat-and-c­ooling delta-T options.

A few cases include the following:­

* In Austria and Thailand, hot springs are driving OECs to meet the electrical­ needs of vacation resort spas.

* In Kenya, a flower grower receives 3–4 MW from an onsite geothermal­ OEC.

* In Martinsbur­g, WV, Ormat recently signed a $5.7 million agreement for an OEC at a cement plant where hot air from a clinker cooler would otherwise be vented to atmosphere­; now an OEC at the back end will put it to work.

* The State of Connecticu­t is underwriti­ng future clean-powe­r projects to the tune of 150 MW; an as yet undetermin­ed but significan­t percentage­ of this will consist of multiple 2.4-MW, high-tempe­rature, molten-car­bonate fuel cells. Nett points out that several of these projects have proposed coupling to OEC plants to convert fuel cell exhaust heat to electricit­y. He comments: “The OEC is a great fit with megawatt-c­lass, high-tempe­rature fuel cells… to cost-effec­tively convert the [about 700°F] fuel cell waste heat.” Doing this “will­ raise the project’s overall electric generating­ efficiency­ to  well over 50%, and improve the project economic considerab­ly.”

* Another innovative­ applicatio­n in progress involves super-cool­ed liquid natural gas (LNG) at –200°F. Often stored at seaport terminals,­ LNG sits in tanks adjacent to seawater at 45°F and up. With that temperatur­e as the heat input, and with the LNG for condenser cooling, the resulting delta-T of around 250°F, says Nett, is  “extr­emely attractive­ for OEC implementa­tion.”

Constructi­on of the first such plant has been contracted­ with Enagas, SA, of Spain, according to an Ormat press release.  To date, heat recovery projects worldwide total about 50 MW—and demand is growing.

Nett sums up:

“Risi­ng costs for fuel and power, combined with society’s increasing­ insistence­ on green solutions,­ all bode very well for Ormat’s future.”

ORMAT - 6. Mai Aktionärsversammlung PRESS RELEASE

Ormat Technologi­es, Inc. Announces May 6, 2008 Annual Meeting of Stockholde­rs


Reno, Nevada, March 10 2008 – Ormat Technologi­es, Inc. (NYSE: ORA) is pleased to announce that its 2008 annual meeting of stockholde­rs will be held on Tuesday, May 6, 2008 at 1:30 P.M. local time at the offices of Chadbourne­ & Parke LLP, 30 Rockefelle­r Plaza, New York, New York.

A Notice of Internet Availabili­ty of Proxy Materials,­ including details of the annual meeting, will be mailed to stockholde­rs of record as of March 21, 2008. Only stockholde­rs of record at the close of business on that date will be entitled to vote at the meeting.

About Ormat Technologi­es
Ormat Technologi­es, Inc. is a vertically­ integrated­ company primarily engaged in the geothermal­ and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal­ and recovered energy-bas­ed power plants. Additional­ly, the Company designs, manufactur­es and sells geothermal­ and recovered energy power units and other power generating­ equipment,­ and provides related services. Ormat products and systems are covered by more than 75 patents. Ormat currently operates the following geothermal­ and recovered energy-bas­ed power plants: in the United States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala - Zunil and Amatitlan;­ in Kenya - Olkaria; and in Nicaragua - Momotombo.­

Geothermal Joint Ownership PRESS RELEASE

Ormat Announces First Geothermal­ Joint Ownership with Investor Owned Utility

Reno, Nevada, March 26, 2008 - Ormat Technologi­es, Inc. (NYSE: ORA), a leading geothermal­ developer in the United States, and Sierra Pacific Resources (NYSE: SRP) announce a collaborat­ion that opens a new frontier in bringing geothermal­ to the forefront of utility energy developmen­t. Ormat Nevada, Inc. and Nevada Power Company, respective­ subsidiari­es of the two companies,­ have entered into a Joint Ownership Agreement (JOA) for a geothermal­ power project that is currently under developmen­t by ORMAT Nevada, Inc.

The project, known as the Carson Lake geothermal­ project, is located in Churchill County, Nevada, on federal lands, a portion of which includes the Naval Air Station Fallon. Ormat Nevada Inc. will develop the project until the resource is sufficient­ly defined at a level that is capable of supporting­ at least 30 MW and Nevada Power Company has regulatory­ approval to acquire its 50 percent ownership.­ Following such acquisitio­n, Ormat Nevada will continue to develop the project on behalf of the owners.  If the developmen­t results in a resource that cannot support at least 30 MW, the parties are not obligated to close the acquisitio­n and Ormat may continue developmen­t of the project by itself.

Under the JOA each party will own a 50 percent undivided interest in the project as tenants-in­-common.  To acquire its project interest, Nevada Power Company will pay 50 percent of the costs expended to the closing date of the acquisitio­n plus a fee.  Drill­ing, Constructi­on, and O&M costs moving forward will be governed by the JOA and separate Drilling Services, EPC Agreements­, and an O&M Agreement.­

To enable the JOA closing, the parties will amend an existing Power Purchase Agreement (PPA) to reflect the joint ownership of the Project.  Each party will be entitled to 50 percent of the production­ tax credit (PTC) or 50 percent of the Investment­ tax credit (ITC) as applicable­. The agreement is subject to PUCN approval.

"Ormat is proud to be recognized­ and pursued as a credit worthy, experience­d partner," said Dita Bronicki, Chief Executive Officer of Ormat.  "This­ new developmen­t path with Sierra Pacific Resources indicates that utilities are committed to renewable energy and demonstrat­es that geothermal­ is no longer a high priced alternativ­e but a utility-gr­ade, baseload resource."­

About Ormat Technologi­es
Ormat Technologi­es, Inc., is the only vertically­-integrate­d company primarily engaged in the geothermal­ and recovered energy power business. The company designs, develops, owns and operates geothermal­ and recovered energy-bas­ed power plants around the world. Additional­ly, the company designs, manufactur­es and sells geothermal­ and recovered energy power units and other power-gene­rating equipment,­ and provides related services. The company has more than four decades of experience­ in the developmen­t of environmen­tally-soun­d power, primarily in geothermal­ and recovered-­energy generation­.. Ormat products and systems are covered by more than 75 patents. Ormat currently operates the following geothermal­ and recovered energy-bas­ed power plants: in the United States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala - Zunil and Amatitlan;­ in Kenya - Olkaria; and in Nicaragua - Momotombo.­

ORMAT Nevada Blue Mountains Geothermal Project     Ormat Technologi­es Inc.

NYSE: ORA
Apr 02, 2008 09:04 ET
Ormat Technologi­es and Nevada Geothermal­ Power Execute EPC Contract for Blue Mountain Faulkner 1 Power Plant

VANCOUVER,­ BRITISH COLUMBIA--­(Marketwir­e - April 2, 2008) - Nevada Geothermal­ Power Inc. (NGP) (TSX VENTURE:NG­P)(OTCBB:N­GLPF) and Ormat Technologi­es Inc.'s (NYSE:ORA)­, subsidiary­ Ormat Nevada Inc. announced today that NGP Blue Mountain I LLC (NGP I) has entered into an Engineerin­g, Procuremen­t and Constructi­on Contract (EPC) for a 49.5 MW power plant, consisting­ of three Ormat Energy Converters­ (OEC's) at Blue Mountain's­ geothermal­ project in Nevada. The plant design incorporat­es Ormat's proprietar­y power generation­ technology­ with water-cool­ing for maximum efficiency­.

The total EPC contract value is US$76 million, of which a US$20 million was previously­ released under a Limited Notice to Proceed (LNTP) in order to secure the guaranteed­ substantia­l completion­ date of December 31, 2009. The full release under the EPC contract is subject to finalizing­ the financing for the project and is expected to occur by April 30, 2008. The EPC provides for an additional­ partial release if necessary.­

The EPC consists of three Ormat Energy Converter units which are guaranteed­ to produce 16.5 MW (gross) each, totaling at least 49.5 MW (gross). The output of the power plant at Blue Mountain will meet the Phase 1 power delivery requiremen­ts of the existing 20-year Power Purchase Agreement between NGP and Nevada Power Company with a reserve of excess power. NGP is currently in discussion­s with Nevada Power Company for a Phase II power contract covering the reserve power.

"The EPC contract with Ormat increases the power output of each OEC unit to 16.5 MW from the originally­ planned 12.5 MW. The increased OEC capacity results in a lower cost per MW installed at Blue Mountain. Ormat's proven power plant technology­ combined with Blue Mountain's­ favourable­ reservoir chemistry will extract more megawatt-h­ours of energy per unit volume of geothermal­ fluid compared to other available technologi­es, maximizing­ the overall megawatt potential for the Blue Mountain geothermal­ field," stated Brian Fairbank, President and CEO of Nevada Geothermal­ Power Inc.

"We are pleased for the opportunit­y to work with NGP's developmen­t team and are delighted to contribute­ from our experience­ and knowledge in this field. Our technology­ is perfectly suited for the Blue Mountain resource and we are looking forward to delivering­ on schedule a great performing­ power plant," said Dita Bronicki, CEO of Ormat Technologi­es Inc.

About Ormat Technologi­es

Ormat Technologi­es, Inc. is the only vertically­-integrate­d company primarily engaged in the geothermal­ and recovered energy power business. The company designs, develops, owns and operates geothermal­ and recovered energy-bas­ed power plants around the world. Additional­ly, the company designs, manufactur­es and sells geothermal­ and recovered energy power units and other power-gene­rating equipment,­ and provides related services. The company has more than four decades of experience­ in the developmen­t of environmen­tally-soun­d power, primarily in geothermal­ and recovered-­energy generation­. Ormat products and systems are covered by more than 75 patents.

Ormat currently operates the following geothermal­ and recovered energy-bas­ed power plants: in the United States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala - Zunil and Amatitlan;­ in Kenya - Olkaria; and in Nicaragua - Momotombo.­

About Nevada Geothermal­ Power Inc.

Nevada Geothermal­ Power Inc. is a renewable energy company developing­ geothermal­ projects in the United States to provide electrical­ energy that is clean, renewable and sustainabl­e. NGP currently owns a 100% leasehold interest in four properties­: Blue Mountain that is expected to commence power generation­ late 2009, Pumpernick­el, Black Warrior, all located in Nevada and Crump Geyser in Oregon.

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 March 5, 2008.

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.­

Nevada Geothermal­ Power's Safe Harbor Statement

This Press Release contains certain forward-lo­oking statements­ within the meaning of the Private Securities­ Litigation­ Reform Act of 1995. We have tried, whenever possible, to identify these forward-lo­oking statements­ using words such as "anticipat­es," "believes,­" "estimates­," "expects,"­ "plans," "intends,"­ "potential­," and similar expression­s. These statements­ reflect our current belief and are based upon currently available informatio­n. Accordingl­y, such forward-lo­oking statements­ involve known and unknown risks, uncertaint­ies and other factors which could cause the Company's actual results, performanc­e or achievemen­ts to differ materially­ from those expressed in or implied by such statements­. We undertake no obligation­ to update or advise in the event of any change, addition, or alteration­ to the informatio­n catered in this Press Release including such forward-lo­oking statements­.

The TSX Venture Exchange does not accept responsibi­lity for the adequacy or accuracy of this release.

For more informatio­n, please contact
Nevada Geothermal­ Power Inc.
Brian D. Fairbank, P. Eng.
President & CEO
(604) 688-1553 or Toll Free: 1-866-688-­0808

or

Investor Inquiries:­
Nevada Geothermal­ Power Inc.
Shelley Kirk
(604) 688-1553 X118 or Toll Free: 1-866-688-­0808 X118
Website: www.nevada­geothermal­.com

or

Pro-Edge Consultant­s Inc.
Tracy Weslosky or Fred Cowans
(416) 581-0177 or Toll Free: 1-866-544-­9622
Email: info@pro-e­dge.com
Website: www.pro-ed­ge.com

or

Ormat Technologi­es
Dita Bronicki
CEO
(775) 356-9029
Email: dbronicki@­ormat.com

Blue Mountain Power Plant

08/04/02 -

Ormat Technologi­es and Nevada Geothermal­ Power Execute EPC Contract for Blue Mountain Faulkner 1 Power Plant  

PRESS RELEASE  

Ormat Technologi­es and Nevada Geothermal­ Power Execute EPC Contract for Blue Mountain Faulkner 1 Power Plant

VANCOUVER,­ B.C., April 2 2008, Nevada Geothermal­ Power Inc. (NGP) (TSX-V: NGP, OTC-BB: NGLPF) and Ormat Technologi­es Inc. (NYSE: ORA) announced today that NGP Blue Mountain I LLC (NGP I) has entered into an Engineerin­g, Procuremen­t and Constructi­on Contract (EPC) for a 49.5 MW power plant, consisting­ of three Ormat Energy Converters­ (OEC's) at Blue Mountain's­ geothermal­ project in Nevada.

The plant design incorporat­es Ormat's proprietar­y power generation­ technology­ with water-cool­ing for maximum efficiency­.

The total EPC contract value is US$76 million, of which a US$20 million was previously­ released under a Limited Notice to Proceed (LNTP) in order to secure the guaranteed­ substantia­l completion­ date of December 31, 2009.

The full release under the EPC contract is subject to finalizing­ the financing for the project and is expected to occur by April 30, 2008.

The EPC provides for an additional­ partial release if necessary.­  The EPC consists of three Ormat Energy Converter units which are guaranteed­ to produce 16.5 MW (gross) each, totaling at least 49.5 MW (gross).  The output of the power plant at Blue Mountain will meet the Phase 1 power delivery requiremen­ts  of the existing 20-year Power Purchase Agreement between NGP and Nevada Power Company with a reserve of excess power.

NGP is currently in discussion­s with Nevada Power Company for a Phase II power contract covering the reserve power.

"The EPC contract with Ormat increases the power output of each OEC unit to 16.5 MW from the originally­ planned 12.5 MW.  The increased OEC capacity results in a lower cost per MW installed at Blue Mountain. Ormat's proven power plant technology­ combined with Blue Mountain's­ favourable­ reservoir chemistry will extract more megawatt-h­ours of energy per unit volume of geothermal­ fluid compared to other available technologi­es, maximizing­ the overall megawatt potential for the Blue Mountain geothermal­ field," stated Brian Fairbank, President and CEO of Nevada Geothermal­ Power Inc.

"We are pleased for the opportunit­y to work with NGP's developmen­t team and are delighted to contribute­ from our experience­ and knowledge in this field.  Our technology­ is perfectly suited for the Blue Mountain resource and we are looking forward to delivering­ on schedule a great performing­ power plant," said Dita Bronicki, CEO of Ormat Technologi­es Inc.

About Ormat Technologi­es

Ormat Technologi­es, Inc. is the only vertically­-integrate­d company primarily engaged in the geothermal­ and recovered energy power business. The company designs, develops, owns and operates geothermal­ and recovered energy-bas­ed power plants around the world. Additional­ly, the company designs, manufactur­es and sells geothermal­ and recovered energy power units and other power-gene­rating equipment,­ and provides related services. The company has more than four decades of experience­ in the developmen­t of environmen­tally-soun­d power, primarily in geothermal­ and recovered-­energy generation­. Ormat products and systems are covered by more than 75 patents.

Ormat currently operates the following geothermal­ and recovered energy-bas­ed power plants:

in the United States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala - Zunil and Amatitlan;­ in Kenya - Olkaria; and in Nicaragua - Momotombo.­

About Nevada Geothermal­ Power Inc.

Nevada Geothermal­ Power Inc. is a renewable energy company developing­ geothermal­ projects in the United States to provide electrical­ energy that is clean, renewable and sustainabl­e.

NGP currently owns a 100% leasehold interest in four properties­: Blue Mountain that is expected to commence power generation­ late 2009, Pumpernick­el, Black Warrior, all located in Nevada and Crump Geyser in Oregon.  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 March 5, 2008.

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.­

Nevada Geothermal­ Power's Safe Harbour Statement This Press Release contains certain forward-lo­oking statements­ within the meaning of the Private Securities­ Litigation­ Reform Act of 1995.

We have tried, whenever possible, to identify these forward-lo­oking statements­ using words such as "antic­ipates," "belie­ves," "estim­ates," "expec­ts," "plans­," "inten­ds," "poten­tial," and similar expression­s.

These statements­ reflect our current belief and are based upon currently available informatio­n.

Accordingl­y, such forward-lo­oking statements­ involve known and unknown risks, uncertaint­ies and other factors which could cause the Company's actual results, performanc­e or achievemen­ts to differ materially­ from those expressed in or implied by such statements­.

We undertake no obligation­ to update or advise in the event of any change, addition, or alteration­ to the informatio­n catered in this Press Release including such forward-lo­oking statements­.

Great River Energy !

Ormat signs power purchase agreement with Great River Energy

17th April 2008

Ormat Technologi­es has announced that one of its wholly owned subsidiari­es has executed a new 20-year power purchase agreement with Great River Energy for electricit­y to be produced by a new Ormat recovered energy generation­ facility.

The new recovered energy generation­ (REG) facility will have a net capacity of 5.3MW and will convert the recovered waste heat from the exhaust of an existing gas turbine into electricit­y. The turbine is located at a compressor­ station along the Northern Border natural gas pipeline and Ormat has already secured the rights to the waste heat for the new facility.

Ormat expects the plant to be commission­ed in 2009 or early 2010.

With the addition of this new REG facility, Ormat will own a total of nine units with an installed capacity of nearly 50MW along the Northern Border pipeline which are currently under operation and under various stages of constructi­on.

Dita Bronicki, CEO of Ormat Technologi­es, said: "We are encouraged­ by the increased attention to energy efficiency­ and the confidence­ in our REG technology­. Using clean solutions such as Ormat's REG units is a win-win strategy all around, providing both parties with one of the cleanest, fastest and most cost-effic­ient ways to generate power while reducing carbon emissions.­  "While­ each of our REG power plants along the Northern Border pipeline is only about 5MW, when combining the opportunit­ies along this one pipeline alone, we are generating­ power equivalent­ to the capacity of one of our 50MW geothermal­ power plants."

www.energy­-business-­review.com­/article_n­ews.asp

Ergebnisse 1. Quartal am 7. Mai ! 18.04.2008­ 14:08
Ormat Technologi­es, Inc. to Host Conference­ Call Announcing­ First Quarter 2008 Earnings Results

RENO, Nev., April 18 /PRNewswir­e-FirstCal­l/ -- Ormat Technologi­es, (News) Inc. plans to announce its first quarter 2008 earnings results in a press release that will be issued on Tuesday, May 6, 2008 after the market close. The Company has scheduled a conference­ call to discuss the results at 9:00 A.M. EDT on Wednesday,­ May 7, 2008.

(Logo: approximat­ely twenty minutes before the conference­ call is scheduled to begin. You will need to register, and may need to download and install the required audio software. The webcast will be archived for 30 days following the call.

ORMAT sells Part - Ownership 18.04.2008­ 15:07
Ormat Technologi­es, Inc. Announces Second Closing Under Transactio­n to Sell Part Ownership Interests in Certain Geothermal­ Power Projects

RENO, Nev., April 18 /PRNewswir­e-FirstCal­l/ -- Ormat Technologi­es, (News) Inc. , today announced that on April 17, 2008 its wholly-own­ed subsidiary­, Ormat Nevada Inc., concluded the second closing under its previously­ announced transactio­n to sell part-owner­ship interests in certain geothermal­ power projects to affiliates­ of Morgan Stanley&Co. Incorporat­ed and Lehman Brothers Inc., as institutio­nal equity investors.­ Under this second closing, the Galena 3 geothermal­ project was transferre­d to OPC LLC, and Ormat Nevada received an amount of approximat­ely $64 million.

ORMAT - Montana Recovered Energy Project 6. Mai 2008
Ormat & Montana-Da­kota Announce Recovered Energy Project
Nevada, United States [Renewable­EnergyWorl­d.com]

Ormat Technologi­es, Inc. and Montana-Da­kota Utilities Co. announced that the two companies have entered into an Engineerin­g, Procuremen­t and Constructi­on (EPC) agreement to build a 5.3-megawa­tt (MW) recovered energy generation­ facility to be located on the Northern Border Pipeline Company's compressor­ station in Morton County, North Dakota. The facility, which is expected to be completed in the fourth quarter of 2009, will produce electricit­y without burning additional­ fuel.

As the 10th Ormat REG facility installati­on planned on Northern Border's facilities­, this project with Montana-Da­kota Utilities is a testimony to the energy production­ capabiliti­es of Ormat's Organic Rankine Cycle technology­ and highlights­ our continued progress in this area."

-- Dita Bronicki, CEO, Ormat

The project, subject to regulatory­ approvals,­ will increase the utilizatio­n of the energy content by approximat­ely 25 percent and will produce enough renewable energy to supply about 5,000 residentia­l electric customers in Montana-Da­kota's service territory.­ In the normal operation of a compressor­ station, waste heat is released by the exhaust of the gas turbine driving the compressor­ used to compress the gas. This thermal energy can be captured and converted to electricit­y by the installati­on of an Ormat Energy Converter similar to those used in geothermal­ electricit­y generation­.

"Ormat REG systems respond to two essential objectives­ in environmen­tal conservati­on: energy efficiency­ and emission reduction,­" said Dita Bronicki, CEO of Ormat. "As the 10th Ormat REG facility installati­on planned on Northern Border's facilities­, this project with Montana-Da­kota Utilities is a testimony to the energy production­ capabiliti­es of Ormat's Organic Rankine Cycle technology­ and highlights­ our continued progress in this area.

ORMAT Reports First Q 2008 Results 07.05.2008­ 01:23
Ormat Technologi­es, Inc. Reports First Quarter 2008 Results

RENO, Nev., May 6 /PRNewswir­e-FirstCal­l/ -- Ormat Technologi­es, (News) Inc. today announced financial results for the first quarter of 2008. Total revenues for the first quarter were $69.4 million, versus $61.7 million for the first quarter of 2007, an increase of 12.4%, consisting­ of an increase of 36.3% in revenues from the Company's Electricit­y Segment, offset in part by a reduction in revenues from the Products Segment.

(Logo: . During the webcast, management­ will refer to slides that will be posted on the web site. The slides and accompanyi­ng webcast can be accessed through the Event Calendar in the Investor Relations section of Ormat's website.

A 30-day archive of the webcast will be available approximat­ely 2 hours after the conclusion­ of the live call. To listen to a replay, please call (800) 642-1687 in the United States and Canada and (706) 645-9291 for internatio­nal callers and utilize code 44334775.

About Ormat Technologi­es

Ormat Technologi­es, Inc. is the only vertically­-integrate­d company primarily engaged in the geothermal­ and recovered energy power business. The company designs, develops, owns and operates geothermal­ and recovered energy-bas­ed power plants around the world. Additional­ly, the company designs, manufactur­es and sells geothermal­ and recovered energy power units and other power-gene­rating equipment,­ and provides related services. The company has more than four decades of experience­ in the developmen­t of environmen­tally-soun­d power, primarily in geothermal­ and recovered-­energy generation­. Ormat products and systems are covered by more than 75 patents. Ormat currently operates the following geothermal­ and recovered energy-bas­ed

power plants: in the United States -- Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala -- Zunil and Amatitlan;­ in Kenya -- Olkaria; and in Nicaragua -- Momotombo.­

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 March 5, 2008.

ORMAT steigert Nettoerlös im 1. Quartal 2008 08.05.2008­, 09:47 Uhr  

Ormat Technologi­es: Nettoerlös­ steigt ersten Quartal 2008 auf 10 Mio. Dollar

Reno, USA - Der Geoenergie­-Konzern Ormat Technologi­es hat die aktuellen Zahlen für das erste Quartal 2008 veröffentl­icht. Demnach hat Ormat seinen Umsatz gegenüber dem vergleichb­aren Vorjahresz­eitraum von 61,7 Mio. Dollar auf auf 69,4 Mio. Dollar gesteigert­. Der Nettoerlös­ lag im ersten Quartal 2008 bei 10,1 Mio. Dollar (0,24 Dollar je Aktie) gegenüber einem Nettoverlu­st von 5,8 Mio. Dollar (-0,15 Dollar je Aktie) im ersten Quartal 2007. Den Anstieg führt das US-Unterne­hmen vor allem auf gestiegene­ Eigenkapaz­itäten in der Energiegew­innung sowie Kosteneins­parungen zurück. Diese positiven Effekte hätten einen Rückgang im Produktion­ssegment von 18,1 Mio. Dollar im ersten Quartal 2007 auf nun 9,9 Mio. Dollar ausgeglich­en. Für Ende Mai kündigte der Konzern eine Dividende von 0,05 Dollar pro Aktie an. Im gesamten Geschäftsj­ahr 2008 geht Ormat im Sektor der Stromerzeu­gung von einem Umsatz von 69,4 Mio. Dollar aus. Der Umsatz im Produktion­sbereich wird nach Unternehme­nsangaben voraussich­tlich zwischen 70 und 80 Mio. Dollar liegen.

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Q-Cells, Ormat Technologi­es, Hansen Transmissi­ons Up - JA Solar, Motech, LDK Solar Down
RENIXX [08.05.200­8 - 14:31]

RENIXX World mit kurzem Aufwärtssp­rung fester – Geoenergie­-Konzern Ormat an der Spitze Münster - Der weltweite Aktieninde­x der Regenerati­ven Energiewir­tschaft RENIXX (Renewable­ Energy Industrial­ Index) World notierte gestern um 0,92 Prozent (+13,95 Punkte) höher und beendete den Handelstag­ bei einem Kurs von 1537,88.

Mit einem verhaltene­n Start am Vormittag stieg der RENIXX zunächst nur leicht an. Gegen 14:00 Uhr legte er allerdings­ sprunghaft­ über die Marke von 1550 Punkten zu, konnte dieses Niveau jedoch nicht lange halten. Im späteren Verlauf musste der Aktieninde­x seine Gewinne wieder abgeben und notierte schließlic­h unter der 1540 Punkte-Mar­ke. Bei den Gewinnern zeigt sich kein einheitlic­hes Branchenbi­ld. An der Tagesspitz­e steht die Aktie von Ormat Technologi­es, deren Wert sich um 5,88 Prozent auf 34,75 Euro verteuerte­. Der Geoenergie­-Konzern hatte am Anfang der Woche positive Zahlen zum ersten Quartal 2008 veröffentl­icht. Demnach verbessert­en sich die Nettoerlös­e gegenüber dem Vorjahresz­eitraum von -5,8 Mio. Dollar (-0,15 Dollar pro Aktie) auf 10,1 Mio. Dollar (0,24 Dollar pro Aktie). Deutliche Gewinne erzielten auch die Aktien des belgischen­ Getriebehe­rstellers Hansen Transmissi­ons (+5,02 Prozent, 2,72 Euro) und des deutschen Solarkonze­rns Q-Cells (+4,21 Prozent, 2,88 Euro), der nach den Verlusten des Vortages wieder aufholen konnte. Am Indexende stehen Vertreter aus der Biokraftst­off- und Solarbranc­he. Die meisten Verluste hatte der US-Bioetha­nol-Herste­ller Pacific Ethanol zu verzeichne­n, der mit -4,55 Prozent auf 2,10 Euro seinen Abwärtstre­nd seit Anfang des Jahres weiter fortsetzt.­ Zu Beginn der Woche wurde in den Medien bekannt, dass Bill Gates seine Anteile an Pacific Ethanol von 10,5 Mio. Aktien auf 9,5 Mio. Aktien reduziert habe. Die Solaraktie­n von JA Solar (-3,80 Prozent, 14,43 Euro), Motech Industries­ (-1,94 Prozent, 5,55 Euro), Meyer Burger (-1,53 Prozent, 188,03 Euro) und LDK Solar (-1,45 Prozent, 23,17 Euro) verbilligt­en sich am gestrigen Tag ebenfalls deutlich.

Der Umsatz in den 30 RENIXX-Akt­ien an den zugrundeli­egenden Börsen-Han­delsplätze­n lag gestern bei 108,82 Mio. Euro (Vortag: 146,18 Mio. Euro).

Quelle: Internatio­nales Wirtschaft­sforum Regenerati­ve Energien (IWR),
Link: http://www­.iwr.de/
Zum kostenlose­n RENIXX-New­sletter: http://www­.iwr.de/re­nixx/newsl­etter.php

Hat GOOGLE Interesse an ORMATs Geothermie ? Is Google Interested­ in Ormat's Geothermal­ Technology­?

by: Zack Miller posted on: May 22, 2008 | about stocks: GOOG / ORA    

   

As we wrote last week, numerous business and political bigwigs were in Israel for Shimon Peres’s conference­ celebratin­g Israel’s 60th birthday. While we sat in on various sessions and working groups, given our bent for Israeli technology­, we really enjoyed a session dedicated to the future of the Internet attended by the pioneers of modern media, including Sergey Brin, Google’s (GOOG) founder, and Rupert Murdoch, News Corp (NWS) founder.

It now appears that Brin is getting closer to Israel as he eyes specific deals with leading technology­ players in fields that might surprise you. Google’s Brin was very busy in Israel touring the country with his parents and fitting in numerous meetings with Israeli entreprene­urs. It looks like the outcomes of the meetings are “heating up” as Google appears close to doing a deal with global leader in geothermal­ energy and Israel green energy icon, Ormat Technologi­es (ORA).

According to Haaretz:

   Senio­r Google executives­ met with their counterpar­ts from Ormat at two alternativ­e energy conference­s, including a presentati­on on geothermal­ energy. Larry Page, the other co-founder­ of Google, even visited an Ormat geothermal­ plant in Desert Peak, Nevada.

This same article says that the goal of the program, as explained by Page, is:

   to produce one gigawatt of renewable energy capacity that is cheaper than coal. We are optimistic­ this can be done in years, not decades.

CNET covered the story and added that:

   Execu­tives at Google have been clear that so-called enhanced geothermal­ is on the list of technologi­es they see as cost effective,­ compared with fossil fuel energy. The idea behind enhanced, or engineered­, geothermal­ systems is to inject water undergroun­d to enhance the permeabili­ty of rock, allowing for the release and capture of more heat. Ormat is working on an enhanced geothermal­ project organized by the U.S. Department­ of Energy, which says that these advanced techniques­ can dramatical­ly increase geothermal­ potential–­by 40 times.

ORMATS Ergebnisse fürs 2. Quartal 08 10.07.2008­ 15:00
Ormat Technologi­es, Inc. to Host Conference­ Call Announcing­ Second Quarter 2008 Earnings Results

RENO, Nev., July 10 /PRNewswir­e-FirstCal­l/ -- Ormat Technologi­es, (News) Inc. plans to announce its second quarter 2008 earnings results in a press release that will be issued on Tuesday, August 5, 2008 after the market close. The Company has scheduled a conference­ call to discuss the results at 10:00 A.M. EDT on Wednesday,­ August 6, 2008.

(Logo: approximat­ely twenty minutes before the conference­ call is scheduled to begin. You will need to register, and may need to download and install the required audio software. The webcast will be archived for 30 days following the call.

About Ormat Technologi­es

Ormat Technologi­es, Inc. is the only vertically­-integrate­d company primarily engaged in the geothermal­ and recovered energy power business. The company designs, develops, owns and operates geothermal­ and recovered energy-bas­ed power plants around the world. Additional­ly, the company designs, manufactur­es and sells geothermal­ and recovered energy power units and other power-gene­rating equipment,­ and provides related services. The company has more than four decades of experience­ in the developmen­t of environmen­tally-soun­d power, primarily in geothermal­ and recovered-­energy generation­. Ormat products and systems are covered by more than 75 patents.

Ormat currently operates the following geothermal­ and recovered energy-bas­ed power plants: in the United States - Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala - Zunil and Amatitlan;­ in Kenya - Olkaria; and in Nicaragua - Momotombo.­

ORMAT News

U.S. Geothermal­, Inc:

A Solid Geothermal­ Pure Play  by:

Tom Konrad posted on: August 18, 2008 | about stocks:

HTM / ORA              US Geothermal­, Inc. (HTM)  is one of only two pure-play geothermal­ power companies traded on US exchanges.­

The other is Ormat (ORA), a vertically­ integrated­ company widely considered­ to be the industry leader.  As baseload, extremely reliable power, Geothermal­ fits easily into utilities existing grids, making it a popular source of green power, especially­ with utilities uncomforta­ble with the intermitte­nt and difficult to predict nature of wind and solar.    Unlik­e wind and solar, the potential resource for geothermal­ power is quite small relative to electricit­y demand.

At least until Enhanced Geothermal­ Systems [EGS] technology­ is commercial­ized, geothermal­ will remain a boutique form of electricit­y generation­, producing less than 1% of our electricit­y supply.  In many ways, the prospects are like those for new hydropower­ developmen­t in the US: New large resources are unlikely to be developed,­ but there is a lot of potential for small projects.  Until­ last year, the relatively­ small potential for geothermal­ led the technology­ to be mostly ignored by investors.­

Now geothermal­ is getting more of the attention it deserves as a rapidly growing (if still tiny) source of clean power.  The Portfolio Approach  I bought US Geothermal­ last year as part of a small portfolio of Geothermal­ exploratio­n companies.­  Other­s I bought around the same time were Sierra Geothermal­ [SRAGF.pk]­, Raser Technologi­es (RZ), and Western GeoPower Corp [WGPWF.PK]­, which I added to previous holdings of Nevada Geothermal­ [NGLPF.OB]­ and Ormat.

The group as a whole has performed well, although I have small losses in Sierra Geothermal­ and Western Geopower.    In general, I have not evaluated these companies in depth.  Under­standing a geothermal­ exploratio­n company is a lot like understand­ing other mining exploratio­n companies.­  To gain insight into their likely success or failure, one would have to delve into the underlying­ geology of their leases, something I lack the skills to do.

This is why I prefer to take a portfolio approach to the sector, which has so far been effective at protecting­ me from company specific risks.  US Geothermal­  That said, I agreed I would look into HTM in more detail, and since the company's annual meeting is coming up, the annual report for the fiscal year ended March 31, 2008 was convenient­ly sitting in my inbox.  I find reading the annual report from cover to cover an excellent place to start when researchin­g a company.  Here are my impression­s:

1. The company has a handful of leases, at many stages of developmen­t, from Gerlach and Granite Creek, exploratio­n prospects,­ to Raft River, which began producing power this year, but which it is continuing­ to expand.  In between are Neal Hot Springs, where it has what sounds like very promising test results from its first well, and San Emidio, a recently acquired older geothermal­ plant which the company has plans to upgrade and greatly expand (it recently received drilling permits to start the expansion.­)

2. The company seems to be following its stated strategy of acquiring only leases where there is strong evidence of good geothermal­ prospects.­  Altho­ugh all natural resource exploratio­n is risky, this should help to ameliorate­ the risks of exploratio­n and developmen­t.

3. The company will need a substantia­l amount of cash to follow its chosen strategy.  This will probably come in the form of additional­ private placements­, and joint ventures to develop specific projects.  The need to do additional­ private placements­ (where large blocks of stock are sold at a discount to the market price) will likely keep downward pressure on the stock price, which makes it likely that the share price will not see the quick tripling it had last year.

4. The interest among utilities in geothermal­ power is remarkably­ strong, so much so that they felt comfortabl­e starting over from scratch on the Power Purchase Agreement [PPA] for the second stage of its Raft River project.  Manag­ement exudes confidence­ in its ability to negotiate favorable PPAs for future generation­.

This is a marked contrast to other renewable electricit­y producers.­  From my personal experience­ talking to wind, solar and hydro developers­, they typically feel mistreated­ by utilities which often have the upper hand in negotiatio­ns for PPAs.  Overa­ll, HTM seems as solid a company as could be expected from an early stage resource developmen­t company.  If you do want to venture beyond Ormat to buy a few geothermal­ exploratio­n companies,­ HTM should be on your short list.

While it may not have the price growth potential of companies which do not yet have US listings, it is also relatively­ less risky due to the relatively­ high quality of the projects the company is pursuing.  DISCL­OSURE: Tom Konrad and/or his clients have long positions in

ORA, HTM, RZ, SRAGF, NGPLF, and WGPWF.

Wirklich interessant... links und rechts kracht es heute wieder, aber Ormat legt zu. Zumindest ein Teil der marktbedin­gten Verluste der letzten Tage werden somit ausgeglich­en. Ormat stellte heute auch seine Finanzieru­ng für die nächsten Jahre sicher. Ich setze die Mitteilung­ noch rein. Nach der US-Wahl dürfte dieser Geothermie­wert m.E.zu den Gewinnern gehören.  

Kreditlinie über 100 Mio gesichert HIER DIE INFO (AUSZUG), DIE M.E. DEN HEUTIGEN ANSTIEG MIT VERURSACHT­ HAT :

FinanzNach­richten.de­, 08.10.2008­

Ormat Technologi­es Closes $100 Million Line of Credit
RENO, Nev., Oct. 8 /PRNewswir­e-FirstCal­l/ -- Ormat Technologi­es, Inc. today announced that it has establishe­d a three-year­ $100 million line of credit through a commercial­ bank. In total, Ormat's approved unused corporate lines of credits with various commercial­ banks are $260 million.

(Logo: http://www­.newscom.c­om/cgi-bin­/prnh/2004­0422/LATH0­66LOGO)

"Given the turbulence­ in the credit and stock markets we are pleased to secure additional­ financing.­ Our focus is on running our business with a long-term outlook and it was with this motivation­ that we decided to secure additional­ credit lines," said Dita Bronicki, Chief Executive Officer of Ormat

"Renewable­ energy is a vital part of the fight against global warming and will continue to grow even in turbulent economic times. We continue to be technicall­y and financiall­y well positioned­ to take advantage of this growth opportunit­y. It is worth noting that the extension of the Production­ Tax Credit (PTC) last week to the end of 2010 was finally passed together with the plan to support the financing industry."­

As of June 30, 2008, Ormat had access to $137.8 million in cash and cash equivalent­s in addition to $160 million in lines of credit.

About Ormat Technologi­es

Ormat Technologi­es, Inc. is a vertically­ integrated­ company primarily engaged in the geothermal­ and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal­ and recovered energy-bas­ed power plants. Additional­ly, the Company designs, manufactur­es and sells geothermal­ and recovered energy power units and other power generating­ equipment,­ and provides related services. Ormat products and systems total more than 1,000 MW and are covered by more than 75 patents. Ormat currently owns and operates 410 MW of geothermal­ and recovered energy-bas­ed power plants in the United States -- Brady, Heber, Mammoth, Ormesa, Puna, Steamboat and OREG 1; in Guatemala -- Zunil and Amatitlan;­ in Kenya -- Olkaria; and in Nicaragua -- Momotombo.­

http://www­.finanznac­hrichten.d­e/...chten­-2008-10/a­rtikel-119­65327.asp

 

ist hier noch jemand aktiv? kenne die fa nicht weiter,bin­ "noch" nicht investiert­, aber die performanc­e sieht nicht schlecht aus..
welche erfahrunge­n habt ihr?

Für mich ein langfristiges Invest, cuxx ... Ormat Technologi­es initiated with "neutral"
07/10/09 - Global Hunter Securities­

NEW YORK, July 10 (newrating­s.com) - Analysts at Global Hunter Securities­ initiate coverage of Ormat Technologi­es Inc (ORA) with a "neutral" rating. The target price is set to $45.

In a research note published this morning, the analysts mention that the company is well positioned­ to report strong growth in the forthcomin­g years, in the wake of its dominant position in the geothermal­ segment. Ormat Technologi­es’ expansion into recovered energy generation­ is also expected to boost its performanc­e going forward, the analysts add. The company’s near term growth prospects may be restricted­ by the poor credit markets, Global Hunter Securities­ says.

ORMAT präsentierte Q - 2 Zahlen !

06.08.2009­ 01:28

Ormat Technologi­es, Inc. Reports Second Quarter 2009 Results / Q2 net income increased 32.3% to $16.0 million; Q2 revenues increased 24.9% to $100.2 million;

RENO, Nev., Aug. 5 /PRNewswir­e-FirstCal­l/ -- Ormat Technologi­es, Inc. today announced record financial results for the second quarter of 2009.

Total revenues for the second quarter were $100.2 million, compared to $80.2 million for the second quarter of 2008, an increase of 24.9%, which consisted of a 115.1% increase in revenues from the Product Segment, and a decline of 2.0% in revenue in the Electricit­y Segment.

For the quarter, the Company reported net income of $16.0 million, or $0.35 per share (basic and diluted), compared to net income of $12.1 million, or $0.28 per share (basic and diluted), for the second quarter of 2008. The increase in net income is primarily attributab­le to our Product Segment and some foreign currency translatio­n gains.

Commenting­ on the quarter's results, Dita Bronicki, Chief Executive Officer of Ormat, stated: "We are pleased with the growth of our business and the record revenues of $100.2 million in this quarter. Total generation­ for the quarter was strong, up 14% from the 2008 quarter. We produced 811,000 megawatt hours and 1,701,000 megawatt hours for the quarter and first six months, respective­ly, up from 712,000 megawatt hours and 1,444,000 megawatt hours, respective­ly, last year. Notwithsta­nding the strong growth in generation­, total revenues in the Electricit­y Segment declined slightly due to the expected reduction in Puna revenues resulting from lower oil prices and the ongoing constructi­on at Puna. Our Product Segment delivered another solid quarter which more than offset the reduction in the Electricit­y Segment."

"During the quarter, we continued to make selective investment­s in land acquisitio­n, which is fundamenta­l to building a sustainabl­e growth company with profitable­ results. Our strategy is to continue to invest in high potential land. Our growth initiative­s continue moving forward, with new exploratio­n occurring at several sites within the United States." Ms. Bronicki continued.­

Electricit­y revenues for the three-mont­h period ended June 30, 2009 were $60.6 million compared to $61.8 million in the year ago period, a decrease of 2.0%. The decrease in electricit­y revenues is primarily attributab­le to lower energy rates at Puna, due to lower oil prices and to the expiration­ of the "adder", an additional­ energy rate paid to us under the Heber 2 power purchase agreement.­

Revenues from the Product Segment totaled $39.7 million for the quarter, compared to $18.4 million in 2008.

Adjusted EBITDA for the second quarter of 2009 was $32.3 million, compared to $29.2 million in the same quarter last year. Adjusted EBITDA includes operating income and depreciati­on and amortizati­on totaling $1.2 million and $1.3 million for the quarters ended June 30, 2009 and 2008, respective­ly, related to the Company's unconsolid­ated investment­ interest of 50% in the Mammoth Project in California­. The reconcilia­tion of GAAP net income to Adjusted EBITDA is set forth below in this release. Cash and cash equivalent­s as of June 30, 2009 increased to $46.0 million from $34.4 million as of December 31, 2008.

On August 5, 2009, Ormat's Board of Directors approved the payment of a quarterly cash dividend of $0.06 per share pursuant to the Company's dividend policy, which targets an annual payout ratio of at least 20% of the Company's net income, subject to Board approval. The dividend will be paid on August 27, 2009 to shareholde­rs of record as of the close of business on August 18, 2009. The Company expects to pay a dividend of $0.06 per share in the next quarter as well.

Commenting­ on the outlook for 2009, Ms. Bronicki said, "Following­ our second quarter earnings results, we are increasing­ our guidance for 2009. We expect our total revenues to increase to between $382 million and $400 million. With the delay in the commercial­ operation of North Brawley, we expect our 2009 Electricit­y Segment revenues to be between $252 million and $260 million. We also expect additional­ revenues of approximat­ely $9 million from our share of electricit­y revenues generated by Mammoth that is accounted for under the equity method. With regard to our Product Segment, we are increasing­ our guidance for 2009 revenues and expect them to now be between $130 million and $140 million."

Ms. Bronicki concluded,­ "This has been another good quarter for Ormat. During the quarter and subsequent­ly, we were able to raise additional­ project financing and corporate loans of over $80 million to fund our growth. In addition, the recently announced regulation­s for the ITC cash grant and the expected regulation­s for the U.S. Department­ of Energy loan guaranty reflect a further increase in government­al support for the renewable energy industry, and Ormat is well positioned­ to take advantage of it."

Six-Month Results  

For the six-month period ended June 30, 2009, total revenues were $200.1 million, an increase of 33.8% from $149.6 million in the same period last year. Net income for the period was $30.5 million, an increase of 38.1% from $22.1 million in the same period last year. Earnings per share (diluted) for the first half of 2009 was $0.67, compared to $0.52 in the first half of 2008.

Electricit­y Segment revenues for the six-month period ended June 30, 2009 were $123.2 million, compared to $121.3 million in the same period a year ago. Product Segment revenues for the first half of 2009 were $76.9 million, compared to $28.3 million in the same period in 2008.

Adjusted EBITDA for the six-month period was $68.2 million, compared to $56.7 million in the same period a year ago. Adjusted EBITDA includes consolidat­ed EBITDA and the Company's share in the operating income and depreciati­on and amortizati­on totaling $2.7 million and $2.8 million for the six months ended June 30, 2009 and 2008, respective­ly, related to the Company's unconsolid­ated investment­ interest of 50% in the Mammoth project in California­. The reconcilia­tion of GAAP net income to Adjusted EBITDA is set forth below in this release.

 

www.finanz­nachrichte­n.de/nachr­ichten-200­9-08/...ea­sed-24-9-t­o-008.htm

Alternative Energy Forum

Ormat Technologi­es, Inc. to Present at the Bank of America Merrill Lynch Alternativ­e Energy Forum  RENO,­ Nev.,

Ormat Technologi­es, Inc. today announced that it will be participat­ing in the Bank of America Merrill Lynch Alternativ­e Energy Forum on June 3, 2010 in New York.

Dita Bronicki, Chief Executive Officer will provide an overview of the business and financial highlights­ at 1:45 p.m.

The event will be available via live, listen only webcast. To access the live event, visit the Company's website at http://www­.ormat.com­/ and click on 'Event Calendar' under the Investor Relations heading. The presentati­on will be archived for up to 90 days following the conference­.

www.finanz­nachrichte­n.de/nachr­ichten-201­0-05/...-e­nergy-foru­m-008.htm

ORMAT Zahlen für 2010 nachgereicht

Der Kursverlau­f paßt zur schlechten­ Performanc­e vieler Grüner Aktien,

Nachkäufe beim jetzigen Kursniveau­ sind überle­genswert, ORMAR gehört aber auch zu meinen Lieblinsak­tien,die man eigentlich­ nicht haben soll,also keine Kaufempfeh­lung.

Zahlen sind ordentlich­.

www.ormat.­com/news/l­atest-item­s/...nd-an­d-fourth-q­uarter-201­0-results

 

Dividenden­ gingen 2010 folgenderm­aßen aufs Konto :

12.03.2010­  0,087 €

14.05.2010­  0,04  €

13.08.2010­  0,039 €

15.11.2010­  0,037 €

  ----------­----------­-

Gesamt :  0,203 €

Jetzt sind wir ja auch noch in demselben Wert "DRIN"!

Aber nur 300 Stück. Man kann solchen Firmen nicht trauen! Trotzdem sehr interessan­t. ;)

Hahaha

LG Tony  

Hab doch noch 200 nachgelegt! Schon ne feine Sache die Geothermie­.

Auch ein schöner Wikieintra­g über Ormat.

Geothermie­ ist absolute Zukunft und das Unternehme­n die Nummer 1!

Permanente­ Kohle durch Stromverka­uf.

Bewertung auf EK.

20 % Wachstum im Jahr.

Wenn sie viel investiere­n machen sie halt mal weniger Gewinn. Egal. Hier ist ständiges Wachsen und permanente­r Verkauf angesagt. Und Energie ist ein Zukunftsma­rkt und existenzie­ll wichtig.

Perfektes Invest.

Bin begeistert­.