Ormat Technologies, Inc. (Ormat) is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal recovered energy-based power plants, usually using equipment that it designs and manufactures. Ormat conducts its activities in two business segments: Electricity Segment and Product Segment. In the Electricity Segment, the Company develops, builds, owns and operates geothermal and recovered energy-based power plants in the United States and geothermal power plants in other countries worldwide, and sells the electricity they generate. In the Product Segment, Ormat designs, manufactures and sells equipment for geothermal and recovered energy-based electricity generation, remote power units and other power generating units, and provides services relating to the engineering, procurement, construction, operation and maintenance of geothermal and recovered energy power plants. In February 2010, the Company acquired Tuscarora Project. In March 2010, the Company’s wholly owned subsidiary, Ormat Nevada Inc., completed its acquisition of interests in the Hot Sulphur Springs II LLC (HSS), which includes the Tuscarora project.
Power Generation Business
As of December 31, 2009, the Company owned and operated power plants, which included Ormesa Complex, Heber Complex, North Brawley, Steamboat Complex, Brady Complex, Puna, OREG 1, OREG 2, Peetz, Momotombo, Zunil, Olkaria III Complex and Amatitlan. The Company controls and operates the Momotombo power plant in Nicaragua through a concession arrangement with the Nicaraguan Government, and the Mammoth complex, in which it has a 50% ownership interest. The Company has various leases and concessions for geothermal resources of approximately 290,000 acres in 22 sites.
Discussion
No comments yet.