No Major Damage to Ormat’s Amatitlan Power Plant Resulting From Guatemalan Volcanic Eruption
RENO, Nev., June 1 /PRNewswire-FirstCall/ — Ormat Technologies, Inc. (NYSE: ORA) today announced that due to the May 28 volcanic eruption of Volcano De Pacaya in Guatemala its 20MW Amatitlan power plant was temporarily shut down in order to safeguard equipment. We are pleased to report there were no injuries to plant’s staff. Preliminary inspection shows no substantial equipment damage; however, the plant will require a thorough clean up prior to restarting.
Lucien Bronicki chairman of Ormat said, “Our concern and thoughts are with the refugees and adjacent communities of San Francisco de Sales, San Jose Caldera, El Cedro, and El Bejucal. Many homes were damaged and many people in these communities were severely impacted by the eruption.”
The Company is in the process of assessing how long it will take to clean the equipment and repair minor damage in order to bring the power plant back on line.
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 75 U.S. patents. Ormat has engineered and built power plants, that it currently owns or has supplied to utilities and developers worldwide, totaling approximately 1300 MW of gross capacity. Ormat’s current generating portfolio includes the following geothermal and recovered energy-based power plants: in the United States – Brady, Brawley, Heber, Mammoth, Ormesa, Puna, Steamboat, OREG 1, OREG 2 and Peetz; in Guatemala – Zunil and Amatitlan; in Kenya – Olkaria III; 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 8, 2010.
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: Investor Relations Contact: Dita Bronicki Marybeth Csaby/Rob Fink CEO KCSA Strategic Communications 775-356-9029 212-896-1236 (Marybeth)/212-896-1206 (Rob) firstname.lastname@example.org email@example.com/ firstname.lastname@example.org
SOURCE Ormat Technologies, Inc.