Ormat Technologies, Inc. Provides Operational Update on North Brawley Power Plant
RENO, Nev., Feb. 1, 2011 /PRNewswire/ — Ormat Technologies, Inc. (NYSE: ORA) today announced that sustainable output from the North Brawley power plant has increased from 25 MW to more than 30 MW as a result of expanded injection capacity that was recently brought on-line.
Injection tie-in lines and related equipment were recently commissioned at the project following construction work undertaken during the fourth quarter of 2010 to open up a new injection area east of the existing field.
It is expected that output will increase further as additional production is brought on line; however, testing after one month indicates that injection is still limited at the power plant The Company is continuing to evaluate the new injection system and is considering further steps to increase the generation capacity.
Additional information regarding the operational aspects of the North Brawley power plant will be provided in the company upcoming annual report and on the fourth quarter and full year 2010 results conference call scheduled for February 23, 2011.
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, OREG 3 and OREG 4; 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 212-896-1236/212-896-1206 firstname.lastname@example.org email@example.com/rfink@kcsa@com
SOURCE Ormat Technologies, Inc.