August 1, 2011
Ormat Completes Its First Commercial Evaporative Cooling System in a Geothermal Power Plant
RENO, Nev., Aug. 1, 2011 /PRNewswire/ -- Ormat Technologies, Inc. (NYSE: ORA) announced today that it has completed the modification of the 20MW Burdette (Galena1) power plant into an Evaporative Cooling configuration.
Evaporative cooling allows increasing power generation from air cooled facilities by as much as 30% during the hot hours of the day.
The implementation of this system in the moderate to dry climates, especially in the High Desert, generates more energy per year than water cooled systems with a fraction of the water and chemical consumption of a traditional water cooled system.
From the consumer's side the implementation of this system further increase the value of geothermal energy as it increases the available energy to the grid at "Summer Peak", the hours of high demand, while maintaining it smooth and predictable dispatch curve which is not affected by temporary cloud coverage or changes to the wind regime.
Ormat currently operates approximately 180 MW in suitable climates and expects to add another 60MW in the near future. Ormat plans to implement the learning from the operation of the Burdette plant both in its existing fleet and in future installations.
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 80 U.S. patents. Ormat has engineered and built power plants, that it currently owns or has supplied to utilities and developers worldwide, totaling approximately 1370 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, Jersey Valley, 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 February 28, 2011.
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 Todd Fromer / Rob Fink CEO KCSA Strategic Communications 775-356-9029 212-896-1215 (Todd) /212-896-1206(Rob) [email protected] [email protected][email protected]
SOURCE Ormat Technologies, Inc.