Last $27.26 USD
Change Today -0.08 / -0.29%
Volume 82.6K
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ormat technologies inc (ORA) Snapshot

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52 Week High
03/28/14 - $30.46
52 Week Low
08/6/14 - $24.15
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ormat technologies inc (ORA) Details

Ormat Technologies, Inc. is engaged in the geothermal and recovered energy power business worldwide. The company operates in two segments, Electricity and Product. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants; and sells electricity. As of February 25, 2014, it operated power plants with a net generating portfolio of 626 megawatts in the United States, Guatemala, and Kenya. The Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation; fossil fuel powered turbo-generators; and heavy duty direct-current generators. It also provides services relating to the engineering, procurement, construction, operation, and maintenance of geothermal and recovered energy-based power plants. This segment serves contractors and geothermal power plant owners and operators; and interstate natural gas pipeline owners and operators, gas processing plant owners and operators, cement plant owners and operators, and companies in other energy-intensive industrial processes. The company was founded in 1965 and is based in Reno, Nevada. Ormat Technologies, Inc. is a subsidiary of Ormat Industries Ltd.

1,123 Employees
Last Reported Date: 02/28/14
Founded in 1972

ormat technologies inc (ORA) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: $263.5K
Executive Vice President of Project Managemen...
Total Annual Compensation: $227.2K
Executive Vice-President of Marketing & Sales...
Total Annual Compensation: $214.3K
Part-Time Advisor To Chief Executive Officer
Total Annual Compensation: $286.5K
Compensation as of Fiscal Year 2013.

ormat technologies inc (ORA) Key Developments

Ormat to Expand Olkaria III Geothermal Complex in Kenya by 24 MW

Ormat Technologies Inc. announced its subsidiary has signed an amended and restated Power Purchase Agreement with Kenya Power and Lighting Company Limited (KPLC), paving the way for the expansion of the Olkaria complex. Under the terms of the PPA, Ormat expects to increase the generating capacity of the complex by 24 MW, bringing the complex's total capacity to 134 MW. The fourth plant is expected to come on line in the second half of 2016 and to sell electricity under a 20 years PPA with KPLC.

Ormat Technologies' Subsidiary Signs PPA and PISSA for 35MW Menengai Geothermal Project in Kenya

Ormat Technologies Inc. has announced that its Kenyan subsidiary has signed a 25-year power purchase agreement, or PPA, with Kenya Power and Lighting Co. Ltd, or KPLC, and a project implementation and steam supply agreement, or PISSA, with Geothermal Development Company, or GDC, for the 35MW Menengai geothermal project in Kenya. Under the PISSA agreement, the project company will finance, design, construct, install, operate and maintain the Menengai steam plant on a build-own-operate (BOO) basis for 25 years. GDC will develop the geothermal resource, supply the steam for conversion to electricity and maintain the geothermal field through the term of the agreement. Under the PPA, KPLC will purchase all the energy generated by the project. The Menengai project is expected to benefit from the Partial Risk Guarantee (PRG) arrangement to be provided by the African Development Bank. Moreover, this project is part of the Power Africa initiative promoted by the US Government.

Ormat Industries Ltd., Ormat Technologies Inc. - M&A Call

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