Ormat geothermal power station (archives)
CEO Judith Bronicki
Photo: Boaz Oppenheim
Ormat to set up power plant in NZ
Israeli company specializing in geothermal energy lands $130M contract as part of Ngatamariki project
Israel-based
Ormat Technologies, which specializes in geothermal energy, has landed the biggest deal in its history.
The company has signed a $130 million contract to set up the first stage of a geothermal power station as part of the Ngatamariki project in New Zealand.
According to Ormat CEO Judith Bronicki, "Since the beginning of the year the group has more than doubled its orders, which stood at over $230 million at the beginning of the second quarter.
"Following these contracts, the group is updating its income forecast for 2011, expecting its income to total $90-100 million."
The Ngatamariki power plant will be comprised of four air-cooled Ormat Energy Converters and will allow 100% geothermal fluid reinjection, which serves both to sustain the reservoir and to produce electrical power with virtually no environmental impact.
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