Ngatamariki geothermal project goes to Ormat

Ormat Technologies, the US arm of Yavne-based Ormat Industries Ltd, which is involved in the harnessing of clean, renewable thermal energy which can then be turned into electricity, won a US$130 million order in New Zealand earlier this month, this being the largest order yet placed with Ormat.  The New Zealand partner in this deal is the Mighty River Power Ltd, for which Ormat is carrying out the first stage of the Ngatamariki geothermal project.

Ormat’s order book, at the beginning of the second quarter, stands at a little more than US$230 million.

Source: “Ormat Soars Most on Record as Unit Gets $130 Million Order”, Bloomberg, 9 June 2011

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