Three geothermal projects totaling 113 MW from Israel’s geothermal giant Ormat got approvals just in time to get US government support under the Recovery Act Section 1705 loan guarantee this week. Nevada has some of the best geothermal potential among the US states, but has barely begun to develop it: the 113 MW will increase Nevada’s geothermal power production by nearly 25%.
Under the same program as Solyndra if Ormat Nevada Inc could line up an investor with up private financing by September 30th, under Section 1705, the US Department of Energy would provide a US government guarantee to back the loan in the unlikely event that Ormat was not able to repay its investors.
However the loan guarantee has been anathema to the party that now controls the US congress (Utility-Scale Renewable Projects Become a Casualty of Republican Hostage-Taking) and will end this week.
The US subsidiary of the Israeli company lands the largest geothermal deal in New Zealand, with Maoris. Geothermal heats up in New Zealand: Ormat has told the Israeli business newspaper Globes that it has developed its biggest deal yet in…
The University of Madaba’s geothermal system, the largest in the Middle East Khaled Al-Sabawi, founder and president of Palestinian green energy pioneers MENA Geothermal, was one of the speakers at this spring’s much-publicised TEDx Ramallah conference. In an engaging and…
Until this year, Chile’s renewable energy standard required only 3.5% of clean electricity by 2020. This year, they raised it to 20%. Now they are swamped with geothermal bids. Ormat Technologies Inc ((NYSE: ORA) South American subsidiary Ormat Andina Energia Ltd…
Ormat’s Waste Heat Recovery solution, hunger in Africa, fighting desertification and more headlines related to Israeli cleantech and the environment. As part of Israel’s plan to reduce energy use by 20%, new televisions and computer monitors that aren’t energy efficient…
Israeli geothermal energy company Ormat is soaking up excess energy from an oil field in Wyoming. One of the most interesting of the US Recovery Act geothermal funding recipients – it received $4.5 Million – is Ormat Industries, the Israel-based…
A slow recovery in the global cleantech sector has left many Israeli companies without VC funding and media coverage, while BrightSource Energy and Ormat Technologies continue to thrive. The decrease in VC investments in cleantech companies over the past year…
Non drip tomatoes, latest Dead Sea trouble, Ormat in the US and more headlines related to Israeli cleantech and the environment. Israel’s government is getting serious about ending global oil dependency by 2020. Ormat Technologies has secured funding for geothermal…
Ormat plans to harvest more power from the depths of the earth with additional funding from the US Dept. of Treasury. Despite failing to meet market expectations when its Q2 results were presented in August, the geothermal power company Ormat…
Despite low 2nd quarter earnings, Ormat has secured $350 million in loan guarantees to develop renewable, geothermal energy plants Israeli-founded geothermal power company Ormat Technologies (NYSE: ORA) failed to meet the market’s expectations when the company presented its results for…
