How geothermal energy wells look, and work. Image via Academic.evergreen
With contacts and plants in place around the world, Ormat founded in Israel and headquartered in the US, reports that its geothermal plant in Guatemala has sustained volcano and then tropical storm damage. Ormat which is traded on the Tel Aviv Stock Exchange (TASE: ORMT) and on the New York Stock Exchange (NYSE: ORA) told the Israeli paper Globes that the Tropical Storm Agatha damaged the plant’s heat gathering system.
Geothermal energy collection works by taking the energy given off by the earth’s crust and converting into mechanical energy (see above). According to the media report, Ormat said that most of its wells can be re-connected to the 20 megawatt plant and that operation, at least partial operation, will resume quickly. The company is now talking to its insurance company over payments for losses incurred. Thankfully, no personnel were injured at the plant, the Penn Energy news site reports.