Ormat Rising Stocks A Boon For Israel Geothermal

For years, the goldmine for Israeli cleantech companies has been the American economy. And as Israel deploys innovative technologies across the Atlantic, it is increasingly breaking ground and gaining profits ahead of American companies. Just last week, shares of the Reno, Nevada-based unit of Israeli geothermal company, Ormat Technologies (NYSE: ORA), rose more than 2.7 […]

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Ormat Gets DOE “Solyndra” Loan Before Tea Party Shuts Down Program

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.

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Global Investment Plummet Hits Israeli Cleantech Companies… Except BrightSource and Ormat

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 and in particular Q3 is raising questions about the cleantech industry’s recovery. According to NASDAQ, […]

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Ormat Technologies Secures US Funds For Geothermal Plants

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 Technologies managed to secure an additional $108 million funding, according to the Israeli business daily […]

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Ormat Geothermal Reports $1.5 Million Loss

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 Q2: a $1.5 million loss was reported, resulting in a $0.03 loss per share. Most […]