How fast countries support businesses and award tenders for solar power plants and wind turbines depends not only on governments but the corporate funding mechanisms in place and the people who want to support green energy.
The New York Stock Exchange-traded company Ormat Technologies (NYSE:ORA) has built what’s being cited as the world’s largest geothermal plant.
Given that 85 percent of the country’s residents lack access to electricity, it is no surprise that Ethiopia has pursued an aggressive hydropower plan. But the Grand Renaissance Dam and similar projects are expected to create significant environmental and social disruptions, problems that the former President Meles Zenawi both denied and defied. But the Ethiopian […]
MENA Geothermal has completed the largest geothermal heating and cooling system in the Middle East and North Africa. Completed in August, 2012, the new and deeply clean energy system at the American University of Madaba (AUM) in Jordan has a total cooling load of 1680 kW and a heating load of 1350 kW, which is enough […]
Earlier this year Cornell and Technion, Israel Institute for Technology won the privilege of developing a new tech campus and incubator on Roosevelt Island in New York City. Starchitects Skidmore, Owings, Merril (SOM) won the design competition and now plans are underway to turn the entire island into an enormous super-green net-zero energy campus complete with […]
Saudi Arabia is looking to continue to ensure their promises of bolstering the Gulf Kingdom’s alternative energy is maintained. This month, Masdar CEO Sultan Ahmed al-Jaber said publicly that his United Arab Emirates-based company is discussing potential investments in Saudi, and will likely be focusing on solar energy. For Masdar, which has boosted its clean […]
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 […]
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 geothermal industry – one which uses heat from the earth’s crust to generate power. […]
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 humorous speech, Al-Sabawi detailed the many benefits that geothermal energy has to offer his native […]
Installation of a planned 20 GW of solar over the next 20 years will catapult Saudi Arabia to world leadership in solar Saudi Arabia has set a staggering national goal to have 20 GW (20,000MW) of solar generation installed over the next twenty years, according to Saudi officials speaking to CSP Today. Although there have […]
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 was among the companies and subsidiaries of foreign-held companies that submitted bids to explore for […]
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 may be outlawed. General Atlantic is in talks to acquire a stake in irrigation systems […]
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 vertically integrated geothermal energy and waste heat recovery specialist. Working with the US Department of […]
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, […]
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 plants and Eilat-Eilot has been chosen to by the Ministry of Industry, Trade and Labor […]
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 […]
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 […]