June 8th, 2005
Ormat Receives $9 Million Contract for Waste Heat-to-Energy Conversion Facility
Ormat Technologies, Inc. (NYSE:ORA) has reported another
contract win for its ORMAT Recovered Energy Generation (REG) power plant. This time it is with a pipeline company located
in Western Canada. The new power plant will recover waste heat from a gas turbine on one of the company's pipelines and convert
the wasted heat to 5 megawatts of electrical power. In turn, the pipeline company will sell the electricity back to the local
Utility.
Lucien Y. Bronicki, CTO and COB at Ormat Technologies,
with the release of the announcement, listed the Ormat’s recent successes in the recovered energy market, "This agreement
provides further validation of the importance of recovered energy, a market with high growth potential. The agreement marks
ORMAT's third achievement in recovered energy this year. As previously announced, Ormat had entered into a power purchase
agreement to supply 22 MW from recovered energy generation plants in North and South Dakota, and separately, entered into
a letter of intent to provide a 4.95 MW facility to a utility in the Northwestern United States. We are very pleased with
our progress on this area."
