RENO, Nev., Oct. 5 /PRNewswire-FirstCall/ -- Ormat Technologies, Inc.
(NYSE: ORA) announced today the successful completion of the Steamboat 2/3
upgrade project. The upgrade included the replacement of the 4 Rotoflow
centrifugal expenders originally installed at these plants with direct drive
gearless 11 MW axial turbines each designed and manufactured by Ormat
specifically for geothermal use.
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"With the completion of this project with field proven turbines we expect
to see major improvement in performance and availability of the two facilities
which have been plagued with high maintenance costs and low run time of these
turbines for most of their operating history," said Yoram Bronicki, President
and Chief Operating Officer of Ormat Technologies. "This project is another
demonstration of Ormat's unique capabilities, enabling us to complete the
re-powering of an operating facility with limited downtime to the old
equipment."
About Ormat Technologies
Ormat Technologies, Inc. is the only vertically-integrated company
primarily engaged in the geothermal and recovered energy power business. The
Company designs, develops, owns and operates geothermal and recovered
energy-based power plants around the world. Additionally, the Company designs,
manufactures and sells geothermal and recovered energy power units and other
power-generating equipment, and provides related services. The Company has
more than four decades of experience in the development of
environmentally-sound power, primarily in geothermal and recovered-energy
generation. Ormat products and systems are covered by more than 75 patents.
Ormat currently operates the following geothermal and recovered energy-based
power plants: in the United States - Brady, Heber, Mammoth, Ormesa, Puna,
Steamboat and OREG 1; in Guatemala - Zunil and Amatitlan; in Kenya - Olkaria;
and in Nicaragua - Momotombo.
Safe Harbor Statement
Information provided in this press release may contain statements relating
to current expectations, estimates, forecasts and projections about future
events that are "forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
generally relate to Ormat's plans, objectives and expectations for future
operations and are based upon its management's current estimates and
projections of future results or trends. Actual future results may differ
materially from those projected as a result of certain risks and
uncertainties. For a discussion of such risks and uncertainties, see "Risk
Factors" as described in Ormat Technologies, Inc.'s Annual Report on Form 10-K
filed with the Securities and Exchange Commission on March 5, 2008.
These forward-looking statements are made only as of the date hereof, and
we undertake no obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise.
Ormat Technologies Contact: Investor Relations Contact:
Dita Bronicki Todd Fromer / Marybeth Csaby
CEO KCSA Strategic Communications
775-356-9029 212-896-1215/212-896-1236
dbronicki@ormat.comtfromer@kcsa.com/mcsaby@kcsa.comSOURCE Ormat Technologies, Inc.
Contact: Dita Bronicki of Ormat Technologies, Inc., CEO, +1-775-356-9029, dbronicki@ormat.com; or Investors, Todd Fromer, +1-212-896-1215, tfromer@kcsa.com, or Marybeth Csaby, +1-212-896-1236, mcsaby@kcsa.com, both of KCSA Strategic Communications for Ormat Technologies, Inc.