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Ormat Technologies (ORA) Secures New Zealand GeoThermal Contract
Last week, two subsidiaries of Ormat (ORA) secured a 20 year supply contract for a total of 42 million with Contact Energy, New Zealand’s largest geothermal power plant owner and operator as well as the country’s largest wholesaler and retailer of natural gas and liquid petroleum gas.
Said CEO Bronicki, "These contracts increase our geothermal products backlog by US$58 million for the second quarter and US$134 million since the beginning of the year, including US$50 million that is still subject to notice to proceed. We view this milestone as a demonstration of the effectiveness and reliability of Ormat’s solutions and it further reinforces the applicability of our renewable energy solutions to the world electricity markets."
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