Ormat Technologies (ORA) is falling more than 7% in heavy volume this morning after it cut its revenue forecasts for 2012 and 2013 due to changes in power purchase agreements for its Heber, Ormesa and Mammoth geothermal plants in California. The company initially thought that the new pricing would have a smaller impact on revenues resulting in a reduction of $9.5 and $6.5 million over the next two years. However, as a result of falling … Read the rest
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Ormat Technologies (ORA) Lands $65 Million EPC Geothermal Contract
Ormat Technologies (ORA) announced today that it landed a $65 million EPC contract with Cyrq Energy for a geothermal project in New Mexico. The contract work is scheduled to be released in stages based on progress and development of the well. In addition Ormat will provide financing for the project not to exceed $66 million. The project is expected to come online within two years.
::: Click Here For Your FREE Daily Ormat Technical Analysis… Read the rest
Ormat (ORA) & Nevada Geothermal (NGLPF) To Partner On Crump Geyser Project In Oregon
I forgot to get this out yesterday, but it was announced that Nevada Geothermal Power (OTCBB: NGLPF) and Ormat Nevada Inc., a wholly-owned subsidiary of Ormat Technologies (ORA) signed an agreement letter to jointly develop and own under a LLC company one or more geothermal power plants at the Crump Geyser Project in Lake Country, Oregon. The 50/50 joint venture plans to begin construction and drill at least one development well for the first power … Read the rest
Ormat (ORA) To Build Raser Technologies (RZ) Lightning Dock Geothermal Project
Raser Technologies (RZ) technologies has announced this morning that Ormat (ORA) will provide engineering, procurement and construction services for its Lightning Dock geothermal project in New Mexico. Ormat will also provide the equipment which includes two larget Ormat binary generators and all above ground equipment.
====> Click Here For Your FREE Daily RZ Technical Analysis
“We are excited to work with a veteran in the geothermal business,” said Project Manager Mike Hayter. “Ormat is … Read the rest
Jefferies Bullish On Green Stocks: Buy JASO, YGE, TSL, ITRI, ENS, AMSC; Hold FSLR, CSIQ, SOLF, SPWRA, STP, WFR, ORA
Jesse Pichel, who was formerly at Piper Jaffray, is now at Jefferies and initiating coverage on many green stocks. Hat tip to Street Insider for the ratings.
Buy Rating:
JA Solar (JASO) – $8 price target
Yingli Green Energy (YGE) – $15 price target
Trina Solar (TSL) – $35 price target
Itron (ITRI) – $74 price target
EnerSys (ENS) – $28 price target
American Superconductor (AMSC) – $35 price target
EnerNOC (ENOC) – $38 price … Read the rest
Ormat Technologies (ORA) Puna Geothermal Plant Back At Full Production, Insiders Buying
Ormat Technologies (ORA) today announced that its subsidiary, Puna Geothermal Venture completed the drilling and the mechanical cleaning of the production wells at the Puna Geothermal Power Plant located on the Big Island, Hawaii. The plant is now back at full production.
Shares of ORA are up nearly 2% today and sure look compelling down here. Over the last several weeks, the Israeli parent company Ormat Industries, has been buying up shares left and right.… Read the rest
Today’s Analyst Roundup: WFR, FSYS, ORA, ERII, JASO, TSL, ABB, ELON, RBCN
Another wild day and I’m busy watching the market and getting behind on green stocks updates! Lots of analyst rating changes today..
Wunderlich Securities upgraded MEMC Electronic Materials (WFR) from Hold to Buy. Shares of WFR of doing a decent job of holding all time lows despite being hammered after earnings and during yesterday’s market crash. Get a Free WFR trend analysis here.
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Craig-Hallum downgrades Fuel Systems Solutions (FSYS) Buy to Accumulate and slashed … Read the rest
Ormat Tech (ORA) Beats, Expects Stronger 2nd Half
Ormat Tech (ORA), the geothermal giant, beat Wall ST estimates on both the EPS and revenue side this morning. The company reported an EPS 1 cent better than estimates at .04/share and revenues about $5 million higher than estimates at $82.7 million. While the company beat low expectations, that’s a big haircut on the EPS side from the year ago quarter when the company posted .28/share. Revenues declined about 20%.
Ormat (ORA) Acquires Geothermal Development In Nevada
Ormat has just announced that its wholly-owned subsidiary, Ormat Nevada Inc, has acquired HSS II LLC. Financial details were not disclosed, but the purchase includes the Hot Sulphur Springs Geothermal Project in NE Nevada. The project is almost fully developed and has a successful well. Nevada Power Company has signed a 20 year power purchase agreement to buy the power that the Hot Sulphur Springs Geothermal Project produces once it is complete.
In a , … Read the rest
2010 Alternative Energy Forecast
By Jeff Siegel of GreenChipStocks.com
Get your Free Cleantech Report Today!
In the 1973 movie Papillon (adapted from the 1969 French novel by Henri Charriere), there’s a scene where Papillon is considering jumping off a cliff to escape the island on which he is being imprisoned. His friend Dega says, “It seems so desperate. You think it will work?”
And Papillon replies, “Does it matter?”
Papillon had two options: Stay on the island and … Read the rest