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Corporation
ENERGY & UTILITIES | Renewables / Geothermal
ormat.com

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Founded Year

1965

Stage

IPO | IPO

Date of IPO

11/11/2004

Market Cap

4.37B

Stock Price

75.34

About Ormat Technologies

Ormat Technologies (NYSE: ORA) is a global geothermal and renewable energy company The company owns, operates, designs, manufactures, and sells geothermal and REG power plants primarily based on the Ormat Energy Converter - a power generation unit that converts low-, medium-, and high-temperature heat into electricity. The company has engineered, manufactured, and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling over 2,000 MW of gross capacity. Ormat's 710 MW generating portfolio is spread globally in the U.S., Guadeloupe, Guatemala, and Kenya.

Ormat Technologies Headquarter Location

6225 Neil Road Suite 300

Reno, Nevada, 89511,

United States

775-356-9029

Latest Ormat Technologies News

Geothermal: Renewable Energy’s Rising Star

Jan 19, 2022

CleanTechnica By 5 mins ago Among numerous highlights in the National Renewable Energy Laboratory’s recently published  Geothermal Power Production and District Heating Market Report , one in particular stands out: since 2019, 11 new geothermal power purchase agreements have been signed across four states. This is a big deal in renewable energy circles, but why should it matter to us, the energy consumers across the country? Geothermal PPAs signed from November 2019 through September 2020. The new PPAs serve the California market, with one apiece in Utah, Alaska, and Hawaii. Image courtesy of NREL. Geothermal PPAs signed from November 2019 through September 2020. The new PPAs serve the California market, with one apiece in Utah, Alaska, and Hawaii. Image courtesy of NREL. Power purchase agreements are the contracts that allow utilities to procure electricity from power plants. These agreements help determine how much you ultimately pay for the electricity that charges your phone, fires up your television on game day, lights your home, and, in general, powers your life. Let’s start at the beginning… Let’s start at the beginning… A Star is Born Any electricity delivered to your home has its origins in a power purchase agreement (PPA). A PPA is a contractual agreement between a power plant operator (seller) and a utility (purchaser). PPAs make electricity prices predictable by locking them in place for the duration of the contract term, which typically lasts 15-25 years. This arrangement benefits both sellers and buyers. Sellers can more easily secure funding from lenders because they can prove, with their PPA, that they will have a steady revenue stream for years to come. Buyers can plan long-term operations without worrying about price fluctuations. [1] A utility company will negotiate the PPA pricing and terms on behalf of their customers (that’s YOU). Utilities have to weigh several factors when negotiating a PPA, including the type of the power source, renewable portfolio standards, and greenhouse gas emissions reduction mandates. The Bulk Power System, often referred to as “the grid,” is a large, complex, interconnected electrical system made of up of generation and transmission facilities and their control systems. Shown here are energy markets in the western U.S. that collective One prominent example of geothermal-powered electricity delivered through a PPA is the  Northern Nevada Geothermal Portfolio Project , a network of geothermal facilities that deliver 150 megawatts of electricity to Los Angeles—enough to power more than 200,000 homes. This project, which operates under a 2017 PPA signed with the Southern California Public Power Authority, is one of several examples of geothermal plants in Nevada that deliver electrical power to neighboring California, helping to meet the enormous energy requirements of the world’s fifth largest economy. Other examples of current geothermal power PPAs include Southern California Edison’s multiple agreements with Calpine and Ormat Technologies, which draw from geothermal plants in both California and Nevada; the Salt River Project’s PPA with Enel Green Power in Utah; and Nevada Energy’s agreements with AltaRock Energy and Ormat, which include a legacy PPA with U.S. Geothermal dating to 2012 (U.S. Geothermal was acquired by Ormat in 2018). Renewable energy projects can’t get off the ground without PPAs, so when a new geothermal PPA gets signed, a geothermal star is born… Stay tuned for the next chapter: “Geothermal Takes the Stage.”

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Ormat Technologies Patents

Ormat Technologies has filed 56 patents.

The 3 most popular patent topics include:

  • Energy conversion
  • Cooling technology
  • Heat exchangers
patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/19/2018

12/22/2020

Fluid dynamics, Aerodynamics, Cooling technology, Heat exchangers, Clusters of differentiation

Grant

Application Date

3/19/2018

Grant Date

12/22/2020

Title

Related Topics

Fluid dynamics, Aerodynamics, Cooling technology, Heat exchangers, Clusters of differentiation

Status

Grant

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