Ormat Technologies (NYSE: ORA)
Ormat Technologies Return vs. S&P
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Ormat Technologies Company Info
Ormat Technologies, Inc. operates as a holding company. The firm engages in the geothermal and recovered energy power businesses. It operates through the following segments: Electricity, Product and Energy Storage. The Electricity segment focuses on the sale of electricity from the company's power plants pursuant to power purchase agreements. The Product segment involves the manufacture, including design and development, of turbines and power units for the supply of electrical energy and in the associated construction of power plants utilizing the power units manufactured by the company to supply energy from geothermal fields and other alternative energy sources. The Energy Storage segment consists of battery energy storage systems as a service and management of curtailable customer loads under contracts with U.S. retail energy providers and directly with large commercial and industrial customers. The company was founded in 1965 and is headquartered in Reno, NV.
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Ormat Technologies' Electricity Growth Covers for Weaker Product Sales in Q3
Ormat's product business is a feast or famine business that has hit some lean times. Luckily, its growing base of geothermal power installations helped to make up for the weaker results.
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