Wednesday, November 4, 2015

USA, Nevada: Ormat Looking for Energy Storage Opportunities

Ormat Eyeing Storage M&A for Geothermal Projects (Renewable Energy World)

Reno, Nevada-based Ormat Technologies is seeking mergers and acquisitions that will help the company enhance its geothermal projects with energy storage technologies, Ormat CEO Isaac Angel said on November 4.

“On the storage solutions side, we are progressing well,” Angle said during a 3Q15 earnings webcast. “I’m very optimistic that we will be able to add a lot of MW … and profitability to our existing power plants.”

Angle said that he also is optimistic that the company will secure a deal soon that will initiate Ormat’s energy storage strategy. “We’re almost there,” he said.

According to Angel, Ormat also plans to expand its strategy to include project opportunities that have solar energy as part of a “blended solution.”

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