Tuesday, May 7, 2019

USA, Hawaii: Puna Geothermal Resource is Warmer Than Before - Ormat CEO

Ormat Technologies Inc (ORA) Q1 2019 Earnings Call Transcript (Motley Fool)

Isaac Angel -- Chief Executive Officer. "We continue to make progress in the efforts to bring the plant back online with the target of resuming operation by the end of the year. We are currently removing the plugs from the production wells and mobilizing large rig to the island to help with the drilling of additional wells and fixing existing wells if required, and we are progressing with the building of the electrical substation. As a vertically integrated company, we have the unique advantage of controlling the entire value chain of geothermal development. This will help us bring Puna on lime."

"The injections were not flat in the first place and they are operational and out of the production well. When the power plant became in-operational, there were, if I recall right between three to four production wells, providing 38 megawatts with two of them providing the majority of the flow, and those are the wells that we are unplugging right now and very, very soon we will know how this is progressing. One thing we know for sure -- again for sure is an estimation that resource as it is, is warmer than it was before and it is there because we are monitoring the injection wells all the time. Now we have to unplug those three or four wells, it will take us some time, but we are optimistic as I said before that we will be -- as we are working in parallel, we will be operational by the end of this year."

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