Israel:

Ormat Industries posts loss on power plant write-down  (Reuters)

Ormat Industries moved to a loss in the second quarter despite higher revenue due to the writedown in the value of a U.S. power plant.

Ormat said on Wednesday it posted a quarterly net loss of $1.6 million, compared with a profit of $7.6 million a year earlier. Revenue grew to $129.8 million from $106.3 million boosted by higher sales of electricity and of products.

The company posted an $18 million loss in the quarter due to the decline in the value of its North Brawley geothermal plant in the Imperial Valley, California, which has not yet reached full output.