The highlights for the year and recent 2013 developments:
- Total revenues increased 17.7 percent for the year to $514.4 million;
- Product segment revenues increased 65.1 percent to a record of $186.9 million with a record backlog of $262.0 million as of February 15, 2013, 9 percent over last year;
- Electricity generation increased by 7.3 percent with the addition of 51 MWe from Tuscarora and McGinness Hills which became commercial in January 2012 and July 2012, respectively;
- Adjusted EBITDA increased 11.5 percent to $185.8 million;
- Obtained favorable financing for Olkaria III Plant 1 and Plant 2 currently under construction and secured financing for the expected construction of Plant 3;
- Received $35.7 million in a tax equity transaction; and
- Recorded an impairment charge of $229.1 million relating to the North Brawley power plant which resulted in a net loss of $206.7 million in the year.
