Tuesday, February 24, 2015

USA, Nevada:

Ormat Technologies Reports Record Revenues (Marketwatch - News Release)

GRC Company Member Ormat Technologies, Inc. today announced financial results for the fourth quarter and full year ended December 31, 2014 including total revenues of $559.5 million in 2014, an increase of 4.9% from 2013.

Isaac Angel, chief executive officer of Ormat, stated, "We enter 2015 with a healthy balance sheet, a strong pipeline, a balanced portfolio of operational and emerging projects around the world, strengthened by the contribution of the Don A. Campbell, Olkaria – Plant 3, and the recent initial operation of phase 2 of our McGinness Hills plant. This year, we will build upon the strong operating results within our electricity segment as we begin work on phase 2 of our Don A. Campbell plant, which we expect to complete by Q1 2016."

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