The company aims to expand into solar and other renewable technologies while finding new markets and customers.
At an investor conference in New York at the end of March, Ormat Technologies CEO Isaac Angel said Ormat was widening its portfolio of technologies and the number of countries in which it operates, and expanding its customer base. Angel’s goal is to increase revenues from non-geothermal technology to 25% of the total from 10% today.
To move quickly into other segments of the renewable energy business, Ormat plans to develop technology in-house and make acquisitions. The company is eyeing opportunities in solar power as well as hybrid renewable energy and what it describes as “the next big wave in renewable energy” — energy storage.
