USA:

Ormat Technologies' CEO Isaac Angel on Q2 2015 Results - Earnings Call Transcript (Seeking Alpha)

Projects are expected to add between 90 and 115 MW by the end of 2017

Ormat Technologies Inc. CEO Isaac Angel 

We are on track with the construction of Don Campbell Phase 2 in Nevada and are expecting it online towards the end of this year. In Olkaria, Kenya, we are on schedule with the construction of the 24 megawatt expansion. The fourth plant is expected to bring the complex generation capacity to 134 megawatts and the commercial operation is expected in the second half of 2016.

And with regards to Sarulla, Indonesia, engineering, procurement and construction are in progress and infrastructure work has been completed. The construction has successfully drilled part of the plant production wells and drilling of additional production and injection wells is underway. The first phase is expected to commence operation in the second half of 2016 and the remaining two phases are scheduled to commence within 18 months thereafter.

The market opportunity in the U.S. was further reinforced yesterday when President Obama announced the U.S. Environment Protection Agency’s final Clean Power Plan. The plan will catch U.S. carbon pollution from the power sector by 870 million tons or 32% below 2005 levels in 2030. While power plants are responsible for approximately one-third of all carbon dioxide emissions in the United States, there were no nation limits on carbon pollution until today.


The plan is expect to drive more aggressive investment in clean energy technologies, placing a significant emphasize on the renewable energy resources aimed at cutting wasted energy, improving efficiency and reducing pollution. Under the plan states are required identify tax forward [ph] using either current or new electricity production and pollution control policies to meet the goals of the program. The compliance period begins in 2022, which gives states and utilities seven years for planning and early implementation. We expect that this plan will benefit renewable resource developers and will further support our initiatives to pursue our multiyear plan.

Another encouraging development in the United States, two weeks ago, the Senate tax-writing committee passed a bill extending the PTC for geothermal projects that will being construction by 2016 and commencing operation by 2018. The legislation needs to pass the House and the full Senate to become a law. If passes, we anticipate a number of projects to benefit from this legislation. The acknowledgement of renewable benefit and regulation support, as well as the energy shortage in many of the developing countries create opportunities for Ormat.

Read More........