Finance: Ormat and Toshiba to Share Binary/Flash Geothermal Expertise

Ormat and Toshiba Sign Strategic Collaboration Agreement (News Release)

Collaboration Expected to Increase Geothermal Market Opportunities to Support Future Growth

Ormat Technologies Inc. and Toshiba Corporation announced today that the two companies have signed a strategic collaboration agreement (SCA) to develop strategic opportunities for collaboration in the areas of geothermal power generation systems and related equipment.

Under the terms of the agreement, the parties will explore and develop strategic opportunities that will enable them to offer potential customers a more competitive solution for comprehensive supplies and services related to geothermal developments, from resource assessment, field development, power plant engineering, procurement and construction (EPC) to power plant operation.

The first project expected to be implemented under this collaboration is the Menengai geothermal project in Kenya to be constructed and operated by the Ormat - Symbion Power LLC - Civicon Ltd Consortium, majority owned by Ormat. The parties have already initiated negotiations on the supply agreement and the plant design is at an advanced stage.

The parties are actively analyzing global prospects for upcoming and potential projects in which they can jointly submit applications for geothermal power plants utilizing a geothermal solution consisting of Ormat’s binary system and Toshiba’s flash system.

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