Friday, November 8, 2019

USA, Nevada: Ormat Working on New Opportunities in New Zealand, Indonesia and the Philippines

Ormat Technologies, Inc. 2019 Q3 - Results - Earnings Call Transcript (Nasdaq)

Isaac Angel -- Chief Executive Officer: "We continue to see opportunities in Turkey but recent trends of U.S. sanctions and economy and the straining of U.S. Turkey diplomatic relation may impact potential demand and price competitiveness and the result we may see continuation of the slowdown in the Turkish market.

We are working on new opportunity in New Zealand, Indonesia and the Philippines to diversify and grow out. As we discussed in previous call the New Zealand market remains a stable and attractive market for growth that we are excited to expand our presence in. The Philippines currently have geothermal field supply about 10% of commissions energy with the long-term plan to increase the capacity by 25% by 2040. And Indonesia one of the larger geothermal market in the world there are numerous new opportunities that we're currently evaluating.

As our electricity segment continues to grow the impact of the volatility of the product segments and especially margin volatility will have relatively less of an impact on our overall financial results."

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