Ormat Signed New Product Segment Supply Contract in Indonesia

Source: www.gulfoilandgas.com 6/17/2021, Location: Asia

Ormat Technologies Inc. (ORA) announced that it has secured a new contract with Star Energy Geothermal Salak to supply products to extends the Salak geothermal field in Indonesia. The Salak geothermal field is located near Jakarta on the southwest flank of the Gunung Salak volcano and is currently contains geothermal power plant utilizing steam.

The new 14 MW Salak geothermal power plant will use air-cooled Ormat Energy Converter and will allow 100% geothermal fluid reinjection which serves both to sustain the reservoir and to produce electrical power with virtually no environmental impact. Ormat is in partnership with local contractor that will provide the EPC services. The supply of the plant is expected to be completed within 12 months from contract start.

Doron Blachar, CEO of Ormat Technologies, said, “This contract signals that the markets for our products segment are beginning to reopen as the impact of Covid-19 dissipates. We expect to record revenue partially in 2021, with the balance in 2022. Demand for clean, renewable energy continues and municipalities and utilities are seeking to expand the use of geothermal resources wherever possible. As the impact of the pandemic continues to decrease, we plan to pursue additional contracts worldwide.”

Gulf Oil and Gas
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