Ormat Technologies, Inc. (NYSE: ORA) announced that one of its subsidiaries has entered into a US$8.25 million agreement with ICQ Energetica s.r.l. of Italy, to supply ORMAT Energy Converter (OEC) systems for Recovered Energy Generation (REG) Plants. The equipment is to be supplied within 16 months from the contract date.
ICQ will install the systems at its landfill plants in Italy. The OEC power plants will convert unused gases from the landfills into electric power without burning any additional fuel.
This power recovery system can operate with hot exhaust gases to generate electricity on a continuous basis. To save consumption of water for cooling and for simplicity of installation and operation, the OEC plant will employ air-cooled condensers.
Lucien Y. Bronicki, Chairman of the Board and Chief Technology Officer of Ormat Technologies, said, “This contract marks the first entry of our Recovered Energy Generation plants into a new market: landfills in Italy, adding to our Recovered Energy Generation Systems already used in gas compressor stations, gas processing plants, cement plants and other facilities.”
Over 750 MW of ORMAT Geothermal and Recovered Energy Generation (REG) Power Plants have been constructed around the world in 23 countries, from California in the USA to Thailand and from Iceland to New Zealand.
Ormat Technologies, Inc. is a vertically integrated company primarily engaged in the geothermal and recovered energy power business. The company designs, develops, builds, owns and operates geothermal power plants and also designs, develops and builds and plans to own and operate recovered energy- based power plants. Additionally, the Company designs, manufactures and sells geothermal and recovered energy power units and other power generating equipment and provides related services. Ormat products and systems are covered by more than 70 patents. Ormat currently has operations in the United States, Israel, the Philippines, Guatemala, Kenya and Nicaragua.
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