Ormat generated total revenues of $663M in the 2016 FY.
64% of total revenue was derived from the Electricity market and the remaining 36% from their Products segment (i.e. Engineering, construction, manufacturing services).
Ormat currently own and operate 19 Geothermal & Recovered Energy Generation (REG) sites worldwide, generating 713MW of electricity. Ormat have built over 150 power plants and installed over 2,200MW of Geothermal and REG.
Ormat currently identify the global growth potential of Geothermal to be 10x the current installed capacity of 13.8GW.
Ormat recently signed $36M EPC contract to supply one air-cooled Ormat Energy Converter (OEC) at Cyrq’s Soda Lake geothermal power project in northern Nevada. See announcement here.
An interesting point worthy of note is that in 52 years of operation Ormat have only built 2 plants in China. One is a remote power solution and the other is a 1MW Geothermal power station owned by the United Nations and built in 1993.
Also, according to the presentation, they have 8 current projects in development and 35 future prospects NONE of which are in China. This places KPO at a distinct advantage in China where we already have our first plant under construction.
KPO Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
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