Ormat Technologies, Inc. and its subsidiaries engage in the geothermal and recovered energy power business in the United States and internationally. The company operates in two segments, Electricity and Products. The Electricity segment develops, builds, owns, and operates geothermal and recovered energy-based power plants, and sells electricity. The Products segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation; and remote power units and other power generators, including fossil fuel powered turbo-generators and heavy duty direct current generators. These products are offered to owners and operators of geothermal plants, interstate natural gas pipelines, gas processing plants, and cement plants; contractors installing gas pipelines; and various companies engaged in other energy-intensive industrial processes. This segment also provides services relating to the engineering, procurement, construction, operation, and maintenance of geothermal and recovered energy power plants. The company was founded in 1965 and is based in Reno, Nevada. It has a joint venture agreement with Sunday Energy Ltd. to develop, construct, and operate solar-photovoltaic energy systems with a total capacity of 36 megawatts in Israel. Ormat Technologies, Inc. is a subsidiary of Ormat Industries, Ltd.
UPDATE 1-Ormat Technologies' unit to buy HSS II (reuters.com)