Ormat Technologies to Construct 101MW Geothermal Plant in New Zealand

Zacks11-13

Ormat Technologies, Inc. ORA recently announced that it has agreed to sign an Engineering, Procurement and Construction (EPC) contract with Contact Energy, involving geothermal energy. This contract, ...

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ORA recently announced that it has agreed to sign an Engineering, Procurement and Construction (EPC) contract with Contact Energy, involving geothermal energy. This contract, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/ormat-technologies-construct-101mw-geothermal-153100505.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0251131958.USD","symbol_name":"FIDELITY AMERICA \"A\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/ormat-technologies-construct-101mw-geothermal-153100505.html","article_id":"2483834880","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/xr2703.o6gQQs.cj6B9k8g--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/ccddba22efad55ad3a6ef5dc9f69623d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483834880","pubTimestamp":1731511860,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Ormat Technologies, Inc. ORA recently announced that it has agreed to sign an Engineering, Procurement and Construction  contract with Contact Energy, involving geothermal energy. This contract, valued at $200 million, entails the development of the 101-megawatt  Te Mihi Stage 2 geothermal power plant in New Zealand.Te Mihi Stage 2 will gradually replace the outdated Wairakei geothermal station and is slated to be completed by mid-2027.Some other companies, which are increasing investments in geothermal generation and are expected to gain from the expanding global geothermal market, are discussed below.Baker Hughes Company BKR: It has been working on geothermal energy for more than 40 years, with projects in more than 30 countries around the world. The company has developed a prototype metal-to-metal mud motor with a mud-lubricated bearing assembly and a titanium transmission for harvesting energy from an enhanced geothermal system in Iceland.The company has a long-term  earnings growt","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4159":"经销商","LU1721428347.USD":"BNP PARIBAS CLIMATE IMPACT \"C\" (USD) ACC","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","BK4566":"资本集团","LU2477742899.HKD":"BNP PARIBAS CLIMATE IMPACT \"C\" (HKD) ACC","LU1917777945.USD":"安联专题基金Cl AT Acc","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","CAGR":"California Grapes International, Inc.","FCEL":"燃料电池能源","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","EPC":"Edgewell Personal Care Co","ORA":"奥玛特科技","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","BK4588":"碎股","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU2463526074.USD":"NORDEA 1 - GLOBAL CLIMATE ENGAGEMENT \"BP\" (USD) ACC","LU2506952337.HKD":"BNP PARIBAS CLIMATE IMPACT \"CRH\" (HKDHDG) ACC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","LU0256331488.USD":"SCHRODER ISF GLOBAL ENERGY \"A\" ACC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","BK4179":"石油天然气设备与服务","BK4133":"新能源发电业者","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU2506952410.USD":"BNP PARIBAS CLIMATE IMPACT \"CRH\" (USDHDG) ACC A","BK4096":"电气部件与设备","BK4183":"个人用品","LU0251142724.SGD":"Fidelity America A-SGD","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0154245756.USD":"BNP PARIBAS US MID CAP \"C\" (USD) ACC","HAL":"哈里伯顿","BK4541":"氢能源","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","BKR":"贝克休斯","LU0154245673.USD":"BNP PARIBAS US MID CAP \"C\" (USD) INC"},"translate_title":"Ormat Technologies将在新西兰建设101MW地热发电厂","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ORA":1,"HAL":1,"FCEL":1,"EPC":1,"CAGR":1,"BKR":1},"content_text":"Ormat Technologies, Inc. ORA recently announced that it has agreed to sign an Engineering, Procurement and Construction (EPC) contract with Contact Energy, involving geothermal energy. This contract, valued at $200 million, entails the development of the 101-megawatt (MW) Te Mihi Stage 2 geothermal power plant in New Zealand. Te Mihi Stage 2 will gradually replace the outdated Wairakei geothermal station and is slated to be completed by mid-2027.\nORA’s Position in Geothermal Generation\nWith the effects of climate change becoming increasingly evident, the shift to renewable energy sources like geothermal has increased in recent times to effectively reduce greenhouse gas emissions. Since geothermal plants can provide power to the grid constantly unaffected by weather or daylight, this source of energy serves as a flexible and reliable form of backup power during major electricity outages or disruptions.This is likely to have prompted Grand View Research to forecast a compound annual growth rate (CAGR) of 3.1% for the global geothermal energy market during the 2024-2030 time period. Ormat Technologies, being a forerunner in generating electricity from geothermal energy, stands to gain significantly from the aforementioned market growth prospect. The latest EPC contract is the fourth major geothermal project in New Zealand, highlighting its expertise in binary technology, which works well for high-temperature geothermal sites. Ormat Technologies expects its year-end Product Segment backlog to exceed $300 million following the contract signing. Most of the revenues from this deal will be recognized in 2026 and 2027. The Te Mihi Stage 2 project, along with 160 MW of other projects underway in New Zealand, strengthens ORA’s position as one of the leading companies contributing to this nation’s renewable energy capacity expansion.Subject to final investment decision, Contact Energy is planning a second phase of development named Te Mihi Stage 3, which is expected to come online by mid-2031. ORA is expected to clinch another EPC contract for this facility, which, in turn, is likely to boost its future revenues.\nOpportunities for ORA’s Peers\nSome other companies, which are increasing investments in geothermal generation and are expected to gain from the expanding global geothermal market, are discussed below.Baker Hughes Company BKR: It has been working on geothermal energy for more than 40 years, with projects in more than 30 countries around the world. The company has developed a prototype metal-to-metal mud motor with a mud-lubricated bearing assembly and a titanium transmission for harvesting energy from an enhanced geothermal system in Iceland.The company has a long-term (three to five years) earnings growth rate of 25.9%. The Zacks Consensus Estimate for BKR’s 2024 sales indicates year-over-year growth of 8.4%.Halliburton Company HAL: It provides a wide range of products, technology and integrated services to help reduce costs and manage risks in geothermal projects. The company works closely with clients to develop the best solutions for various types of geothermal energy projects.The company has a long-term earnings growth rate of 2.7%. The Zacks Consensus Estimate for HAL’s 2025 sales indicates year-over-year growth of 3.2%.\nORA Stock’s Price Movement\nShares of ORA have gained 3.4% in the past month compared with the industry’s 11% growth.\nImage Source: Zacks Investment Research\nORA’s Zacks Rank & Stock to Consider\nORA currently carries a Zacks Rank #3 (Hold).A better-ranked stock in the same industry is FuelCell Energy FCEL. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.FuelCell Energy delivered an average earnings surprise of 18.75% in the last four quarters. The Zacks Consensus Estimate for 2025 sales is pinned at $191.9 million, which indicates year-over-year growth of 86.9%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nHalliburton Company (HAL) : Free Stock Analysis Report\nFuelCell Energy, Inc. (FCEL) : Free Stock Analysis Report\nOrmat Technologies, Inc. (ORA) : Free Stock Analysis Report\nBaker Hughes Company (BKR) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Company Corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483834880"}