Ormat Technologies ( NYSE: ORA ) said on Tuesday it signed two contracts it expects will bring in a combined $100M in revenues .
Ormat's ( ORA ) contract with New Zealand's Contact Energy will provide engineering, procurement and construction services for a new maximum continuous performance 59 MW geothermal power plant in New Zealand, including its air-cooled Ormat Energy Converters for the Tehuka 3 geothermal project.
Ormat ( ORA ) also signed a 6 MW supply contract with Sarulla Operations in Indonesia to supply its Ormat Energy Converters as part of remediation work to improve the power plant's performance.
The company said the signing of the two contracts increases its product segment backlog to ~$150M, its highest since 2020.
Ormat Technologies ( ORA ) is the world's second-largest geothermal owner and operator, and one of the few publicly traded, but shares are expensive, WideAlpha writes in an analysis published recently on Seeking Alpha .
For further details see:
Ormat Tech wins $100M in EPC and supply contracts in New Zealand, Indonesia