Ormat targets breaking 1,000 MW geothermal capacity in 2022

Ormat targets breaking 1,000 MW geothermal capacity in 2022 Platanares geothermal power plant, Honduras (source: Ormat Technologies)
Alexander Richter 7 Mar 2021

Ormat Technologies continues its geothermal expansion. At year-end 2020, it had 932 MW of geothermal capacity under management and expects to break 1,000 MW in 2022.

In an earnings call with investors, Ormat Technologies provided insights into the current status of the company’s activities and updates on its development.

In 2020, the company’s global portfolio reached 932 MW in geothermal power generation capacity under management by Ormat. This is an increase from 914 MW in 2019. This includes a 19 MW addition from the enhancement of the company’s Steamboat Hills plant in Nevada, 8 MW additions due  to higher resource performance at aMammoth, McGinnis Hills, Tungsten, Neal Hot Springs and Rift River. At the same time there was a 9 MW reduction due to lower resource performance at the Ormesa Don. A Campbell and Jersey Valley geothermal plants.

With its capacity, Ormat is among the top geothermal operators worldwide.

Here the capacity by country:

  • United States 647 MW
  • Kenya 150 MW
  • Indonesia 42 MW (here the company only accounts for its 12.75% share in the Sarulla complex)
  • Guatemala 40MW
  • Honduras 38 MW
  • Guadeloupe 15 MW

The company further reports that it expects the Puna geothermal power plant to reach full operation by the mid of this year, so around 38 MW from currently 13 MW in operation.

On the product site, the company expects to sign two mid-size projects being late stage negotiations.

On own development, Ormat expects to add 143 to 148 MW in capacity by 2023,  this with an 8 MW addition in 2021, 110 MW addition in 2022 and 25-30 MW additions in 2023. The majority of additions are expected for projects in the U.S., with international additions through expansion of its Bouillante plant  (Guadeloupe), Zunil (Guatemala) and the new project in Ijen (Indonesia).

The company further has around 41 geothermal prospects, of which 31 are in the U.S., three in Guatemala and Honduras (Central America), four in Ethiopia (Africa), and one in New Zealand.

Ormat also continues its expansion of  its energy storage and solar business.

Source: Investor Presentation Q4, 2021 Earnings Call