The Nevada company increased 2011 revenue 17.1% over the year earlier with product revenue climbing 39% to $113.2m and electricity revenue from its geothermal plants up 11% to $323.8m, on average electricity sales prices of $83/MWh.
Ormat recorded a non-cash valuation allowance of $61.5m for deferred tax credits, which the company will only be able to realize if it generates enough taxable US income before they expire.
