The company took a $9m loss in the quarter, $0.20 per share, against a profit of $1.8m, $0.04 per share, a year earlier. North Brawley, where the company is struggling to improve injection capacity and achieve sustainable production, accounted for a $10.3m pre-tax loss.
Ormat’s revenue in the quarter rose more than 18% to $97.8m on a 14.2% increase in generation at an average rate of $75 per MWh, and growth in the company’s Product Segment, which supplies geothermal equipment to its own projects and to third-party customers.
Ormat
