Ormat Technologies Inc. (NYSE: ORA) said today that an eruption on May 28 of Volcano De Pacaya in Guatemala led to a temporary shutdown of an Ormat power plant.
Ormat said were no injuries to plant's staff.
The 20 megawatt Amatitlan power plant was temporarily shut down in order to safeguard equipment. Ormat said that while a preliminary inspection showed no substantial equipment damage, the plant will require "a thorough clean up" prior to restarting. Ormat is assessing how long it will take to clean the equipment and repair minor damage in order to bring the power plant back on line.
Ormat chairman Lucien Bronicki said, "Our concern and thoughts are with the refugees and adjacent communities of San Francisco de Sales, San Jose Caldera, El Cedro, and El Bejucal. Many homes were damaged and many people in these communities were severely impacted by the eruption." p>Shares in Ormat Technologies rose slightly on Friday. There was no trading on the New York Stock Exchange yesterday in commemoration of Memorial Day.
The share price of Ormat Technologies parent company Ormat Industries Ltd. (TASE: ORMT) is down 2% today, after dropping about 3% yesterday.
Published by Globes [online], Israel business news - www.globes-online.com - on June 1, 2010
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