After volcano, hurricane damages Ormat's Guatemala plant

Tropical Storm Agatha damaged the Amatitlan geothermal plant a week after damage caused by the eruption of Volcano de Pacya.

Ormat Industries Ltd. (TASE: ORMT) subsidiary Ormat Technologies Inc. (NYSE: ORA) today announced that Tropical Storm Agatha damaged the company's geothermal plant in Guatemala after the plant incurred damage in the eruption of Volcano de Pacya on May 28. Last week's storm damaged the plants gathering system.

Ormat believes that most of that most of the wells can be connected to the 20-megawatt Amatitlan plant quickly and partial operation of the power plant will resume as soon as the cleanup of the volcanic ash is completed. However, the company does not know when the power plant will resume full operations.

Ormat is in contact with its insurer over the physical damage to equipment and lost revenue caused by the interruption in business.

Published by Globes [online], Israel business news - www.globes-online.com - on June 7, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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