Ormat Industries Ltd. (TASE:ORMT) unit Ormat Technologies Inc. (NYSE:ORA) today announced that its subsidiary, Puna Geothermal Venture, has completed the drilling and the mechanical cleaning of the production wells at the Puna Geothermal Power Plant located on the Big Island, Hawaii. The company statement said that following the well field work the power plant is now back at full production.
Consequently, Ormat Industries share price rose 6.2% on the TASE today to NIS 28.77. In premarket trading on the NYSE, Ormat Technologies share price was up 1% to $29, giving a market cap of $1.3 billion.
Commenting on the results of the well field work, Ormat CEO Dita Bronicki, said, "We are satisfied with the results of the well field work that was completed within the budget and on time."
Published by Globes [online], Israel business news - www.globes-online.com - on June 15, 2010
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