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Ormat to Supply Recovered Energy Generation Units to Italian Market

Ormat Technologies, Inc. (NYSE: ORA) announced that one of its subsidiaries has entered into a US$8.25 million agreement with ICQ Energetica s.r.l. of Italy, to supply ORMAT Energy Converter (OEC) systems for Recovered Energy Generation (REG) Plants. The equipment is to be supplied within 16 months from the contract date. ICQ will install the systems at its landfill plants in Italy. The OEC power plants will convert unused gases from the landfills into electric power without burning any additional fuel. This power recovery system can operate with hot exhaust gases to generate electricity on a continuous basis. To save consumption of water for cooling and for simplicity of installation and operation, the OEC plant will employ air-cooled condensers. Lucien Y. Bronicki, Chairman of the Board and Chief Technology Officer of Ormat Technologies, said, “This contract marks the first entry of our Recovered Energy Generation plants into a new market: landfills in Italy, adding to our Recovered Energy Generation Systems already used in gas compressor stations, gas processing plants, cement plants and other facilities.” Over 750 MW of ORMAT Geothermal and Recovered Energy Generation (REG) Power Plants have been constructed around the world in 23 countries, from California in the USA […]

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SOLON Acquires Italian Solar Module Manufacturer

SOLON AG, a Berlin-based solar manufacturer, is acquiring S.E. Project Srl, an Italian solar module manufacturer, effective January 1, 2006. S.E. Project is a leading Italian solar manufacturer, with 10 MW of production capacity and expected 2006 revenue of EUR 80 million. The companies have agreed to a purchase price of 500,000 shares in SOLON AG. The acquisition paves the way for SOLON to enter the Italian solar market. Italy recently signed into law a feed-in policy, which will make the country a key market. Domenico Sartore, founder and CEO of S.E. Project, will assume key responsibilities in the SOLON Group.

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