Source: Ormat Technologies, Inc.
Ormat Technologies, Inc. (ORA) offered a conservative status update on their Amatitlan geothermal plant in Guatemala, which was initially shut down following the May 28th volcanic eruption of Volcan de Pacya. That event resulted in limited damage to the 20 -megawatt facility with no reported casualties.
This week while still in the midst of assessment and outlining post volcanic recovery efforts the Amatitlan suffered further set backs when its gathering system was damaged by tropical storm Agatha as it swept through Guatemala.
First round inspections following tropical storm Agatha have not revealed any significant injuries to personnel or vital equipment moving Ormat to express a cautiously optimistic projection of rapidly reconnecting wells and restoring at least partial operations once clean up of the volcanic ash and storm debris concludes.
The Company is in contact with its insurance carrier regarding physical damage to equipment and business disruption caused to the geothermal plant. At this time Ormat could not offer an estimate on when the Amatitlan plant would be able to commence full operations again.
