Today, Ormat announced an agreement to sell power beginning in 2010 to Sierra Pacific’s Nevada Power Company for output targeted between 18 and 30MW. Between this news and an upgrade from RBC Capital Markets Tuesday, Ormat’s stock is enjoying a nice run up from lows experienced post-Q1 earnings miss warning.

As an investor, Ormat is attractive around $35 share provided the company meets its stated revenue and earnings projections.

This entry was posted on Thursday, May 24th, 2007 at 7:40 am and is filed under Business, Geothermal.