The expectations for the Raft River power plant #1 were not initially met, as they supposedly had an excess of MW available but could not produce the 9 or 10 MW that they had contracts for. The power/flow has been increasing with time, and they are now producing closer to the capability of the plant. They still have a few issues to resolve with RR#1, but overall it looks that the major issues are behind them.

Ongoing drilling at Neil Hot Springs will determine if there is a cost-effective energy source available there. The company purchased the operating Empire geothermal plant in Nevada recently, with the expectation that the newer ORMAT generation plant efficiencies will double or triple the power output there. There is a significant amount of engineering work to be done at both these sites before they can become producers, so we are in a waiting state at the moment.

The financials looked a bit sour with the lower production figures, which put the share price down, but they are starting to recover. Currently there is some concern about future financing to pay for the expansions and getting production at the new projects, and when we see the financing in place (at a reasonable interest rate) the stock value should at least double from here in my opinion.

With the increasing price of oil the value of geothermal keeps increasing, and eventually the share price will reflect this.