Ormat Pins Hopes in U.S. Geothermal Bill

Adi Ben, Israel [Globes [online], Israel business news] Ormat Industries Ltd. (TASE: ORMT) subsidiary Ormat Technologies Inc. (NYSE: ORA) is putting hopes on new House legislation to tap geothermal energy to meet US power needs. Ormat Technologies public policy manager Paul Thomsen told the House Science Subcommittee on Energy and Environment, “Today, nearly 3,000 megawatts of new geothermal power are under development, which will create over 10,000 new jobs and new investment of over $7 billion, but much more is possible.”

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