Guinness Sustainable Energy Fund on Ormat Technologies
Thesis
The fund owns Ormat Technologies for differentiated exposure to geothermal power. The company is described as the world's only integrated producer and equipment manufacturer for geothermal projects, giving it exposure to both generation and project equipment. Geothermal adds a source of low-carbon generation that can complement intermittent wind and solar as global power demand rises.
“the world’s only integrated producer and equipment manufacturer for geothermal projects”
Key risks
- Project development can be delayed
- Capital-intensive power projects are sensitive to financing conditions