Others that are here today from the company are Ami Boehm, a newly appointed Director; Hila Ganz [ph], Assistant to the IR Manager; Eyal Hen, Director of Finance; Eram Karim [ph] and the KCSA team to whom we thank very much for organizing or assisting us in organizing this event.
As we were preparing for our meeting today, we try to compare the company we were at the IPO less than 8 years ago, and some of you are with us since that time, and the company that we are today. And I must admit, that even we were surprised by the differences.
Market cap increased from $0.5 billion to close to $1 billion. Installed capacity nearly doubled. Annual revenue increased to almost $0.5 billion, which is the guidance for this year. We have built an impressive exploration team, very important for future growth. Our land position for future growth increased substantially. Our Product segment is stronger than ever. Our vertical integration was expanded by our drilling capabilities with 9 rigs that we now own and, more importantly or as important, from the technology side, we increased our power generation module to a 20-megawatt in a single module.
The business environment became much more supportive for renewable energy. In 2004, the LPAs program in the United States was at its infancy. Today, we rely not only on the 33% LPAs in California for our growth, but very aggressive renewable energy policies throughout the world.During the last few years, we benefited in the U.S. from the ARRA legislation, which is about to expire shortly, or at least, this is our working assumption. But unlike wind, geothermal, we continue to be developed and grow even upon expiration of those incentives.A word about the low natural gas environment. Natural gas prices today in the United States are in the order of $2.5 million BTU. By the way, we have hedged, for this year, our capacity to expected capacity to $3.08 million BTU, a little better than what it is today. But the point I wanted to make is the difference between the $2.5 and $15 million BTU, which are the prices in Japan. We don't believe that this difference is going to remain for a long time. But what we will share with you is what we are planning to do in the interim and we do have paved some plans in the interim, and this is going to be part of the agenda today.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV