Core Insights - XGS Energy and Baker Hughes have announced a strategic collaboration to advance a 150-megawatt geothermal project in New Mexico, aimed at providing clean, reliable power to the Public Service Company of New Mexico's grid for Meta's data center operations [1][4] Group 1: Collaboration Details - The partnership combines Baker Hughes' geothermal portfolio with XGS's innovative geothermal system that is independent of water and geological conditions, enhancing project execution capabilities [2][4] - Initial efforts will focus on exploration and engineering phases to mitigate risks and establish a solid technical foundation for the project [2][3] Group 2: Project Impact - The project is expected to increase New Mexico's operating geothermal capacity by tenfold, showcasing XGS's ability to deliver large-scale energy solutions [3] - The collaboration aims to leverage Baker Hughes' expertise in subsurface and surface engineering to ensure efficient and reliable power delivery [3] Group 3: Company Background - XGS Energy specializes in next-generation geothermal systems that utilize thermally conductive materials, allowing for energy production without reliance on natural water resources [5] - Baker Hughes is an established energy technology company with a century of experience, providing innovative solutions to enhance energy efficiency and sustainability [6]

Core Viewpoint - Expro is partnering with VERCANA GmbH to provide well testing services for the first Schleidberg well as part of the Lionheart Project, which is a significant geothermal and lithium extraction initiative in Europe [2][3]. Group 1: Project Overview - The Lionheart Project is recognized as a strategic initiative under the European Union's Critical Raw Materials Act (CRMA) and is one of the largest geothermal and lithium extraction programs in Europe [3]. - Expro will deliver a comprehensive suite of services, including the advanced GeoFlow™ Surface Well Testing package, to support the characterization of the reservoir and the assessment of fluid properties [4]. Group 2: Company Positioning - This project enhances Expro's position as a key delivery partner in the sustainable energy sector in Europe, building on its expanding geothermal portfolio [5][6]. - Expro has over 40 years of experience in servicing geothermal projects and plans to leverage expertise from its Well Flow Management and Well Intervention offerings [6]. Group 3: Leadership Insights - Andrei Ion, Managing Director for Europe, Mediterranean and Caspian, emphasized the strategic importance of the Lionheart Project and how it exemplifies the adaptation of traditional oilfield services to unlock geothermal resources and critical raw materials like lithium [7]. - Marco Köpsel, managing director of VERCANA GmbH, highlighted the partnership with Expro as a significant step in harnessing sustainable energy and critical raw materials [8].

Core Viewpoint - Ormat Technologies, Inc. successfully closed a private offering of $1 billion in convertible senior notes, indicating strong demand and a favorable market for convertible securities [1][4]. Offering Details - The offering includes $825 million of 1.50% Series A Convertible Senior Notes and $175 million of 0.00% Series B Convertible Senior Notes, both maturing on March 15, 2031 [2]. - Series A Notes will pay interest at 1.50% per year, while Series B Notes will not bear regular interest [2]. - Holders of Series B Notes can require the company to repurchase their notes at 100% of the principal amount on March 15, 2027 [3]. Management Commentary - The CEO of Ormat expressed satisfaction with the offering, highlighting its strategic benefits, including low cash coupon rates and reduced equity dilution [4]. - The capital raise is expected to strengthen the company's balance sheet and enhance growth potential, reflecting positive investor sentiment in the geothermal and energy storage sectors [4]. Use of Proceeds - Approximately $287.9 million of the net proceeds will be used to repurchase $285.9 million of the company's existing 2.50% convertible senior notes due 2027 [5]. - An additional $25 million will be used for repurchasing shares of common stock, with the remainder allocated for general corporate purposes [5]. Company Overview - Ormat Technologies is a leading geothermal company with over 3,600 MW of gross capacity and a focus on energy storage market growth [6]. - The company operates a total generating portfolio of 1,835 MW, including 1,340 MW from geothermal and solar generation, and 495 MW from energy storage [6].

Enhanced geothermal has had a promising few years, nudged forward by data centers’ insatiable demand for electricity. Fervo Energy has landed deals on those tailwinds, suggesting, but not guaranteeing, that the company was through the “valley of death.” The term describes when a startup has proven its tech, but hasn’t raised enough money to show it can work profitably at scale. Many startups fail to ever move past this point, and end up dying off. Exactly when a startup emerges from the valley of deat ...

Core Insights - Fervo Energy has successfully closed $421 million in non-recourse debt financing for the first phase of its Cape Station development in Utah, marking a significant transition to a long-term project capital structure [1][2] - Cape Station is positioned as a model for geothermal energy to meet increasing power demands from sectors such as data centers, artificial intelligence, and industrial manufacturing [1] - The project is expected to deliver its first power to the grid this year, with an initial operating capacity of approximately 100 MW, scaling up to 500 MW in the future [1] Non-Recourse Financing Details - The $421 million financing package consists of a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility, aimed at funding remaining construction costs and supporting credit requirements [2] - Fervo Energy's CFO highlighted that Cape Station challenges the notion that non-recourse financing is unattainable for first-of-a-kind projects, showcasing the bankability of enhanced geothermal systems (EGS) [2] - RBC Capital Markets, along with other financial institutions, played a key role in arranging the financing, emphasizing the growing importance of EGS as a core energy asset class for infrastructure lenders [2]

INVESTOR PRESENTATION ORMAT TECHNOLOGIES, INC. March 2026 Mammoth Complex, USA SAFE HARBOR STATEMENT AND NON-GAAP METRICS THIS PRESENTATION INCLUDES FORWARD-LOOKING STATEMENTS, AND THE DISCLAIMER SHOULD BE READ CAREFULLY FORWARD-LOOKING STATEMENTS This presentation, and information provided during any discussion accompanying this presentation, may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve estimates, expectations, ...

Core Viewpoint - Ormat Technologies, Inc. has announced the pricing of private offerings totaling $725 million for Series A Convertible Senior Notes and $150 million for Series B Convertible Senior Notes, with the offering size increased from a previously announced $750 million [1] Group 1: Offering Details - The Series A Notes will accrue interest at 1.50% per year, payable semiannually starting September 15, 2026, while the Series B Notes will not bear regular interest [2] - Both series of Notes will mature on March 15, 2031, unless converted, redeemed, or repurchased earlier [2] - The initial conversion rate for both Series A and Series B Notes is set at 7.1225 shares of common stock per $1,000 principal amount, equating to a conversion price of approximately $140.40 per share, representing a 30% premium over the last reported sales price on March 17, 2026 [3] Group 2: Use of Proceeds - The estimated net proceeds from the sale of the Notes are approximately $853.6 million, which could increase to $975.7 million if the initial purchasers fully exercise their options [5] - The Company plans to use about $287.9 million of the net proceeds to repurchase approximately $285.9 million of its 2.50% convertible senior notes due 2027, alongside $25 million in cash on hand [5][8] - An additional $25 million of the net proceeds will be allocated for share repurchases at a price of $108.00 per share, which is the last reported sales price on March 17, 2026 [6] Group 3: Company Overview - Ormat Technologies is a leading geothermal company with over five decades of experience, focusing on geothermal and recovered energy generation [11] - The Company operates a total generating portfolio of 1,835 MW, including 1,340 MW from geothermal and solar generation, and a 495 MW energy storage portfolio located in the U.S. [11]

Core Viewpoint - Ormat Technologies, Inc. plans to offer $600 million of Series A Convertible Senior Notes and $150 million of Series B Convertible Senior Notes, with the intention to use proceeds for repurchasing existing convertible notes and shares, as well as for general corporate purposes [1][6]. Group 1: Offering Details - The Company intends to offer a total of $750 million in convertible senior notes, with Series A Notes amounting to $600 million and Series B Notes to $150 million [1]. - The Notes will be unsecured senior obligations maturing on March 15, 2031, with interest payable semiannually starting September 15, 2026 [2]. - The Company may grant initial purchasers options to buy an additional $90 million of Series A Notes and $22.5 million of Series B Notes within 13 days of issuance [1]. Group 2: Conversion and Redemption Terms - Holders can convert the Notes under specific conditions before November 15, 2030, and at any time thereafter until maturity [3]. - The Company will pay cash for the principal amount upon conversion and may also provide shares or a combination of cash and shares for any excess [3]. - The Notes are not redeemable before March 20, 2029, but can be redeemed thereafter if certain stock price conditions are met [3]. Group 3: Use of Proceeds - A portion of the net proceeds will be used to repurchase existing 2.50% convertible senior notes due 2027, alongside $25 million in cash on hand [6]. - Up to $25 million of the proceeds will be allocated for repurchasing shares of common stock at the closing price on the pricing date [6]. - The remaining proceeds will be utilized for general corporate purposes, aimed at offsetting the dilutive effect of the 2027 Notes [6]. Group 4: Company Overview - Ormat Technologies is a leading geothermal company with over 3,600 MW of gross capacity and a focus on energy storage services [12]. - The Company operates a total generating portfolio of 1,835 MW, including 1,340 MW from geothermal and solar generation across multiple countries [12]. - Ormat is vertically integrated in geothermal and recovered energy generation, with plans to expand its presence in the U.S. energy storage market [12].

Core Insights - Ormat Technologies Inc. has commenced commercial operations at the Shirk energy storage facility, which is an 80MW/320MWh Battery Energy Storage System located in Visalia, California [1][2] Group 1: Project Details - The Shirk facility is secured under a 15-year Resource Adequacy Purchase and Sale Agreement with the City of Riverside, enhancing grid reliability and addressing California's increasing demand for flexible energy resources [2] - The project qualifies for a 40% Investment Tax Credit, which the company plans to monetize as part of a hybrid tax equity partnership with Morgan Stanley Renewables, Inc. [3] Group 2: Company Strategy and Growth - The CEO of Ormat Technologies emphasized that the Shirk Energy Storage Facility marks a significant milestone in the growth of the company's energy storage platform, showcasing its capability to develop large-scale storage assets that provide essential reliability services to the grid [4] - The project is expected to strengthen the profitability and long-term visibility of Ormat's energy storage segment while advancing its strategy of building a diversified portfolio of contracted storage assets [4] Group 3: Company Background - Ormat Technologies has over five decades of experience and is a leading geothermal company, vertically integrated in geothermal and recovered energy generation [5] - The company aims to accelerate long-term growth in the energy storage market and establish a leading position in the U.S. energy storage market, with a current total generating portfolio of 1,835MW [5]

Core Viewpoint - Ormat Technologies Inc. has signed amendments to existing power purchase agreements (PPAs) with Central Coast Community Energy and Silicon Valley Clean Energy, resulting in a 27% increase in contract pricing and extending the contract term to 15 years, effective October 1, 2026 [2][4][5]. Group 1: Contract Amendments - The amended agreements cover a total of 15MW of contracted capacity from the Casa Diablo-IV geothermal power plant [2]. - The original PPAs, signed in 2022 and set to expire in 2032, have been extended by five years to 2037 [3]. - The contracted capacity under each agreement will increase from 7MW to 7.5MW, enhancing the total capacity with 3CE and SVCE to 15MW [4]. Group 2: Pricing and Economic Impact - Pricing under the amended agreements is approximately 27% higher than the original contracts [4]. - The amendments align with the company's "blend-and-extend" strategy, aimed at securing improved, demand-driven economics [3][5]. - The extended terms are expected to improve revenue visibility for the electricity segment and support stronger pricing for the CD4 power plant [5]. Group 3: Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over five decades of experience [6]. - The company operates a total generating portfolio of 1,755MW, including 1,340MW from geothermal and solar generation [6]. - Ormat is focused on expanding its activities into energy storage services and aims to establish a leading position in the U.S. energy storage market [6].