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Ormat Technologies, Inc. to Host Conference Call Announcing Second Quarter 2025 Financial Results
Globenewswire· 2025-07-07 12:40
Core Viewpoint - Ormat Technologies Inc. is set to release its second quarter financial results on August 6, 2025, followed by a conference call on August 7, 2025, to discuss these results [1]. Company Overview - Ormat Technologies, Inc. is a leading geothermal and renewable energy company with over six decades of experience [4]. - The company is the only vertically integrated entity engaged in geothermal and recovered energy generation (REG) [4]. - Ormat has a total generating portfolio of 1,558 MW, which includes 1,268 MW from geothermal and solar generation and 290 MW from energy storage [4]. - The company operates globally, with projects in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe [4]. - Ormat is expanding its activities into energy storage services and solar photovoltaic (PV) systems [4].
Pulsar Helium Engages Sproule-ERCE for Pre-Feasibility Study at the Tunu Helium-Geothermal Project, Greenland
GlobeNewswire News Room· 2025-06-24 06:00
Core Viewpoint - Pulsar Helium Inc. has signed an agreement with Sproule-ERCE to conduct a Pre-Feasibility Study for the Tunu helium-geothermal project in East Greenland, marking a significant milestone for the company as it advances one of the few primary helium occurrences in Europe [1][2]. Company Overview - Pulsar Helium Inc. is a leading helium project development company, publicly traded on the AIM market of the London Stock Exchange and the TSX Venture Exchange, with a focus on helium and geothermal energy projects [11]. - The company holds exclusive rights for helium exploration in Greenland, being the first to receive a license for helium exploration in the country [6]. Tunu Project Details - The Tunu Project is located on the east coast of Greenland, near Ittoqqortoormiit, and is notable for helium concentrations in sampled hot springs reaching up to 0.8% [5]. - The project also shows significant geothermal energy prospects, with reservoir temperatures estimated between 80°C and 110°C, allowing for potential cogeneration of power and heat [5]. - A passive seismic survey conducted in 2024 identified two main low-velocity anomaly zones, indicating fractured reservoirs that could trap helium [6]. Pre-Feasibility Study (PFS) - The PFS will evaluate existing geothermal opportunities alongside potential helium extraction, utilizing advanced geophysical data interpretation [7]. - The study is led by Sproule-ERCE, which has a strong track record in geothermal resource assessment and project development, having supported over 200 megawatt (MWth) of geothermal heat capacity globally [7]. - The PFS is scheduled for completion by the end of August 2025, providing a robust technical and economic foundation for future project decisions [7]. Strategic Importance - The Tunu project is positioned to support Europe's critical raw materials and clean energy ambitions, with the potential for renewable geothermal power for the local community [4][6]. - The project's location allows for efficient transport of helium to the European market, enhancing its strategic value [6].
Pulsar Helium Engages Sproule-ERCE for Pre-Feasibility Study at the Tunu Helium-Geothermal Project, Greenland
Globenewswire· 2025-06-24 06:00
Core Viewpoint - Pulsar Helium Inc. has signed an agreement with Sproule-ERCE to conduct a Pre-Feasibility Study for the Tunu helium-geothermal project in East Greenland, marking a significant milestone for the company as it advances one of the few primary helium occurrences in Europe [1][2]. Company Overview - Pulsar Helium Inc. is a leading helium project development company, publicly traded on the AIM market, TSX Venture Exchange, and OTCQB [11]. - The company holds exclusive rights for helium exploration in Greenland and has identified primary helium occurrences not associated with hydrocarbons [6][11]. Tunu Project Details - The Tunu Project is located on the east coast of Greenland, near Ittoqqortoormiit, and features helium concentrations in hot springs reaching up to 0.8% [5]. - The project also shows significant geothermal energy potential, with reservoir temperatures estimated between 80°C and 110°C, allowing for potential cogeneration of power and heat [5]. - A passive seismic survey conducted in 2024 identified two main low-velocity anomaly zones, indicating potential helium trapping reservoirs [6]. Pre-Feasibility Study (PFS) - The PFS will evaluate geothermal opportunities alongside potential helium extraction, utilizing advanced geophysical data interpretation [7]. - Sproule-ERCE, with a strong track record in geothermal resource assessment, will lead the study, which is expected to be completed by the end of August 2025 [7]. - The PFS aims to provide a robust technical and economic foundation for future project decisions [7]. Licensing and Regulatory Status - Pulsar holds Special Mineral Exploration Licence 2021-45 and has applied for an exclusive exploration licence for part of the licence area, which is currently in 'License Pending' status [8]. - The new licence will have an initial term of five years, extendable to a maximum of 22 years, subject to certain conditions [8].
能源公司XGS Energy将与Meta Platforms(META.O)合作开发150兆瓦先进地热项目。
news flash· 2025-06-12 20:04
能源公司XGS Energy将与Meta Platforms(META.O)合作开发150兆瓦先进地热项目。 ...
Meta teams with XGS Energy to build a 150 MW geothermal power plant
TechCrunch· 2025-06-12 20:00
Meta is the latest tech company to warm to geothermal energy, announcing on Thursday a deal with startup XGS Energy to develop a 150 megawatt geothermal power plant in New Mexico. XGS Energy has yet to say where it’ll be building the power plant, and Meta wouldn’t disclose specifics about the deal other than to say it’s not yet a contract to purchase power, but rather an agreement “to advance geothermal energy development” in the state, a Meta spokesperson told TechCrunch. Recently, tech companies, data ce ...
Ormat Technologies Announces Strategic Leadership Changes
Globenewswire· 2025-06-05 17:15
Core Insights - Ormat Technologies, Inc. has appointed two new executives to enhance its management team and support growth in the renewable energy sector [1][7] - The appointments are aimed at optimizing operations and driving innovation within the company's Electricity Segment and geothermal initiatives [6] Management Appointments - Aron Willis has been appointed as Executive Vice President of the Electricity Segment, effective June 4, 2025, where he will oversee operations and ensure alignment with strategic goals [2][3] - Daniel Moelk will join as Senior Vice President of Resources, Drilling & EGS in July 2025, focusing on implementing advanced processes and technologies [4][5] Executive Backgrounds - Aron Willis brings over 25 years of experience in power generation, having held senior leadership roles at TransAlta Corporation, including managing operations with a capacity of approximately 500MW in Australia [3] - Daniel Moelk has nearly 18 years of experience in geothermal operations, previously serving as EVP of European Operations for Eavor Technologies Inc., and has a strong background in drilling management [5] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with a total generating portfolio of 1,538MW, including 1,248MW from geothermal and solar sources [8] - The company is vertically integrated, involved in the design, manufacture, and operation of geothermal and recovered energy generation (REG) power plants, with a global presence in multiple countries [8]
Ormat Technologies: The Pure-Play Geothermal Company Is Having Its Moment
Seeking Alpha· 2025-05-15 16:16
Group 1 - The article highlights the historical significance of Prince Piero Ginori Conti's achievement in 1904, where he successfully lit five light bulbs using a generator that utilized steam from the earth in Larderello, Italy [1] - This event marked the beginning of commercial geothermal energy development, showcasing the potential of harnessing natural steam for electricity generation [1] Group 2 - The article does not provide any additional relevant information regarding companies or industries beyond the historical context mentioned above [2][3]
Ormat Technologies Reports First Quarter 2025 Financial Results
Globenewswire· 2025-05-07 20:15
REVENUE GROWTH AND RECORD QUARTERLY ADJUSTED EBITDA SUPPORT ONGOING STRATEGIC PORTFOLIO EXPANSION HIGHLIGHTS TOTAL REVENUES AND NET INCOME1 IMPROVED 2.5% AND 4.6%, RESPECTIVELYRECORD ADJUSTED EBITDA OF $150.3 MILLION, AN INCREASE OF 6.4% VS LAST YEARENERGY STORAGE SEGMENT REVENUES INCREASED BY 120% DRIVING MEANINGFUL MARGIN INCREASESIGNED AN AGREEMENT TO ACQUIRE THE 20MW BLUE MOUNTAIN GEOTHERMAL POWER PLANT FROM CYRQ ENERGYCOMPANY REITERATES ITS 2025 FULL-YEAR GUIDANCE, REFLECTING STRONG EXECUTION AND CONFI ...
Earnings Preview: Ormat Technologies (ORA) Q1 Earnings Expected to Decline
ZACKS· 2025-04-30 15:07
Ormat Technologies (ORA) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 7. ...
Ormat Technologies(ORA) - 2024 Q4 - Earnings Call Transcript
2025-02-27 22:22
Financial Data and Key Metrics Changes - Total revenues for 2024 were $879.7 million, marking growth of 6.1% year over year, while revenue for the fourth quarter was $230.7 million, down 4.4% year over year [13][14] - Adjusted EBITDA for the full year 2024 was $550.5 million, an increase of 14.3% compared to 2023, with fourth quarter adjusted EBITDA results at $145.5 million, an increase of 4.6% year over year [16][17] - Net income attributable to stockholders for the full year 2024 was $123.7 million or $2.04 per diluted share, compared to $124.4 million or $2.08 per diluted share in the previous year [15][16] Business Segment Data and Key Metrics Changes - Electricity segment revenue for the fourth quarter decreased by 2.1% to $180.1 million, while for the full year, it increased by 5.3% to $702.3 million [18][19] - Product segment revenue declined by 21.4% to $39.6 million during the fourth quarter, but grew by 4.4% to $139.7 million for the full year [19] - Energy Storage segment revenue increased by 56.7% in the fourth quarter and by 30.6% to $37.7 million for the full year [19] Market Data and Key Metrics Changes - The gross margin for the Electricity segment was 34.9% in the fourth quarter and 34.6% for the full year, impacted by curtailments in the U.S. and Kenya [20] - The Energy Storage segment reported gross margin of 9.5% and 10.9% during the fourth quarter and full year respectively, marking significant improvement [22] Company Strategy and Development Direction - The company aims to reach a portfolio capacity target of 2.6 to 2.8 gigawatts by the end of 2028, with a capacity CAGR of 14% to 16% driven by strong U.S. market demand [39][45] - The company is focusing on securing new PPAs and transitioning its Storage segment to a more predictable portfolio with stronger profitability [38][45] Management's Comments on Operating Environment and Future Outlook - Management expects total revenue in 2025 to be negatively impacted by $10 million to $15 million in the U.S. due to ongoing curtailments [21] - The company anticipates growing demand for renewable energy, particularly for AI data centers, and is confident in achieving improved project returns through higher PPA pricing [46][45] Other Important Information - The company plans to invest approximately $570 million in capital expenditures for 2025, with $355 million allocated to the electricity segment and $200 million for storage assets [29][30] - The company has approximately $667.1 million of total available liquidity as of the end of 2024 [29] Q&A Session Summary Question: How should we think about electricity generation expectations for the Electricity segment in the portfolio embedded in the '25 guide? - Management indicated that generation expectations for 2025 may see a modest increase, with potential for double-digit growth in 2026 as new projects come online [50][52] Question: Can you comment on the increase in exploration and preliminary drilling activities? - Management explained that they are focusing on increasing exploration activities and have changed their approach to drilling, which is expected to accelerate portfolio growth over the next few years [57][58] Question: What is the expected contribution from the $210 million contract for the New Zealand project in 2025? - Management stated that revenue from the New Zealand project will be spread across several years, with significant contributions expected in 2025 [73][75] Question: Can you provide an update on the MOU with SLB for developing geothermal assets? - Management highlighted the importance of the MOU, which aims to leverage SLB's drilling expertise and customer base to develop geothermal projects [99][101] Question: What is the margin outlook for the Energy Storage segment in 2025? - Management expects margins for the Energy Storage segment to be between 15% to 20% for the full year, with specific projects contributing to higher margins in certain quarters [92][93]