Core Insights - Ormat Technologies Inc. announced a $25 million equity investment in Sage Geosystems Inc. as part of a Series B funding round exceeding $97 million, aimed at advancing geothermal power generation and energy storage solutions [1][2] Group 1: Investment and Strategic Collaboration - The investment is a significant step in Ormat's strategy to enhance its Enhanced Geothermal Systems (EGS) portfolio and capabilities, expected to accelerate the commercialization of advanced geothermal technologies [2] - Ormat and Carbon Direct Capital co-led the Series B financing, which will support Sage in developing its first commercial next-generation geothermal facility [1][2] Group 2: Technology Development - Sage plans to pilot its proprietary Pressure Geothermal technology at an existing Ormat power plant, focusing on extracting geothermal heat from hot dry rock to expedite the market entry of next-generation geothermal solutions [3] - Upon successful completion of the pilot, Ormat will have the rights to develop, build, own, and operate geothermal power plants and energy storage projects utilizing Sage's technology [3] Group 3: Company Overview - Ormat Technologies has over five decades of experience in the geothermal industry and is the only vertically integrated company engaged in geothermal and recovered energy generation, with plans to grow in the energy storage market [4] - The company currently has a total generating portfolio of 1,695 MW, including 1,310 MW from geothermal and solar generation, and a 385 MW energy storage portfolio located in the U.S. [4]

RENO, Nev., Jan. 15, 2026 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA) (the “Company” or “Ormat”), a leading geothermal and renewable energy company, today announced it has been awarded the Telaga Ranu Geothermal Working Area by the Government of Indonesia under the authority of the Ministry of Energy and Mineral Resources. The concession was awarded following a competitive tender process involving four qualified bidders and secures Ormat’s long-term rights to explore and develop the geothermal ...

RENO, Nev., Jan. 14, 2026 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA), a leading geothermal and renewable energy company, today announced that it plans to publish its fourth quarter and full year 2025 financial results in a press release that will be issued on Wednesday, February 25, 2026, after the market closes. In conjunction with this report, the Company has scheduled a conference call to discuss the results at 10:00 a.m. ET on Thursday, February 26, 2026. Participants within the United Sta ...

Core Insights - Ormat Technologies has signed a 20-year Power Purchase Agreement (PPA) with Switch, marking its first direct agreement with a data center operator, which emphasizes the company's capabilities in geothermal energy production and the increasing demand for sustainable energy solutions in the data center industry [1][4] Group 1: Agreement Details - Under the PPA, Switch will purchase approximately 13MW of clean, renewable energy from Ormat's Salt Wells geothermal power plant located near Fallon, Nevada [2] - Ormat has the option to expand the facility's output by adding an approximately 7MW Solar PV facility, which will support the auxiliary power needs of the geothermal power plant [2] - Energy deliveries under the PPA are set to commence in the first quarter of 2030, following a major upgrade to the Salt Wells power plant expected to be completed by the second quarter of 2026 [3] Group 2: Strategic Importance - The partnership with Switch not only advances their sustainability goals but also highlights the growing demand for renewable energy within the data center sector [4] - Ormat sees potential for future recontracting of over 100MW of its existing fleet under this framework, indicating opportunities for further expansion and new agreements to supply geothermal power to Switch [4] Group 3: Company Background - Ormat Technologies is a leading geothermal company with over five decades of experience, focusing on geothermal and recovered energy generation, and is vertically integrated in the industry [5] - The company has a total generating portfolio of 1,695MW, including 1,310MW from geothermal and solar generation, and a 385MW energy storage portfolio located in the U.S. [5] Group 4: Industry Context - Switch is recognized as a leader in the data center industry, providing modular, scalable, and sustainable data centers, which aligns with the increasing demand for AI and high-performance digital infrastructure [6]

Core Insights - Ormat Technologies reported strong financial results for Q3 2025, with total revenues increasing by 17.9% year-over-year to $249.7 million, driven by significant growth in the Product and Energy Storage segments [2][3][6] - The company experienced a 9.3% increase in net income attributable to stockholders, reaching $24.1 million, and an 8.3% rise in diluted EPS to $0.39 [2][6] - Ormat's strategic partnerships and portfolio expansion are expected to enhance its market position and drive future growth, particularly in Enhanced Geothermal Systems (EGS) [4][5][7] Financial Performance - Total revenues for Q3 2025 were $249.7 million, up from $211.8 million in Q3 2024, marking a 17.9% increase [2] - The Product segment saw a remarkable revenue increase of 66.6%, while the Energy Storage segment's revenues surged by 108.1% compared to the previous year [2][6] - Gross profit for the quarter was $64.0 million, an 8.8% increase from $58.9 million in Q3 2024, with a gross margin of 25.6% [2][6] Segment Performance - Electricity segment revenues increased by 1.5% to $167.1 million, benefiting from the acquisition of the Blue Mountain power plant and improved performance at the Dixie Valley facility [2][6] - The Product segment's backlog reached approximately $295 million, supported by a new contract signed in Q3 2025 [6][7] - The Energy Storage segment's revenue growth was attributed to new facilities coming online and higher merchant prices in the PJM market [6][7] Strategic Initiatives - Ormat announced a strategic collaboration with SLB to accelerate the development of Enhanced Geothermal Systems, aiming to meet the growing demand for clean energy [4][5] - The company signed a 25-year extension to its existing Power Purchase Agreement (PPA) with the Southern California Public Power Authority for 52MW from the Heber 1 geothermal facility [7] - New Geothermal Exploration and Energy Conversion Agreements were signed with the Indonesian utility PLN, covering up to 20 MW of geothermal capacity [7] Guidance and Outlook - The company updated its 2025 guidance, projecting total revenues between $960 million and $980 million and adjusted EBITDA between $575 million and $593 million [7] - Ormat expects continued demand growth driven by data centers and favorable regulatory developments, reinforcing confidence in achieving long-term growth and earnings targets [5][7]

Core Insights - Ormat Technologies and SLB have formed a partnership to accelerate the development and commercialization of integrated geothermal assets, particularly enhanced geothermal systems (EGS) [1][4] - The collaboration aims to streamline project deployment from concept to power generation, focusing on the design and construction of an EGS pilot project at an Ormat site [2][6] Company Overview - Ormat Technologies is a leading geothermal company with over six decades of experience, specializing in geothermal and recovered energy generation [6] - The company operates a total generating portfolio of 1,618 MW, which includes 1,268 MW from geothermal and solar generation across various countries [7] - SLB is a global technology company focused on energy innovation, with a presence in over 100 countries and a commitment to developing new energy systems [8] Project Details - The first joint demonstration project will develop new technologies and techniques for EGS, optimizing integration with surface facilities to enhance production and sustainability [4][5] - The U.S. Department of Energy estimates that next-generation geothermal could provide up to 90 GW by 2050, with a potential of 300 GW in the U.S. alone [5] Strategic Goals - The partnership aims to make both traditional hydrothermal and EGS technologies commercially viable and scalable to meet the growing global energy demand [5] - Following the pilot project, Ormat and SLB plan to pursue large-scale EGS commercialization for various customers, including independent power producers and data center operators [6]

Core Insights - Ormat Technologies, Inc. plans to release its third quarter financial results on November 3, 2025, after market close, followed by a conference call on November 4, 2025, at 09:00 a.m. ET [1] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over six decades of experience, recognized as the only vertically integrated company in geothermal and recovered energy generation (REG) [4] - The company owns and operates power plants with a total gross capacity of approximately 3,400 MW, and its current generating portfolio includes 1,618 MW, with 1,268 MW from geothermal and solar generation [4] - Ormat is expanding its activities into energy storage services and solar photovoltaic (PV) systems, aiming to establish a leading position in the U.S. energy storage market [4]

Core Insights - Ormat Technologies Inc. released its annual Sustainability Report, showcasing its commitment to sustainability and renewable energy [1][2] - The report emphasizes the company's progress in expanding renewable energy capacity and enhancing its environmental, social, and governance (ESG) performance [2][4] Sustainability Achievements - The 2024 Sustainability Report highlights significant achievements, including avoiding approximately 2,488,811 metric tons of CO2e emissions, which is over 11 times more than the emissions produced by the company [8] - The company met its annual target by reducing Scope 1 & 2 emissions intensity by an average of 5% compared to the base year [8] - Ormat contributed nearly $1 million to community initiatives across its global locations [8] Governance and Reporting Standards - The report is aligned with the Global Reporting Initiative (GRI) standards and the Sustainability Accounting Standards Board (SASB) requirements, as well as the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations [4] - The company aims to enhance transparency through comprehensive reporting and disclosures, thereby creating long-term value for stakeholders [4] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over six decades of experience [6] - The company operates a total generating portfolio of 1,618 MW, which includes 1,268 MW from geothermal and solar generation, and a 350 MW energy storage portfolio located in the U.S. [6] - Ormat is vertically integrated, engaging in geothermal and recovered energy generation, and is focused on accelerating growth in the energy storage market [6]

Core Insights - Ormat Technologies Inc. has successfully commenced commercial operations at its Lower Rio energy storage facility, a 60MW/120MWh Battery Energy Storage System located in Texas, under a seven-year tolling agreement [1][2][3] - The company has entered a Hybrid Tax Equity partnership with Morgan Stanley Renewables, Inc. to monetize the 40% Investment Tax Credit (ITC) for the Lower Rio project, resulting in approximately $25 million in proceeds [2][3] - With the addition of the Lower Rio facility, Ormat's total capacity in the U.S. now stands at 350MW/778MWh, contributing to its strategic growth in the energy storage segment [2][4] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over six decades of experience, focusing on geothermal and recovered energy generation [4] - The company operates a total generating portfolio of 1,618MW, which includes 1,268MW from geothermal and solar generation across various countries, and a 350MW energy storage portfolio in the U.S. [4] - Ormat aims to establish a leading position in the U.S. energy storage market, leveraging its core capabilities in geothermal and REG industries [4]

Core Insights - Ormat Technologies has signed a strategic commercial agreement with Sage Geosystems to enhance geothermal energy solutions and accelerate time to market for next-generation geothermal technologies [1][4] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over 60 years of experience, focusing on geothermal and recovered energy generation (REG) [5] - The company operates a total generating portfolio of approximately 1,558 MW, including 1,268 MW from geothermal and solar generation, and a 290 MW energy storage portfolio located in the U.S. [5] Collaboration Details - Under the agreement, Sage will pilot its advanced Pressure Geothermal technology at an existing Ormat power plant, aiming to improve operational efficiency and expedite the implementation of geothermal solutions [2][3] - Following the pilot's success, Ormat will have the rights to develop and operate geothermal power plants and energy storage projects using Sage's technology [3] Leadership Statements - Ormat's CEO expressed enthusiasm for the partnership, highlighting its alignment with the company's commitment to advancing geothermal energy solutions [4] - Sage's CEO noted that the collaboration represents a significant step in commercializing Pressure Geothermal technology, emphasizing the potential for innovation and sustainability in the energy sector [4][6]