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 signed a $62 million Hybrid Tax Equity partnership with Morgan Stanley Renewables, Inc. to support its energy storage projects [1][2] - The partnership includes the Lower Rio 60MW/120MWh storage facility and the Arrowleaf 35MW/140MWh storage and 42MW solar projects, which are expected to achieve Commercial Operation Date (COD) by the end of 2025 [1][2] - The CEO of Ormat emphasized the importance of this partnership in optimizing project economics and supporting long-term growth, aiming to monetize $160 million in tax benefits this year [2] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over six decades of experience [3] - The company is vertically integrated, involved in the entire process from design to operation of geothermal and recovered energy generation (REG) power plants [3] - Ormat's total generating portfolio is 1,538MW, which includes 1,248MW from geothermal and solar generation and a 290MW energy storage portfolio located in the U.S. [3]