Ormat Technologies(US:ORA)2025-05-08 13:35Financial Performance - Revenues increased by 2.5% to $229.8 million compared to Q1 2024[17, 27] - Adjusted EBITDA increased by 6.4% to $150.3 million compared to Q1 2024[16, 24, 34] - Net income attributable to the Company's stockholders increased by 4.6%[16] - EPS/Adj EPS increased by 3.1% / 4.6%[24] - The company successfully raised $200 million of new debt in Q1 2025[44, 45] Segment Performance - Electricity revenues decreased by 5.8% to $180.2 million compared to Q1 2024[30] - Products revenues increased by 27.9% to $31.8 million compared to Q1 2024[30] - Storage revenues increased by 119.7% to $17.8 million compared to Q1 2024[15, 30, 66] - Energy Storage gross margin increased by +2,310 bps vs Q1 2024[71] Growth and Development - The company expects approximately $160 million in annual cash proceeds from tax benefits[42] - The company signed an agreement to acquire the 20MW Blue Mountain geothermal power plant from Cyrq Energy for $88 million[15, 60] - The company is negotiating PPAs for 250MW with hyperscalers at rates above $100/MWh[57, 94] - The company is targeting 2.6GW to 2.8GW of generating capacity by 2028[93]