Ormat Technologies, Inc.
Capital Structure
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in mil. unless spec.Company Description
- CEO
- Doron Blachar
- Full Time Employees
- 1,648
- Sector
- Utilities
- Industry
- Electric utilities
- Address
- 6884 Sierra Center Parkway Reno NV United States 89511-2210
- IPO Date
- Nov 11, 2004
- CIK
- 0001296445
- Website
- ormat.com
- Similar Companies
- Business
- Ormat Technologies, Inc. (NYSE: ORA) operates as a vertically integrated renewable energy company focused on geothermal and recovered energy generation, energy storage, and solar photovoltaic solutions; it develops, builds, owns, and operates geothermal power plants, recovered energy generation (REG) plants utilizing waste heat from industrial processes, grid-scale battery energy storage systems including the recently operational 60MW/120MWh Lower Rio facility, and hybrid solar PV plus storage projects; the company also designs, manufactures, and sells geothermal power generation equipment such as turbines and Ormat Energy Converters, provides engineering, procurement, and construction services for turnkey power plants, and offers operations and maintenance services to utilities, independent power producers, industrial facilities, grid operators, and energy-intensive sectors worldwide. Founded in 1965 and headquartered in Reno, Nevada, Ormat maintains a global presence with over 1.5 GW of generating capacity including 1,248 MW of geothermal and solar assets across the United States, Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, alongside 290 MW of U.S.-based energy storage; its electricity segment sells power under long-term purchase agreements, while the product segment supports a $295 million backlog and the energy storage segment delivers capacity, energy, and ancillary services. Recent developments include the June 2025 acquisition of the 20MW Blue Mountain geothermal power plant from Cyrq Energy for $88 million, expanding electricity segment capacity to 1,268 MW with planned 3.5 MW upgrades and potential 13 MW solar addition; a May 2025 $62 million hybrid tax equity partnership with Morgan Stanley Renewables for Lower Rio and Arrowleaf storage-solar projects; strategic collaborations announced in 2025 with SLB for enhanced geothermal systems (EGS) pilot development and commercialization targeting data centers and utilities, and with Sage Geosystems for pressure geothermal technology pilots enabling new plant rights; $300 million in secured funding for project development; a 25-year PPA extension for the 52 MW Heber 1 facility through 2052; and raised 2025 guidance to $960-$980 million in revenue with product and energy storage revenues surging 66.6% and 108.1% respectively in Q3.
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