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Ormat Technologies Inc - ORA STOCK NEWS

Welcome to our dedicated news page for Ormat Technologies (Ticker: ORA), a resource for investors and traders seeking the latest updates and insights on Ormat Technologies.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Ormat Technologies's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Ormat Technologies's position in the market.

News
Ormat Technologies, Inc. to Host Conference Call Announcing First Quarter 2024 Financial Results
Rhea-AI Summary
Ormat Technologies Inc. (ORA) plans to release its first quarter financial results on May 8, 2024, followed by a conference call on May 9, 2024. Investors can access the call and webcast through the Company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.41%
Tags
conferences earnings
-
News
Ormat Technologies Signs PPA for a New Geothermal Power Plant in Guadeloupe
Rhea-AI Summary
Ormat Technologies, Inc. (NYSE: ORA) signs a 30-year Power Purchase Agreement with Electricité de France (EDF) for a new 10MW geothermal power plant in Guadeloupe, expanding its presence in the region. The project is expected to be operational by the end of 2025, increasing Ormat's total geothermal capacity in the Caribbean to 35MW. The agreement reflects Ormat's commitment to clean energy development and sustainability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.21%
Tags
none
-
News
Ormat Technologies Reports Fourth Quarter and Year-End 2023 Financial Results
Rhea-AI Summary
Ormat Technologies, Inc. (NYSE: ORA) reported a 77.8% increase in annual diluted EPS and a 25.0% increase in annual adjusted diluted EPS compared to the prior year. The company is on track to meet its 2026 generating capacity goals of 2.1 to 2.3 GW. Total revenues for the fourth quarter increased by 17.4% year-over-year, driven by growth in both the electricity and product segments. Operating income saw a significant increase of 70.8% for the fourth quarter and 9.0% for the full year compared to 2022. Ormat also announced a full year 2024 adjusted EBITDA outlook of $515 to $545 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.81%
Tags
earnings
News
Ormat Secures Approval for PPA Amendments Between Its Puna Geothermal Venture and Hawaiian Electric
Rhea-AI Summary
Ormat Technologies, Inc. secures approval from Hawai’i Public Utilities Commission for amended PPA, enabling an additional 8 MW of clean, dispatchable renewable power. The approval guarantees fixed energy rates, decoupled from oil prices, ensuring stable revenue and fixed energy costs for ratepayers. The PPA extension consolidates two agreements into one, with a term extending through 2052.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.8%
Tags
none
-
News
Ormat Technologies, Inc. to Host Conference Call Announcing Fourth Quarter and Year End 2023 Financial Results
Rhea-AI Summary
Ormat Technologies Inc. (NYSE: ORA) plans to release its fourth quarter and full year 2023 financial results on February 21, 2024, followed by a conference call on February 22, 2024, to discuss the results. The call will be accompanied by a webcast live on the Investor Relations section of the Company's website. A replay will be available after the call.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.28%
Tags
conferences earnings
-
News
Ormat Completed the Acquisition of Contracted Operating Geothermal and Solar Assets From Enel Green Power North America
Rhea-AI Summary
Ormat Technologies, a leading renewable energy company (NYSE: ORA), has closed the acquisition of geothermal and solar assets from Enel Green Power North America for $271 million. The acquired portfolio includes two geothermal power plants, a triple hybrid geothermal, solar PV, and solar thermal power plant, two solar assets, and two greenfield development assets. The transaction was funded through available cash and $200M in newly issued long-term corporate debt. Ormat expects the acquisition to be immediately accretive to both revenues and EBITDA, and plans to enhance the performance of the assets through operational initiatives.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.02%
Tags
acquisition
News
Ormat Secures 15-Year Energy Storage Service Agreement With San Diego Community Power for Pomona 2 Energy Storage Facility
Rhea-AI Summary
Ormat Technologies, Inc. (NYSE: ORA) has signed a 15-year Energy Storage Service Agreement (ESSA) with San Diego Community Power (SDCP), California’s second largest community choice aggregator, for the 20MW/40MWh Pomona 2 Battery Energy Storage System (BESS) located in Los Angeles County, California. The Pomona 2 project, operational since July 2023, represents Ormat's commitment to growing its energy storage segment through the delivery of innovative solutions and storage services. This agreement marks the second tolling agreement in the Company’s expanding portfolio, following the 2022 Bottleneck contract. These agreements contribute to the growth of a stable, profitable and predictable revenue stream for Ormat’s energy storage segment, with over 40% of the segment’s revenue expected to be contracted starting the second half of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.37%
Tags
none
-
News
Ormat Signed Historic 25-Year Power Purchase Agreement With Dominica Electricity Services Ltd.
Rhea-AI Summary
Ormat Technologies, Inc. (NYSE: ORA) expands its presence in the Caribbean by signing a 25-year Power Purchase Agreement (PPA) with Dominica Electricity Services Ltd. (DOMLEC) for the development of a 10 MW binary geothermal power plant in Dominica. The project is expected to be operational by the end of 2025, strengthening Ormat's global presence and supporting its long-term growth plans.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.34%
Tags
none
-
News
Ormat Technologies Reports Third Quarter 2023 Financial Results
Rhea-AI Summary
Ormat Technologies, Inc. (NYSE: ORA) announced an 18.3% increase in total revenues for Q3 2023, demonstrating confidence in its business outlook. Adjusted EBITDA expanded by 15.8%, and net income attributable to stockholders grew by 95.8%. The company raised $166 million in Q4, and signed strategic acquisition and partnership agreements to accelerate expansion plans.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.19%
Tags
earnings
News
Ormat to Acquire Contracted Operating Geothermal and Solar Assets in Nevada, Utah, and Connecticut for $271 Million
Rhea-AI Summary
Ormat Technologies plans to acquire a 150 MW portfolio of renewable energy assets for $271 million. The portfolio includes geothermal and solar power plants, as well as greenfield development projects. Ormat expects to enhance and optimize the existing assets to generate additional revenue and EBITDA. The acquisition supports Ormat's growth plans and commitment to sustainable energy solutions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.2%
Tags
acquisition
Stock ORA logo
Ormat Technologies Inc

NYSE:ORA

ORA Rankings

#1354 Ranked by Market Cap
#3956 Ranked by Stock Gains
#1919 Ranked by Dividends

ORA Stock Data

3.88B
53.55M
0.42%
100.38%
5.45%
Geothermal Electric Power Generation
Utilities
Link
US
Reno

About ORA

with over five decades of experience, ormat technologies, inc. is a leading geothermal company and the only vertically integrated company solely engaged in geothermal and recovered energy generation (reg), with the objective of becoming a leading global provider of renewable energy. the company owns, operates, designs, manufactures and sells geothermal and reg power plants primarily based on the ormat energy converter - a power generation unit that converts low-, medium- and high-temperature heat into electricity. with 69 u.s. patents, ormat’s power solutions have been refined and perfected under the most grueling environmental conditions. ormat has 470 employees in the united states and over 600 overseas. ormat’s flexible, modular solutions for geothermal power and reg are ideal for the vast range of resource characteristics. the company has engineered, manufactured and constructed power plants, which it currently owns or has installed to utilities and developers worldwide, totaling o