Ormat Tech (ORA) Stock News

Ormat Technologies (NYSE: ORA) has secured a significant 25-year extension to its existing power purchase agreement (PPA) with the Southern California Public Power Authority (SCPPA). The agreement, effective February 2026, covers 52MW of power from the Heber 1 geothermal facility in Southern California's Imperial Valley.

The extended PPA will supply clean, baseload geothermal energy to the Los Angeles Department of Water and Power (LADWP) and Imperial Irrigation District (IID). The Heber 1 facility, recently upgraded with air-cooled technology, is part of the larger Heber complex that delivers 91MW of carbon-free, 24/7 electricity. The agreement ensures continuous service through 2052, with the facility expected to power over 77,000 Los Angeles households.

Ormat Technologies (NYSE: ORA) reported strong Q2 2025 financial results, with total revenues increasing 9.9% to $234.0 million and net income rising 26.1% to $28.0 million. The company's adjusted EBITDA grew 6.7% to $134.6 million.

Key developments include the acquisition of the 20MW Blue Mountain geothermal power plant and securing $300 million in funding for future development. The Product segment showed significant improvement with 57.6% revenue growth, while Energy Storage revenues surged 62.7%. However, the Electricity segment saw a 3.8% decline due to planned maintenance and curtailments.

Ormat reiterated its 2025 guidance, projecting total revenues between $935-975 million and adjusted EBITDA of $563-593 million. The company declared a quarterly dividend of $0.12 per share.

Ormat Technologies (NYSE:ORA), a leading geothermal and renewable energy company, has scheduled its Second Quarter 2025 financial results announcement for Wednesday, August 6, 2025, after market close.

The company will host a conference call to discuss the results on Thursday, August 7, 2025, at 10:00 a.m. ET. Investors can access the call using the following details: US/Canada dial-in: 1-800-715-9871, International dial-in: +1-646-960-0440, Access code: 3818407. A live webcast will be available on Ormat's Investor Relations website, with replay options available one hour after the call.

Ormat Technologies has completed its acquisition of the Blue Mountain geothermal power plant from Cyrq Energy for $88 million, adding 20MW to its electricity generation portfolio. The Nevada-based facility, originally built with Ormat technology, currently operates under a Power Purchase Agreement with NV Energy that expires in 2029. Ormat plans strategic upgrades to increase the plant's capacity by 3.5MW and aims to add a 13MW solar facility for auxiliary support, subject to permits and PPA approval. The acquisition, funded through bank debt, brings Ormat's total electricity segment generating portfolio to 1,268MW. The company sees potential for additional value through future PPA renewal and planned asset improvements.

Ormat Technologies (NYSE: ORA) announced two key executive appointments to strengthen its leadership team. Aron Willis, with over 25 years of power generation experience, joins as Executive Vice President of the Electricity Segment effective June 4, 2025. He will oversee operations, optimize plant performance, and implement AI tools. Daniel Moelk, bringing 18 years of geothermal industry expertise, will become Senior Vice President of Resources, Drilling & EGS in July 2025, focusing on implementing innovative technologies and developing the global drilling roadmap. Both executives will report directly to CEO Doron Blachar. The appointments coincide with the retirement of Shimon Hatzir after 36 years of service. Ormat, a vertically integrated geothermal company, currently maintains a 1,538MW generating portfolio, including 1,248MW of geothermal and solar generation globally and a 290MW energy storage portfolio in the U.S.

Ormat Technologies (NYSE: ORA) has secured a $62 million Hybrid Tax Equity partnership with Morgan Stanley Renewables for two energy storage facilities. The partnership covers the Lower Rio 60MW/120MWh storage facility and the Arrowleaf project, which combines 35MW/140MWh storage with 42MW solar capacity. Both projects are expected to be operational by end-2025.

This landmark partnership represents Ormat's first Hybrid Tax Equity arrangement for its Energy Storage portfolio and aims to help the company achieve its goal of monetizing $160 million in tax benefits in 2025. The deal strengthens Ormat's ability to invest in its development pipeline and capitalize on Investment Tax Credits (ITCs) through 2026.

Ormat Technologies (NYSE:ORA) has agreed to acquire the Blue Mountain geothermal power facility in Nevada from Cyrq Energy for $88 million. The facility generates approximately 20MW of net power capacity and has a long-term power purchase agreement with Nevada Power Company, a subsidiary of NV Energy.

The sale aligns with Cyrq Energy's five-year strategic plan, enabling the company to focus on project development and generate greater financial flexibility. Cyrq Energy will continue to operate its other geothermal power plants in Nevada, Utah, and California, including Soda Lake, Patua, Thermo, and Hudson Ranch facilities.

Ormat Technologies (NYSE: ORA) reported strong Q1 2025 financial results with total revenues increasing 2.5% to $229.8 million and net income rising 4.6% to $40.4 million. The company achieved a record quarterly Adjusted EBITDA of $150.3 million, up 6.4% year-over-year. Notable performance included the Energy Storage segment's 120% revenue growth and Product segment's 27.9% revenue increase, though Electricity segment revenues declined 5.8%. Ormat announced the acquisition of the 20MW Blue Mountain geothermal power plant for $88 million, with plans to upgrade capacity by 3.5MW and add a 13MW solar facility. The company reiterated its 2025 guidance, projecting total revenues between $935-975 million and Adjusted EBITDA of $563-593 million. A quarterly dividend of $0.12 per share was declared.

Ormat Technologies (NYSE: ORA), a leading geothermal and renewable energy company, has scheduled the release of its first quarter 2025 financial results on Wednesday, May 7, 2025, after market close.

The company will host a conference call to discuss the results on Thursday, May 8, 2025, at 09:00 a.m. ET. U.S. and Canadian participants can dial 1-800-715-9871, while international callers should use +1-646-960-0440 with access code 3818407. The call will include a live webcast available on the company's Investor Relations website. A replay will be accessible via phone and webcast archive.