Record Second Quarter Revenue
Ormat reported a record second quarter revenue with a 9.9% increase, reaching $234 million, driven by recovery in the product segment and improved performance of the energy storage segment.
Substantial Growth in Net Income
Net income rose by 26.1%, demonstrating the company's strong financial performance and resilience.
Significant Increase in Product and Energy Storage Segments
Product segment revenues increased by 57.6% and energy storage segment revenues grew by 62.7% year-over-year.
Successful Tax Equity and Project Finance Transactions
Secured $300 million in funding through tax equity transactions and project finance debt, supporting future development.
Expansion and Development Initiatives
Completion of Blue Mountain geothermal power plant acquisition and release of new projects including 28 MW of geothermal and 22 MW of solar projects.