Ormat Technologies

Company Overview

Snapshot

Founded in January 1965, Ormat Technologies is a public company with over 1,000 employees. The company has raised a total of $900 million across five funding rounds. In March 2023, Ormat Technologies conducted a public offering on the NYSE, raising $300 million.

Business overview

Ormat Technologies is a vertically integrated geothermal company that specializes in exploring, drilling, designing, building, manufacturing, owning, financing, and operating geothermal power plants. The company's core technology includes the Ormat Recovered Energy Generation unit, which utilizes organic Rankine cycle technology to convert industrial waste heat into power for on-site consumption or grid sale, and is also applied in energy storage solutions globally. Ormat Technologies serves the renewable energy sector, providing base load electricity 24/7 with high reliability and minimal emissions, and operates across the geothermal industry's value chain.

Strategic signal

In October 2025, Ormat Technologies partnered with SLB to accelerate integrated geothermal asset development and enhanced geothermal systems. This collaboration signals a strategic move to combine expertise in geothermal energy with advanced technology, aiming to drive innovation and expand the reach of sustainable energy solutions within the industry.

Company Intelligence Q&A

What was a significant recent operational milestone for Ormat Technologies?

In September 2025, Ormat Technologies commenced commercial operation of its Lower Rio Energy Storage Facility, delivering 60MW/120MWh of energy storage capacity. This expands the company's energy storage capabilities and contributes to renewable energy infrastructure.

What strategic partnership did Ormat Technologies announce in October 2025?

In October 2025, Ormat Technologies partnered with SLB to accelerate integrated geothermal asset development and enhanced geothermal systems. This collaboration aims to advance geothermal energy solutions.

Did Ormat Technologies extend any power purchase agreements recently?

In September 2025, Ormat Technologies extended a 25-year Power Purchase Agreement (PPA) with SCPPA to provide renewable energy to Southern California, reinforcing its long-term commitment to regional energy supply.

What was a key development regarding Ormat Technologies' energy storage facilities in October 2024?

In October 2024, Ormat Technologies commenced commercial operation of its Bottleneck Storage Facility in California, delivering 80MW/320MWh of energy storage capacity.

What was a notable acquisition target for Ormat Technologies in October 2023?

In October 2023, Ormat Technologies announced plans to acquire contracted operating geothermal and solar assets in Nevada, Utah, and Connecticut for $271 million, expanding its portfolio of renewable energy assets.