Ormat Technologies: How 325MW of New Storage Projects Could Redefine Its Growth Trajectory—What’s the Real Upside?

Ormat Technologies, a leader in geothermal and energy storage, reported strong results for the third quarter of 2025, driven primarily by advancements in its Energy Storage and Product segments. Total revenue for the quarter increased by 17.9% to $249.7 million compared to the same period last year, largely due to contributions from newly commissioned storage facilities and a growing product backlog. In light of these results, the company has adjusted its full-year 2025 revenue and adjusted EBITDA guidance upwards, highlighting the robust demand for its offerings. However, Ormat’s Electricity segment showed more modest growth, with revenues rising by only 1.5% to $167.1 million. The segment was hindered by challenges such as temporary lower generation at the Stillwater facility due to ongoing enhancement work and reduced output at the Imperial Valley assets after a grid failure caused by storms.