Ormat Technologies, Inc.: Capacity Expansion in Core Segments As A Critical Factor Driving Growth!

Ormat Technologies Inc.’s financial results for 2024 indicate a solid performance with top-line growth across all business segments, though with some setbacks. The company reported a year-over-year revenue increase of 6.1%, reaching $879.7 million, and an adjusted EBITDA growth of 14.3%. The Electricity segment was buoyed by the acquisition of Enel assets and performance improvements in certain plants, although U.S. curtailment and an outage at Dixie Valley negatively impacted the fourth-quarter performance. Strategic new power purchase agreements (PPAs) with higher rates demonstrate robust demand for geothermal energy.