Ormat Technologies, Inc.

Ormat Technologies, Inc. is a leading global provider of renewable energy solutions, primarily focused on geothermal and recovered energy generation, alongside a growing presence in energy storage. The company operates as a vertically integrated entity, involved in the exploration, development, design, manufacturing, ownership, and operation of power plants. Headquartered in Reno, Nevada, Ormat's mission is to generate, deliver, build, and distribute clean, efficient, reliable, and environmentally sound energy.

Ormat's core business is segmented into Electricity, Product, and Energy Storage. The Electricity segment encompasses the development, ownership, and operation of geothermal, solar photovoltaic (PV), and recovered energy-based power plants, selling the generated electricity. The Product segment focuses on designing, manufacturing, and selling equipment, such as the proprietary Ormat Energy Converter, for geothermal and recovered energy power plants, and providing related engineering, procurement, and construction (EPC) services. The Energy Storage segment offers grid-connected, stand-alone Battery Energy Storage System (BESS) facilities, providing capacity, energy, and ancillary services to the electric grid. The company serves a diverse customer base including utilities, independent power producers, industrial clients, and governments worldwide.

Under the leadership of CEO Doron Blachar, Ormat Technologies reported strong financial performance in 2025, with total revenues increasing by 12.5% to $989.6 million, driven by significant growth in its Product and Energy Storage segments. The company is strategically expanding its generating capacity, with plans to reach approximately 2.7 GW by 2028. Ormat is recognized as the largest global producer of geothermal energy and is increasingly positioned to capitalize on the surging demand for reliable, 24/7 baseload power from sectors like AI and data centers, having recently signed long-term Power Purchase Agreements (PPAs) to support such operations, including with Google.