Ormat Technologies, Inc. (NYSE: ORA) has announced its fourth-quarter and full-year 2024 financial results, showcasing continued revenue growth and expansion in geothermal and renewable energy capacity. The company remains on track to achieve its target generating capacity of 2.6 to 2.8 GW by 2028, reinforcing its long-term sustainability strategy.
Key Financial Highlights
- Total Revenue: [Awaiting full report details], reflecting continued growth in renewable energy operations.
- Adjusted EBITDA: Increased due to strong performance across geothermal, energy storage, and solar segments.
- Generating Capacity Expansion: The company remains on pace to reach its 2.6–2.8 GW target by 2028.
Strategic Growth Initiatives
- Geothermal Expansion:
- Ormat continues to expand its geothermal portfolio globally, with recent project completions and new developments in the U.S., Kenya, and Indonesia.
- Energy Storage Investments:
- The company is scaling its battery storage business, supporting grid stability and increasing revenue diversification.
- Long-Term Sustainability Goals:
- Ormat remains committed to clean energy innovation, aligning with global decarbonization and net-zero targets.
2025 Outlook & Industry Positioning
With rising demand for renewable energy solutions, Ormat Technologies is well-positioned for continued growth, driven by:
- New project developments in geothermal and energy storage.
- Potential acquisitions and strategic partnerships.
- Strong financial performance supporting long-term expansion.
Ormat’s solid 2024 results reinforce its momentum, making it a key player in the transition toward sustainable energy solutions.
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