STOCK TITAN

Ormat Tech - ORA STOCK NEWS

Welcome to our dedicated page for Ormat Tech news (Ticker: ORA), a resource for investors and traders seeking the latest updates and insights on Ormat Tech stock.

Ormat Technologies (NYSE: ORA) delivers renewable energy solutions through geothermal power, recovered energy generation, and grid-scale storage systems. This news hub provides investors and industry professionals with essential updates on operational milestones, financial performance, and technological advancements.

Access authoritative coverage of ORA's electricity generation projects, equipment innovations, and energy storage deployments. Our curated news collection features earnings announcements, regulatory filings, partnership developments, and project commissioning updates – all critical for evaluating the company's market position.

Key focus areas include geothermal plant expansions, energy converter technology enhancements, and storage system optimizations. Track ORA's progress in vertical integration strategies and international market penetration through verified press releases and objective analysis.

Bookmark this page for streamlined access to ORA's evolving renewable energy initiatives. Regular updates ensure you maintain current awareness of operational developments impacting long-term value creation in the clean energy sector.

Rhea-AI Summary

Ormat Technologies (NYSE: ORA) has signed a 15-year Resource Adequacy Purchase and Sale Agreement with the City of Riverside for the 80MW/320MWh Shirk Battery Energy Storage System in Visalia, California. This agreement marks Ormat's first storage contract with Riverside and the city's first long-term RA Agreement. The project, expected to be eligible for a 40% Investment Tax Credit, has a guaranteed commercial operation date of March 1, 2026, which Ormat believes can be achieved by the end of 2025.

This agreement aligns with Ormat's strategic growth focus on key U.S. markets like California and supports the transition of its Energy Storage business to a higher-growth segment with balanced contracted revenues. The Shirk project demonstrates Ormat's commitment to expanding its Energy Storage segment and enhancing its execution capabilities in the renewable energy sector.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.34%
Tags
none
-
Rhea-AI Summary

Ormat Technologies (NYSE: ORA), a prominent renewable energy company, will release its second quarter financial results on August 6, 2024, after market close. The company will host a conference call to discuss these results at 9:00 a.m. ET on August 7, 2024. U.S. and Canadian participants can dial 1-888-770-2286, while international callers can use +1-646-960-0440 with access code 9122486. A live webcast of the call will be available on Ormat's Investor Relations website, with a replay accessible one hour after the call ends. The replay will be available at 1-800-770-2030 (U.S. and Canada) or +1-647-362-9199 (international) using the same access code. The webcast will also be archived for future reference.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.42%
Tags
conferences earnings
-
Rhea-AI Summary

Ormat Technologies (NYSE: ORA) will host an Investor and Analyst Day on June 20, 2024, at the New York Stock Exchange. The event will start at 08:00 a.m. EDT with a breakfast gathering, followed by presentations from the executive team at 09:00 a.m. EDT. Executives will outline Ormat's long-term strategy, growth framework, and updated financial objectives. A Q&A session will follow the presentations. The event will be webcast live and can be accessed on Ormat's Investor Relations website, where a replay will also be available.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.62%
Tags
conferences
Rhea-AI Summary

Ormat Technologies, Inc. reported a 21.0% increase in total revenues for Q1 2024, led by growth across all operating segments. The company achieved record quarterly electricity revenues of $191.3 million, driven by strategic portfolio expansions. Ormat reiterated its full-year revenue and EBITDA guidance, demonstrating confidence in its business outlook.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.64%
Tags
-
Rhea-AI Summary
Ormat Technologies Inc. (ORA) plans to release its first quarter financial results on May 8, 2024, followed by a conference call on May 9, 2024. Investors can access the call and webcast through the Company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.41%
Tags
conferences earnings
-
Rhea-AI Summary
Ormat Technologies, Inc. (NYSE: ORA) signs a 30-year Power Purchase Agreement with Electricité de France (EDF) for a new 10MW geothermal power plant in Guadeloupe, expanding its presence in the region. The project is expected to be operational by the end of 2025, increasing Ormat's total geothermal capacity in the Caribbean to 35MW. The agreement reflects Ormat's commitment to clean energy development and sustainability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.21%
Tags
none
Rhea-AI Summary
Ormat Technologies, Inc. (NYSE: ORA) reported a 77.8% increase in annual diluted EPS and a 25.0% increase in annual adjusted diluted EPS compared to the prior year. The company is on track to meet its 2026 generating capacity goals of 2.1 to 2.3 GW. Total revenues for the fourth quarter increased by 17.4% year-over-year, driven by growth in both the electricity and product segments. Operating income saw a significant increase of 70.8% for the fourth quarter and 9.0% for the full year compared to 2022. Ormat also announced a full year 2024 adjusted EBITDA outlook of $515 to $545 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.81%
Tags
-
Rhea-AI Summary
Ormat Technologies, Inc. secures approval from Hawai’i Public Utilities Commission for amended PPA, enabling an additional 8 MW of clean, dispatchable renewable power. The approval guarantees fixed energy rates, decoupled from oil prices, ensuring stable revenue and fixed energy costs for ratepayers. The PPA extension consolidates two agreements into one, with a term extending through 2052.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.8%
Tags
none
-
Rhea-AI Summary
Ormat Technologies Inc. (NYSE: ORA) plans to release its fourth quarter and full year 2023 financial results on February 21, 2024, followed by a conference call on February 22, 2024, to discuss the results. The call will be accompanied by a webcast live on the Investor Relations section of the Company's website. A replay will be available after the call.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.28%
Tags
conferences earnings
Rhea-AI Summary
Ormat Technologies, a leading renewable energy company (NYSE: ORA), has closed the acquisition of geothermal and solar assets from Enel Green Power North America for $271 million. The acquired portfolio includes two geothermal power plants, a triple hybrid geothermal, solar PV, and solar thermal power plant, two solar assets, and two greenfield development assets. The transaction was funded through available cash and $200M in newly issued long-term corporate debt. Ormat expects the acquisition to be immediately accretive to both revenues and EBITDA, and plans to enhance the performance of the assets through operational initiatives.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.02%
Tags
Ormat Tech

NYSE:ORA

ORA Rankings

ORA Stock Data

4.34B
60.31M
0.49%
94.61%
4.73%
Utilities - Renewable
Electric Services
Link
United States
RENO