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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.

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Ormat Technologies, Inc. (NYSE: ORA) has signed a 15-year Energy Storage Service Agreement (ESSA) with San Diego Community Power (SDCP), California’s second largest community choice aggregator, for the 20MW/40MWh Pomona 2 Battery Energy Storage System (BESS) located in Los Angeles County, California. The Pomona 2 project, operational since July 2023, represents Ormat's commitment to growing its energy storage segment through the delivery of innovative solutions and storage services. This agreement marks the second tolling agreement in the Company’s expanding portfolio, following the 2022 Bottleneck contract. These agreements contribute to the growth of a stable, profitable and predictable revenue stream for Ormat’s energy storage segment, with over 40% of the segment’s revenue expected to be contracted starting the second half of 2024.
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Ormat Technologies, Inc. (NYSE: ORA) expands its presence in the Caribbean by signing a 25-year Power Purchase Agreement (PPA) with Dominica Electricity Services Ltd. (DOMLEC) for the development of a 10 MW binary geothermal power plant in Dominica. The project is expected to be operational by the end of 2025, strengthening Ormat's global presence and supporting its long-term growth plans.
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Ormat Technologies, Inc. (NYSE: ORA) announced an 18.3% increase in total revenues for Q3 2023, demonstrating confidence in its business outlook. Adjusted EBITDA expanded by 15.8%, and net income attributable to stockholders grew by 95.8%. The company raised $166 million in Q4, and signed strategic acquisition and partnership agreements to accelerate expansion plans.
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Ormat Technologies plans to acquire a 150 MW portfolio of renewable energy assets for $271 million. The portfolio includes geothermal and solar power plants, as well as greenfield development projects. Ormat expects to enhance and optimize the existing assets to generate additional revenue and EBITDA. The acquisition supports Ormat's growth plans and commitment to sustainable energy solutions.
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Ormat Technologies releases annual Sustainability Report
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Ormat Technologies Inc. plans to publish its Q3 2023 financial results on November 8, 2023, after the market closes. A conference call to discuss the results is scheduled for November 9, 2023, at 10:00 a.m. ET.
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Ormat Technologies signs new contracts for the supply and construction of a geothermal power plant in New Zealand, making it the largest pure binary power plant in the country and one of the top-5 largest globally. Ormat's advanced geothermal equipment will power nearly 45% of New Zealand's geothermal energy market. The new project will double the size of the expected third quarter backlog in the Company's Products segment.
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Ormat Technologies secures multi-year battery supply contract with Gotion High-Tech, boosting confidence in storage projects and capacity goals.
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Ormat Technologies celebrates 20 years of listing on NYSE, CEO rings opening bell
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Ormat Tech

NYSE:ORA

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4.34B
60.31M
0.49%
94.61%
4.73%
Utilities - Renewable
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