Ormat Technologies, Inc. - ORA STOCK NEWS

Ormat Technologies (NYSE: ORA) has commenced commercial operations of the 10 MW/40 MWh Vallecito Battery Energy Storage System (BESS) in California. Under a 20-year agreement with Southern California Edison (SCE), Vallecito BESS will enhance local resource adequacy and provide ancillary services. This facility marks Ormat's second BESS in California, with further projects in various stages of development. Ormat aims to support California's transition to 100% emissions-free energy by 2045, leveraging its expertise in energy storage alongside its geothermal and recovered energy generation initiatives.

Orange Business Services has been named a preferred partner by GÉANT for the Open Clouds for Research Environments (OCRE) project, aimed at boosting cloud adoption within European research. This partnership will allow Orange to market public cloud services to National Research Education Networks (NREN) and over 8,000 institutions, benefiting around 50 million users. The project focuses on enhancing security and collaboration through Orange's Flexible Engine platform, which is also set to integrate with the GAIA-X ecosystem, promoting a unified European data infrastructure.

Amcor has advanced its operational efficiency by consolidating corporate applications into a hybrid cloud environment alongside an upgrade of its enterprise resource planning (ERP) tools. Partnering with Orange Business Services, Amcor aims to enhance application reliability and security through a fully managed hybrid cloud solution. This integration supports SAP HANA and allows effective workload management, ensuring business continuity and operational efficiency. The hybrid cloud also optimizes Amcor's existing network infrastructure to manage increasing internet traffic.

Ormat Technologies (NYSE: ORA) has issued a statement refuting claims made by Hindenburg Research, labeling them as inaccurate and misleading. The company highlights its commitment to ethical operations, supported by extensive due diligence from multinational banks financing its renewable energy facilities in Kenya, Honduras, and Guatemala. Ormat is monitoring ongoing investigations concerning board members linked to prior employment but asserts its strong performance and strategic direction, emphasizing a robust long-term growth plan in the geothermal and energy storage sectors.

Ormat Technologies, Inc. (NYSE: ORA) reported a 64.2% increase in net income attributable to stockholders for Q4 2020, totaling $20.7 million, or $0.39 per diluted share. Revenue for the quarter was $179.4 million, a 6.8% decline from Q4 2019. The electricity segment saw a slight revenue increase of 1.3%, while product revenues decreased by 37.5%. The company announced a 9% increase in its quarterly dividend to $0.12 per share. Looking ahead, 2021 revenue guidance is set between $640 million and $675 million.

KONE has enhanced its partnership with Orange Business Services by migrating its global contact center solution to the cloud. This move aims to improve user experience and streamline customer support worldwide. The transition to cloud infrastructure provides benefits such as scalability, flexible omnichannel capabilities, and enhanced security. KONE will have five contact center hubs globally, covering 35 sites across all continents. This digital transformation is expected to optimize customer support services and foster future innovation.

Orange Business Services is set to design and build a new data center to support cloud services for Egypt’s New Administrative Capital. Collaborating with Orange Egypt, appointed as the prime contractor, the project aims to enhance ICT infrastructure in the new city, which is expected to host eight million residents. The data center will provide secure services for smart traffic, utilities management, and innovative solutions, with an investment of over $135 million. Operations are scheduled to commence in the first half of 2021.

Orange has announced the launch of its 5G Labs initiative, aiming to support businesses in testing and developing 5G technologies. A study revealed that 72% of companies seek operator support for 5G. The initiative will feature seven sites in France and expand to other European countries by mid-2021, including Romania and Belgium. It provides hands-on learning about 5G, testing opportunities under real conditions, and access to technical support from experts. This strategic move is part of Orange's broader goal to facilitate digital transformation and drive innovation in various sectors.

Ormat Technologies Inc. (NYSE: ORA) will announce its fourth quarter and year-end 2020 financial results on February 24, 2021, after market close. A conference call to discuss these results and future growth expectations is scheduled for February 25, 2021, at 9 a.m. ET. Interested participants can join by dialing specific numbers or through a live webcast on the company’s Investor Relations website. Ormat Technologies, known for its geothermal and recovered energy generation, has operated for over 50 years and has a generating portfolio of 933 MW globally.