ORA 📈 Ormat Technologies - Overview

Ormat Technologies Inc, a company listed on the New York Stock Exchange under the ticker ORA, operates in the renewable energy sector, focusing on geothermal and recovered energy power. Its presence spans multiple countries, including the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, and Honduras, showcasing its global footprint in the industry. The company's business is divided into three main segments: Electricity, Product, and Energy Storage, each catering to different aspects of the renewable energy and power generation markets.

The Electricity segment is pivotal, as it involves the development, construction, ownership, and operation of power plants that utilize geothermal, solar photovoltaic, and recovered energy sources. This segment generates revenue through the sale of electricity, highlighting the company's role in contributing to the global shift towards renewable energy sources. Ormat's expertise in geothermal energy, in particular, positions it uniquely in the market, given the potential of geothermal power to provide baseload electricity, a capability that complements intermittent solar and wind power effectively.

The Product segment is another crucial part of Ormat's business, where the company designs, manufactures, and sells specialized equipment for geothermal and recovered energy-based electricity generation. This segment also offers a range of services, including engineering, procurement, construction, operation, and maintenance of power plants, catering to a diverse client base. This includes contractors, owners and operators of natural gas pipelines, gas processing plants, cement plants, and other energy-intensive industrial processes, demonstrating the versatility and applicability of Ormat's technology and services across various industries.

Ormat's foray into the Energy Storage segment underscores its commitment to providing comprehensive solutions in the renewable energy space. By offering battery energy storage systems and related services, the company addresses the intermittency challenge associated with solar and wind power, enabling a more stable and reliable supply of electricity. This move aligns with the global trend towards integrating energy storage with renewable energy sources to enhance grid resilience and facilitate a broader adoption of clean energy technologies.

Founded in 1965 and headquartered in Reno, Nevada, Ormat Technologies Inc has a long history of innovation and adaptation in the energy sector. With its web presence at https://www.ormat.com and listed as a common stock under the ISIN US6866881021, the company falls under the GICS Sub Industry of Renewable Electricity, reflecting its core business and strategic focus on contributing to a sustainable energy future.