Ormat Technologies, Inc. announced its second quarter 2025 financial results on August 6, 2025, reporting record second-quarter revenue with a 9.9% increase and a 26.1% rise in net income.
The company achieved a record Adjusted EBITDA with a 6.7% improvement, driven by the recovery of its Product segment revenue and margin, and improved performance in the Energy Storage segment.
The Electricity segment's revenue and EBITDA were negatively impacted by approximately $13 million and $12 million, respectively, due to planned well field work at the Puna Power plant and third-party curtailments in the U.S.
Ormat secured $300 million in funding for future project development, including $139 million from tax equity proceeds and $161 million from project finance at attractive rates, with most cash proceeds expected in the second half of the year.
The company also released 50 MW of new projects for construction, including 28 MW of geothermal and 22 MW of solar projects mainly at its Heber complex, benefiting from accelerated permit approvals.
The Board of Directors declared a quarterly dividend of $0.12 per share, payable on September 3, 2025, to stockholders of record as of August 20, 2025.
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