Ormat Technologies: Geothermal Specialist Shines with 76% Revenue Growth
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Ormat is engaged in active discussions with hyperscalers for geothermal power plants. PPA contracts with Google and Switch have already been secured under favorable conditions. Pilot projects on the innovative EGS technology will start in 2027 during testing phases. This is aimed at expanding the addressable market potential. In the first quarter, special effects from volatile electricity markets and large projects drove a 76% growth, leading to a revenue record. By the end of 2028, capacities are expected to expand to up to 2.8 GW. ...
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