Ormat Technologies Reports Record Q3 2026 Adjusted EBITDA Driven by Energy Storage Growth
Ormat Technologies (ORA) reported strong third-quarter 2026 financial results, highlighted by a record adjusted EBITDA of $153.8 million, an 11.1% increase year-over-year. Total revenue rose 10.2% to $275.1 million, fueled significantly by the energy storage segment, which saw revenue surge 145.2% due to high asset availability and favorable merchant pricing in the PJM market. Despite a slight decline in electricity segment revenue caused by a hurricane-related outage at the Puna plant, the company expanded its Enhanced Geothermal Systems (EGS) land position to 170,000 acres. Ormat provided optimistic full-year guidance, projecting revenue between $1.17 billion and $1.2 billion, representing nearly 20% growth compared to 2025.
Topics: EBITDA Energy Storage Financial Guidance Geothermal Energy Revenue Growth