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RENO, Nev. - Ormat Technologies, Inc. (NYSE: ORA), a prominent geothermal and renewable energy company with a market capitalization of $4.53 billion, announced the expansion of its management team with two new appointments aimed at driving growth in its electricity segment and enhancing Enhanced Geothermal System (EGS) initiatives. According to InvestingPro data, the company currently trades at premium multiples relative to its peers, reflecting market confidence in its growth strategy. The company appointed Aron Willis as Executive Vice President, Electricity Segment, and Daniel Moelk as Senior Vice President, Resources, Drilling, & EGS.
Willis took on his new role on Monday, leading the operations of the Electricity Segment to align with the company’s strategic goals and financial targets. His responsibilities include optimizing plant performance, implementing advanced AI tools, and ensuring compliance with safety and environmental regulations. Willis brings over 25 years of experience in the power generation industry, including senior roles at TransAlta Corporation and Northwest Digital Power.
Moelk will join the company in July 2025 to lead the Resources, Drilling, and EGS teams, focusing on creating efficiencies and developing Ormat’s drilling and exploration roadmap. He brings nearly 18 years of operations and drilling management experience within the geothermal industry, including executive positions at Eavor Technologies Inc and other prominent organizations.
Doron Blachar, CEO of Ormat Technologies, expressed confidence in the new appointees, stating their backgrounds will be invaluable in supporting the company’s innovation and growth. Blachar also extended gratitude to Shimon Hatzir for his 36 years of service and contributions to Ormat, wishing him well in his retirement.
Ormat Technologies is known for its vertically integrated structure in geothermal and recovered energy generation, with plans to expand in the energy storage market. The company owns and operates a diverse portfolio of energy assets with a total generating capacity of 1,538MW globally. With annual revenues of $885.25 million and a track record of maintaining dividend payments for 21 consecutive years, Ormat demonstrates strong operational stability. InvestingPro analysis reveals 6 additional key insights about the company’s performance and valuation metrics.
These appointments reflect Ormat’s commitment to advancing strategic objectives for generation growth and profitability, with a particular focus on EGS development. With the next earnings announcement scheduled for July 30, 2025, and analyst price targets ranging from $75 to $100 per share, investors can access comprehensive analysis and Fair Value estimates through InvestingPro’s detailed research reports, available as part of the platform’s coverage of over 1,400 US stocks.
In other recent news, Ormat Technologies reported its first-quarter 2025 earnings, showcasing a strong performance. The company exceeded market expectations with an earnings per share (EPS) of $0.66, surpassing the forecast of $0.5963. Revenue for the quarter reached $229.8 million, slightly above the anticipated $228.54 million, marking a 2.5% year-over-year increase. In a strategic move, Ormat entered a $62 million Hybrid Tax Equity partnership with Morgan Stanley Renewables Inc. This partnership involves the Lower Rio energy storage facility and the Arrowleaf project, which are expected to commence operations by the end of 2025.
Additionally, Ormat announced an agreement to acquire the 20 MW Blue Mountain geothermal power plant from Silk Energy for $88 million. This acquisition is anticipated to close by the end of the second quarter. The company plans to upgrade this plant, adding 3.5 MW of capacity by 2027, along with a 13 MW solar installation, subject to permitting and PPA approval. Ormat’s strategic initiatives continue to focus on expanding its geothermal and energy storage capabilities, with a target of reaching 2.6 to 2.8 gigawatts of generating capacity by 2028. These recent developments highlight Ormat’s commitment to leveraging financial mechanisms and strategic acquisitions to support its growth objectives in the renewable energy sector.
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