Ormat Releases 2022 Sustainability Report

Company Continues Its Commitment to Corporate Responsibility and Sustainability

RENO, Nev., Oct. 12, 2023 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA), a leading renewable energy company, today released the Company’s annual Sustainability Report, providing an overview of the Company’s environmental, social and governance (ESG) performance in 2022.

The 2022 Sustainability report has been updated and structured to enhance the clarity of Ormat’s ESG-related activities. The report includes a detailed chapter on each of our environmental, social, and governance measures, initiatives, and activities, and it is written according to GRI (Global Reporting Initiative) and guided by SASB’s (Sustainability Accounting Standards Board) requirements and recommendations.

Doron Blachar, CEO of Ormat Technologies, stated, “As a global renewable energy company, and a leader in the geothermal technology space, sustainability has always been a focus at Ormat and we play an important role in the global fight against climate change. Our Sustainability report highlights the progress we’ve made in developing more sustainable practices globally, and it also showcases how we operate the business in an ethical and inclusive manner. ESG has always been embedded in our company’s culture, and we remain committed to addressing critical energy and climate challenges and the advancement of our employees and members of the communities where we operate.”

Ormat’s 2022 Sustainability Report is available on the Sustainability section of the Company’s website at https://www.ormat.com.

ABOUT ORMAT TECHNOLOGIES

With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,200 MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company’s activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat’s current total generating portfolio is 1,277 MW with a 1,107 MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 170 MW energy storage portfolio that is located in the U.S.