The Financial Performance of Ormat Technologies, an Israeli Affiliated Energy Company

According to Ormat Technologies Inc.’s performance report, the U.S.-based energy company with close ties to Israel recorded revenue of US$249.7 million in the third quarter of 2025. At an exchange rate of Rp16,884 per US$, this is equivalent to Rp4.21 trillion.

This revenue represents a 17.9% year-on-year (YoY) increase from the same period last year, which was US$211.8 million or Rp3.57 trillion.

Ormat Technologies’ income was primarily driven by electricity (US$167.11 million), followed by products (US$62.24 million) and energy storage (US$20.37 million).

On a cumulative basis for January–September 2025, total revenue reached US$713.5 million or Rp12.04 trillion.

From this revenue, net income attributable to the parent company’s shareholders amounted to US$24.1 million or Rp406.90 billion.

Net income rose about 9% YoY from Q3 2024, when it was US$22.1 million or Rp373.13 billion.

For the full nine months of 2025, net income reached US$92.5 million or Rp1.56 trillion.

Doron Blachar, CEO of Ormat Technologies, stated that in recent quarters, the energy storage and products segments have continued to grow.

“Revenue for this quarter in these two segments increased by 108.1% and 66.6%, respectively, while also showing significant margin improvement,” he said in a statement on the company’s website.

Meanwhile, the electricity segment’s results this quarter benefited from portfolio expansion, particularly the recent acquisition of the Blue Mountain power plant, as well as improved performance at the Dixie Valley facility, both located in Nevada, U.S.

“This contribution helped offset a combined negative impact of US$5.5 million due to a power outage caused by the September storm in Imperial Valley, California,” he added.

Ormat Technologies’ business network is not limited to the U.S.; the company also has a presence in Indonesia.

It signed two Geothermal Exploration and Energy Conversion Agreements (GEECA)—a new type of Power Purchase Agreement (PPA)—with PLN.

“Each agreement covers up to 20 MW of geothermal capacity in Indonesia,” the company stated.

Under these agreements, Ormat will carry out exploration drilling, financing, design, construction, installation, and operation of geothermal power plants (PLTP) under a BOT (build, operate, transfer) scheme for 23 years.

“PLN will reimburse successful drilling costs and has the option to acquire up to 30% equity ownership in the projects,” Ormat Technologies wrote.