Ormat Technologies Inc

LSE:0KDH

Ormat Technologies builds and runs power plants that generate electricity from geothermal heat and from waste heat recovered from industrial processes and engines. It also sells equipment and engineering services for customers that want to develop their own geothermal or energy-recovery projects. In simple terms, Ormat turns underground heat and wasted heat into usable power. Its main customers are electric utilities, independent power producers, industrial companies, and governments or developers that need reliable low-carbon electricity. Ormat makes money in two main ways: by owning power plants and selling electricity under long-term contracts, and by selling plant equipment, parts, and project services to other operators. That mix gives it both a utility-style business and an equipment business. What makes Ormat different is its focus on geothermal power, which is a steady source of renewable electricity that does not depend on sunlight or wind. The company also has a strong role in the energy value chain because it designs the technology, helps build the plants, and in many cases keeps owning and operating them. That makes Ormat both a manufacturer and a power producer in a niche part of the clean energy market.