M&A - ORMAT TECHNOLOGIES, INC.

Form Type: DEF 14A

Filing Date: 2025-03-27

Corporate Action: Acquisition

Type: New

Accession Number: 000130817925000240

Filing Summary: On March 27, 2025, Ormat Technologies, Inc. highlighted its recent achievements and future directions in a comprehensive proxy statement. A key highlight was the completion of an acquisition of a portfolio of geothermal and solar assets from Enel Green Power North America, positioning the company for further growth in its Electricity Segment in the U.S. The statement emphasized Ormat's commitment to renewable energy, reporting a strong performance in 2024 with net income and earnings per share exceeding expectations. The company also outlined expectations for upcoming projects, including new geothermal power plants and energy storage solutions. Additional highlights included successful operations of new storage projects and a focus on the advancement of geothermal energy as a baseload energy source amidst growing energy demands. The proxy statement set the stage for the Annual Meeting of Stockholders scheduled for May 7, 2025, where key proposals will be voted upon, reinforcing a collaborative approach with shareholders for sustainable growth.

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