Geothermal Energy

Ormat Technologies secured up to $35 million in funding from the U.S. Department of Energy to advance geothermal projects in Nevada and Utah, despite recent downward pressure on its stock.

Ormat Technologies reported second-quarter results that exceeded analyst expectations for both profit and revenue. Following these positive results, the company raised its revenue forecast for 2026.

The geothermal energy producer is raising its annual forecast to up to $1.2 billion following strong second-quarter reports, alongside an unusual jump of almost 200% in its energy storage activity worldwide.