Ormat Releases 2021 Sustainability Report
August 31 2022 - 4:15PM
Ormat Technologies, Inc. (NYSE: ORA) (“Ormat,” the “Company,” “we”
or “us”), a leading geothermal, energy storage, solar PV and
recovered energy power company, today released the Company’s 2021
Corporate Sustainability Report, providing an overview of the
Company’s environmental, social and governance (ESG) performance in
2021.
The 2021 Sustainability report has been newly
updated and structured to enhance the clarity of Ormat’s
ESG-related activities. The content has been restructured to
include a chapter for each pillar of the ESG framework with
expanded data collection to ensure accuracy and transparency for
readers, stakeholders, and investors. Ormat’s 2021 Sustainability
Report is the fourth iteration that the Company has published that
is written in accordance with the GRI standards. The 2021 report is
also the second to be guided by reporting standards from the
Sustainability Accounting Standards Board (SASB) after introducing
that standard into the Company’s disclosures last year.
“This year we took a step forward in managing
ESG-related topics that are relevant to Ormat and we intend to
continue our improvement and sustainability disclosures as we
advance on our path towards a zero-emission future,” said Doron
Blachar, CEO of Ormat. “Since our founding, sustainability and
increasing the amount of renewable energy in our systems have been
our primary focuses and we are proud that our efforts are lowering
greenhouse gas emissions while bringing breakthrough technologies
and solutions to the world’s electricity grids. We look forward to
making a positive impact for all our stakeholders and playing an
even larger role in the renewable energy sector on a global scale
in the future.”
Ormat’s 2021 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 1,168 MW with a 1,080
MW geothermal and solar generation portfolio that is spread
globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and
Guadeloupe, and an 88 MW energy storage portfolio that is located
in the U.S.
ORMAT’S SAFE HARBOR STATEMENT
Information provided in this press release may
contain statements relating to current expectations, estimates,
forecasts and projections about future events that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that we expect or
anticipate will or may occur in the future, including such matters
as our projections of annual revenues, expenses and debt service
coverage with respect to our debt securities, future capital
expenditures, business strategy, competitive strengths, goals,
development or operation of generation assets, market and industry
developments and the growth of our business and operations, are
forward-looking statements. When used in this press release, the
words “may”, “will”, “could”, “should”, “expects”, “plans”,
“anticipates”, “believes”, “estimates”, “predicts”, “projects”,
“potential”, or “contemplate” or the negative of these terms or
other comparable terminology are intended to identify
forward-looking statements, although not all forward-looking
statements contain such words or expressions. These forward-looking
statements generally relate to Ormat's plans, objectives and
expectations for future operations and are based upon its
management's current estimates and projections of future results or
trends. Although we believe that our plans and objectives reflected
in or suggested by these forward-looking statements are reasonable,
we may not achieve these plans or objectives. Actual future results
may differ materially from those projected as a result of certain
risks and uncertainties and other risks described under "Risk
Factors" as described in Ormat’s annual report on Form 10-K filed
with the Securities and Exchange Commission (“SEC”) on February 25,
2022, and in Ormat’s subsequent quarterly reports on Form 10-Q and
annual reports on Form 10-K that are filed from time to time with
the SEC.
These forward-looking statements are made only
as of the date hereof, and, except as legally required, we
undertake no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events
or otherwise.
Ormat Technologies Contact: |
Investor Relations Agency Contact: |
Smadar
Lavi |
Sam Cohen or
Joseph Caminiti |
VP Head of
IR and ESG Planning & Reporting |
Alpha IR
Group |
775-356-9029
(ext. 65726) |
312-445-2870 |
slavi@ormat.com |
ORA@alpha-ir.com |
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