Ormat Releases 2022 Sustainability Report
October 12 2023 - 4:01PM
Ormat Technologies, Inc. (NYSE: ORA), a leading renewable energy
company, today released the Company’s annual Sustainability Report,
providing an overview of the Company’s environmental, social and
governance (ESG) performance in 2022.
The 2022 Sustainability report has been updated
and structured to enhance the clarity of Ormat’s ESG-related
activities. The report includes a detailed chapter on each of our
environmental, social, and governance measures, initiatives, and
activities, and it is written according to GRI (Global Reporting
Initiative) and guided by SASB’s (Sustainability Accounting
Standards Board) requirements and recommendations.
Doron Blachar, CEO of Ormat Technologies,
stated, “As a global renewable energy company, and a leader in the
geothermal technology space, sustainability has always been a focus
at Ormat and we play an important role in the global fight against
climate change. Our Sustainability report highlights the progress
we’ve made in developing more sustainable practices globally, and
it also showcases how we operate the business in an ethical and
inclusive manner. ESG has always been embedded in our company’s
culture, and we remain committed to addressing critical energy and
climate challenges and the advancement of our employees and members
of the communities where we operate.”
Ormat’s 2022 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 1,277 MW with a 1,107
MW geothermal and solar generation portfolio that is spread
globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and
Guadeloupe, and a 170 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, but not
limited to, statements about expectations in connection with the
Company’s ESG plans, initiatives, projections, goals, commitments,
expectations or prospects, including targets and goals, are
forward-looking statements. When used in this press release, the
words “may”, “will”, “could”, “should”, “expects”, “plans”,
“anticipates”, “believes”, “estimates”, “predicts”, “projects”,
“thinks”, “forecasts”, “guidance”, “continue”, “goal”, “outlook”,
“potential”, “prospect”, “target” 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.
Forward-looking statements about “target” or “targeted” amounts
represent current goals of Ormat’s management and are neither
estimates of Ormat’s actual results nor financial projections or
forecasts that have been prepared in accordance with Securities and
Exchange Commission rules or guidelines adopted by the American
Institute of Certified Public Accountants. These forward-looking
statements are not intended to be a guarantee of future results,
but instead constitute Ormat’s current expectations based on
assumptions that Ormat currently believes are reasonable. You are
cautioned not to place undue reliance on the expectations,
projections and other forward-looking statements as actual future
results and developments may differ materially from such
expectations, projections and forward-looking statements due to a
number of risks, uncertainties and other factors, many of which are
beyond Ormat’s control. These risks uncertainties and other factors
include, but are not limited to, our assumptions not being
realized, our ability to execute our strategies in the time frame
expected or at all, changing government regulations, scientific or
technological developments, climate-related conditions and weather
events, our ability to gather and verify data regarding
environmental impacts, the compliance of various third parties with
our polices and procedures and our expansion into new products,
services and geographic regions, as well as the risks,
uncertainties and other factors 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 24, 2023,
and in Ormat’s subsequent quarterly reports on Form 10-Q 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:Smadar LaviVP Head of IR and ESG
Planning & Reporting 775-356-9029 (ext.
65726)slavi@ormat.com |
|
Investor Relations Agency Contact:Alec Steinberg or Joseph
CaminitiAlpha IR Group312-445-2870ORA@alpha-ir.com |
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