The brief

Analyst view

• Ormat operates 1.5 GW of geothermal and energy storage capacity across the US, Central America and Indonesia.
• Developing EGS with Sage Geosystems at Blue Mountain to create artificial heat reservoirs in hot rock.
• Project Vector EGS pilot at Blue Mountain, Nevada begins drilling Q4 2026; first power targeted 2027.

Technical approach

As reported

Conventional Geothermal

Heat from underground reservoirs

Ormat drills into naturally hot aquifers, extracts hot water and steam to turn turbines, then reinjects cooled water.

EGS

Artificial reservoirs in hot rock

EGS drill deep into hot rock, fracture it hydraulically, and circulate water through the network to extract heat.

Energy Storage

Battery storage and thermal systems

Ormat expands into energy storage to smooth output from renewable sources, with H1 2026 revenue of $87.7 million, up 172% year-over-year.