Geothermal Energy Surges 8% on Earnings Surprise

U.S. geothermal and energy storage company Ormat Technologies Inc. (NYSE: ORA) closed at $123.81 on the New York Stock Exchange, up 7.79%, boosting its market capitalization by roughly $640 million (about KRW 900 billion) in a single day. Trading volume exceeded 1.48 million shares, bringing its current market cap to about $7.6 billion (around KRW 10 trillion).

In its first-quarter 2026 results announced yesterday, Ormat reported revenue of $403.9 million, a 75.8% year-over-year increase, while adjusted EBITDA rose 29.7%, marking its strongest quarterly performance to date. The company recognized approximately $105.1 million in revenue from the sale of the TOPP2 power plant in New Zealand and completed a $1 billion convertible bond issuance in March—equivalent to about KRW 1.4 trillion—to secure capacity for future project investments.

Headquartered in Nevada, Ormat Technologies is a renewable energy company specializing in the development and operation of geothermal power plants worldwide, as well as the supply of related equipment and energy storage solutions. Listed simultaneously on the New York Stock Exchange and the Tel Aviv Stock Exchange, Ormat is capitalizing on growing data center power demand and decarbonization policies to expand its long-term power purchase agreements and drive growth.