SEC Comment Letter 0000000000-24-012177 to ORMAT TECHNOLOGIES, INC. (ORA) (CIK 0001296445) (ORA)
ORMAT TECHNOLOGIES, INC. (ORA) (CIK 0001296445)
Date: Nov. 1, 2024 · CIK: 0001296445 · Accession: 0000000000-24-012177
AI Filing Summary & Sentiment
File numbers found in text: 001-32347
Letter
November 1, 2024 Assaf Ginzburg Chief Financial Officer Ormat Technologies, Inc. 6140 Plumas Street Reno, NV 89519 Re:Ormat Technologies, Inc. Form 10-K for the fiscal year ended December 31, 2023 Filed February 23, 2024 File No. 001-32347 Dear Assaf Ginzburg: We have limited our review of your filing to the financial statements and related disclosures and have the following comment(s). Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-K for the fiscal year ended December 31, 2023 Financial Statements Note 11- Long-Term Debt, Credit Agreements and Finance Liability Don A. Campbell Senior Secured Notes - Non-Recourse, page 148 1.We note the disclosures here and on page 95 stating that covenants for the DAC 1 Senior Secured Notes have not been met, which resulted in certain restrictions of equity distributions by the subsidiary ORNI 47. Please disclose the amount of retained earnings or net income restricted or free of restrictions and include all of the applicable disclosures required by Rule 4-08(e) of Regulation S-X.
November 1, 2024 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Brian McAllister at 202-551-3341 or Raj Rajan at 202-551-3388 with any questions. Sincerely, Division of Corporation Finance Office of Energy & Transportation
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November 1, 2024
Assaf Ginzburg
Chief Financial Officer
Ormat Technologies, Inc.
6140 Plumas Street
Reno, NV 89519
Re:Ormat Technologies, Inc.
Form 10-K for the fiscal year ended December 31, 2023
Filed February 23, 2024
File No. 001-32347
Dear Assaf Ginzburg:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comment(s).
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments.
Form 10-K for the fiscal year ended December 31, 2023
Financial Statements
Note 11- Long-Term Debt, Credit Agreements and Finance Liability
Don A. Campbell Senior Secured Notes - Non-Recourse, page 148
1.We note the disclosures here and on page 95 stating that covenants for the DAC 1
Senior Secured Notes have not been met, which resulted in certain restrictions of
equity distributions by the subsidiary ORNI 47. Please disclose the amount of retained
earnings or net income restricted or free of restrictions and include all of the
applicable disclosures required by Rule 4-08(e) of Regulation S-X.
November 1, 2024
Page 2
In closing, we remind you that the company and its management are responsible for
the accuracy and adequacy of their disclosures, notwithstanding any review, comments,
action or absence of action by the staff.
Please contact Brian McAllister at 202-551-3341 or Raj Rajan at 202-551-3388 with
any questions.
Sincerely,
Division of Corporation Finance
Office of Energy & Transportation