Ormat Invests $25M in Sage's Next-Gen Geothermal Series B, Secures 40 MW Indonesia Concession
Ormat invested $25 million in a $97 million-plus Series B round for Sage Geosystems, co-leading with Carbon Direct Capital to pilot its Pressure Geothermal technology at an Ormat plant and secure future EGS project rights. It also secured Indonesia’s Telaga Ranu concession adding 40 MW of capacity and lifting its geothermal pipeline toward 200 MW.
1. Ormat Co-Leads $25 Million Series B in Sage Geosystems
Ormat Technologies has committed a $25 million equity investment in an over $97 million Series B financing round for Sage Geosystems, co-leading the round alongside Carbon Direct Capital. The deal builds on a prior commercial agreement, granting Ormat rights to develop, build, own and operate geothermal power plants and energy storage projects using Sage’s proprietary Pressure Geothermal technology. Sage will pilot its system at an existing Ormat facility, targeting extraction of heat from hot dry rock and accelerating commercialization of next-generation geothermal solutions. This strategic investment advances Ormat’s Enhanced Geothermal Systems portfolio and leverages its global engineering, manufacturing and construction expertise across 3,600 MW of installed capacity.
2. Indonesia Concession Adds 40 MW Toward 200 MW Pipeline
Ormat has secured the Telaga Ranu geothermal concession in Indonesia, expected to deliver up to 40 MW of additional capacity. This award lifts Ormat’s global development pipeline to nearly 200 MW and strengthens its presence in Southeast Asia. The new project complements Ormat’s existing 1,310 MW geothermal and solar portfolio spread across six countries, as well as its 385 MW U.S. energy storage portfolio. With five decades of experience and vertical integration across design, manufacturing and operations, Ormat is positioned to accelerate project execution and long-term growth in emerging markets.