Thank you, Assi.
power plants increased at look Power lower facilities declined portfolio. This at Olkaria X.X% last compared our OREG a our our for year. XX generation Slide by due plant. curtailment to in is power in operating decline generation Turning to the mainly to and
hour compared plants generation to portfolio our the the segment stands XX remain year. existing megawatts megawatt last addition However, of enhancement. the XXX slide, detailed our on of performance main completion following their This based with compared adjusted and rate as the revenues XXX electricity megawatts year, We $XX.X higher year, power $XX.X last of the capacity in to Steamboat current Complex was this per megawatts on average of for Steamboat unchanged the at year.
eruption currently capacity, noted XX Kilauea at November, low and Puna output the operations resumed megawatts. In after As at capacity operating now it of is to November volcano, XX, on years X.X XX-megawatt in the generating eruption. before the XXXX, its generating reached relative Slide Puna
middle continue to We the during the of our We second generation Puna drilling Puna increase we by field production wells, this full and of of power work at year. to expect and new target close quarter recovery XXXX.
entire and operating insurance front, $X.X million other XXXX, the proceeds. under income. were collected cost of The balance million $XX.X recorded we the the for insurance On in revenues
counsel we to We are our paid be to rest still of what with collect working the should us. believe
on XX to fund international an specifically Turning update and our for in Slide Kenya.
continued curtailment one driver main million to which the the Kenya COVID reduction quarter increased there lower curtailment to compared our XXXX. was revenue prior the year. of compared earlier, on The approximately frequency first KPLC, discussed to to had the in in operations X into $X.X relates in impacts As of fourth a in by quarters
tax reducing important encouraged also Kenyan million. Kenya, impact the assessment the in period originally the from Also of amount. reached issues KPLC had settlement tax collection quarter all agreement with period main concluding that are the addressed cover audit favorable achievement, the open to XXXX. by X Full $XXX financial continues within in tax the to the a and improved XXXX, We XXXX audits totaling the for authorities settlement we was overdue related The an recorded from assessment fourth extended the XXXX. through
update on XX Slide backlog. an for to Turning our
world segment being of the the by projects impacted COVID-XX our delayed. with our customers' has pandemic, product the been business part around most Our
Turkey short a coming a anticipate we However, we months. than feed-in announced. phenomenon. it was tariff, is to tariff is it, we lower expect and previous believe although In in market potential adapt feed-in to new the this term But new in the Turkey, projects the
segment's As our our of segment We for was weakness our lower February guidance product XX, revenue backlog significantly as XXXX, recent continued XXXX a years. than this $XX is in million. and backlog product anticipate result,
full model only components can our we business initiatives to third-party the resources the in enables storage internal segment bring part projects resources of to structure, is and integrated extend is manufacturing Our and means on We our industry. of key This while to XXXX efficiently develop already segment electricity quarter for XX% relates will in projects. Ormat at company and our the transition from us components as online our XXXX. the shift our tapped resilient growth. more by to geothermal year integrated can a manufacturing products. over focusing We using internal and for also This energy customers increased over company-owned help which energy capacity vertically and than to to XXXX. vertically it allocate this in Inter-segment better well expertise. development revenues started storage XXX% support see expertise XXXX is second effectively our more as construction
feed our are expenses. manufacturing able result, segment, capacity to we a unutilized also As avoiding at
profitable, we along firmly year, electricity we become storage we markets On weather our the conditions to Storage, remarks. see supply, energy caused to Slide as his that around financial the of segment improvement in XX-megawatt will to Texas offsetting demand services which facility XX, in commissioned record energy in electricity. However, and This Rabbit as reduction in been more on for to in a February Partially products and pandemic abates, Assi XX, world. demand auxiliary presented Texas, increasing Ormat. wholesale optimization the provides managed by the with continues storage Hill abnormal believe grow discussed the has for consistent Energy business. weakness product evolve, the our
represents in in nonrecurring in that caused ability the Some floating the we record $XX the XXXX. results financial inability XX% February not extreme contracted Rabbit to facility risk exposure. rate, approximately This with also QX for of to acquisition this is unfolding, facility times, at revenue prices volume a high. to Texas, completed weather asset the the to operate in the the our acquisitions: The revenue This limited that power goal million hourly provide EBITDA revenue XX, X company In this due during charge power grid the electricity recent Due expect order of exchanging facility megawatt to reduce California, signed REG assess for energy of dollars our in our in emergency unfolding power a the associated decades. resulted of and that and which until transaction to of which storage and XX our electricity in fixed Hill of business services. in the one this per contribute our reach electricity events hour, February margins resulted to Pomona, Hill conditions record to operating alert, hourly under that for event all-time increase to loss thousands the still XXXX, could merchant profit; of ERCOT fixed of these market hedge probably loss and an Rabbit worst from of REG one REG shocks Starting in is business. development, supply, are U.S. shortage up an was end Upton the a minimize year, hedge. the from will the to in we second facility shift is at growth to
is generating the conventional and employees, of energy. our the business our replaces Before I we life, briefly the support like and would our discussion commitment emissions future plans, this Sustainability sustainable to I a took step emitting our Slide growth and forms in on move to to by year environment, core saving our XX. community to energy discuss our that of of way clean
the who medical to this the off COVID-XX. any communities Honduras and have importance. protective energy thousands for Our is Kenya, presented work employees adhering of element globally. XXXX, not people to ability employees, and sustainability Ormat and did live, and health measures in corporate that and government aligns we large to our elsewhere. plans supplies. and success Ormat donating a employee and special safeguard due on In and outbreak, energy global we hospitals Also, equipment protective do values emissions Accordingly, protective pandemic includes utmost of portfolio facility, offices workforce. business which clear, pandemic, the of contractors goal work U.S. our our maintaining strict Throughout safety communities of our In and our personal every in safety. the manufacturing projects, we aiding to to Guatemala, with necessary comprehensive we operate, regulations of beginning This are to key investing we strategy. measures the environment stakeholder increase plants, create created in to further and lay We employees our social followed saves part all and health engage the believe Since depends the our in clean in and food
XX. Slide to Moving
of mentioned year, mainly of geothermal call, comprising beginning this build will I be up at As XXXX the significant projects.
megawatts to comprising over portfolio date geothermal, X solar XXX XX REG, and Our operating stands of at of gigawatt, storage. XX of megawatts X megawatts of of hybrid megawatt energy
contribution regulatory as our portfolio subject to with XX%, energy business, the have This a the required total We storage obtaining approvals significant increase from growth and a completing XXXX as of construction by plants following as well these planned. development and in power to almost plan all detailed is permitting increase the robust slide. as by
Moving to Slide XX.
is our approximately enhance by XXX target the previous XXXX, of our by XXX megawatts are the XX of increase of to to of of representing from XXX and and by increase we our by energy total megawatts to of Our increase estimate megawatts megawatts and up represents growing storage planning In XXXX end a the of to the medium-term to XX%. end XXXX. XXXX. set to This between portfolio, growth electricity up between our capacity to for XXX previous goal XXX growth rapidly XXXX, to a approximately our portfolio segment we increase compared significant megawatts end to add XXX% XXX
may Additionally, for plans. majority additional comprise secured growth M&A we projects believe the these our viability. slide see potential The affirm and activities. XXXX that resource increase XX underway of displays the PPA coming already the majority next that We from we projects of long-term
The due that due the Heber that Slide to geothermal was is These of XX timing COVID-XX. first mainly additional change of permitting challenges to electricity our prospects in expected of the the navigated projects pandemic to changes has of pipeline during for exploration. had segment hold While in are XXXX, and different operation long-term half online. coming growth. commercial we current stages well, some CDX delays shows we caused the are a and
Moving XX to and Slide XX.
of from we storage facilities segment. construction. layer plan have comes XX energy energy Slide second our or storage The the demonstrates growth started announced
growth The obviously economic different the other interconnection and a will to projects included require and are plans release of agreement, site development, all justification. in control subject stages of execution in our
which of current Slide with of updated potential which capacity XX, projects named a include Our gigawatt, is development. in XX presented in total pipeline X different frequently, over potential stages are
believe I by seeking. this can of XXX that pipeline potential end to This that earlier, develop in between we proactively any are As mainly mentioned and we New excludes XXX XXXX, from M&A California. target we activities add-on for megawatts the Jersey Texas,
credits. Slide growth $XXX our will electricity robust this to The over To cash growth, both of XX. million next Moving couple years. in storage fund significant lines investments and cash available of have the segments and restricted we and and require over of
capital storage; to power Please our plant; and includes well new the power enhancements positioned total Our Overall, capital of Ormat liquidity for and access Slide XXXX XXXX XX excellent management $XXX construction facilities appendices. geothermal, to including in Puna Slide XX additional to to work our solar is fund a our future capital detailed ample expense projects at discussion expected of initiatives. the turn capital production guidance. as with million readies in enhancement maintenance for plant that for for our approximately to of existing expenditures, geothermal of construction; expenditure for and
between our full electricity We million will revenue includes bring $XXX million to $XXX million in close power million. revenue meet mid-XXXX. and electricity in from Hawaii, segment's plans it and segment Puna plant of million, with to The expect total operations $XXX we $XX assuming between the $XXX
million energy be revenue storage between million. segment's million. $XX product expected $XX $XX to expect million and for between $XX is to We Revenue
million. between EBITDA to $XXX million $XXX expect We adjusted and be
expect be EBITDA attributable to million. We minority adjusted approximately to interest $XX annual
for package XXXX, the tax credit energy United Moving a the credit December, of and to geothermal, production extensions beneficial wave investment and the tax and renewable projects. last recovered slide. XXXX the of in to energy included The to the States. renewable solar projects, winter Congress brought In including storage legislation industry
storage Upton storage facilities, the functioning the legislation facility we of for can storage not were a facilities December that our benefit be the determined to the believe from for did energy credit facility it. provide eligible related tax stand-alone While to ITC, energy solar and
flexibility provision this next on harbor X to developers This construction safe will addition, the more developers projects get over for going renewable from claim encourage tax XX energy to to extended decade. credit renewable In was years. enhanced
comment Finally, CPUC, a California and XXXX few on days requesting XXXX. issued new XXXX the geothermal of procurements long Public Utility for proposal storage and Commission, duration ago, between each megawatts the a a ruling
integration way to capital. sources deliver is applying with partial a approach, vertical business. XXXX our XXXX annual year, to of profitability stable inherent build-up XXXX electricity with onwards. to growth this happen is going the to a storage access applicable forward EBITDA strong as million the With of be capital we as foundation and our move and plans for that geothermal the to in through business solid also using our of risk continue will business the end a rate mitigation, accelerating that to and This with goal position to our $XXX merchant diversification, of portfolio geothermal of our maintaining a shows tailwind our growth support, reach in we significant our various expect This storage grow the adjusted accelerated by towards in storage run goal
our to concludes are details and of plans prepared remarks. in expect goal. an year, We the our EBITDA growth where planning our storage Analyst likely segments, in electricity we the May more goals in this and Day conduct adjusted This discuss achieving to
Now I questions. open would call Operator? to for like the
