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Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE TABLE



												Value of Initial Fixed $100 Investment Based On(4)


Year(1)			Summary Compensation Table Total for PEO (2) ($)			Compensation Actually Paid to PEO (3) ($)		Average Summary Compensation Table Total for Other NEOs(1) ($)		Average Compensation Actually Paid to Other NEOs(3) ($)		Total Shareholder Return ($)		Peer Group Total Shareholder Return(5) ($)		Net Income ($000)		Adjusted EBITDA(6) ($000)


(a)			(b)			(c)		(d)		(e)		(f)		(g)		(h)		(i)


2025			3,618,005			8,906,434		1,370,482		2,686,373		148.20		89.50		126,990		581,985


2024			3,820,182			3,072,297		1,437,391		1,195,493		90.9		58.7		131,241		550,455


2023			3,058,576			2,152,769		1,262,912		932,504		101.70		87.10		133,137		481,741


2022			2,057,159			2,830,554		1,134,725		1,453,939		116.05		111.98		77,795		435,463


2021			1,074,687			197,417		563,282		194,105		106.41		208.65		76,077		401,444

Company Selected Measure Name

Adjusted EBITDA

Named Executive Officers, Footnote

(1)

Mr. Doron Blachar has served as our Principal Executive Officer (“PEO”) for each of 2025, 2024, 2023, 2022 and 2021. Our other NEOs for the applicable fiscal years are labeled as “Other NEOs” and are as follows:

• 2025: Assaf Ginzburg, Ofer Ben Yosef, Jessica Woelfel, and Aron Willis.

• 2024: Assaf Ginzburg, Shimon Hatzir, Ofer Ben Yosef and Jessica Woelfel.

• 2023: Assaf Ginzburg, Shimon Hatzir, Ofer Ben Yosef and Jessica Woelfel.

• 2022: Assaf Ginzburg, Shlomi Argas, Shimon Hatzir and Ofer Ben Yosef.

• 2021: Assaf Ginzburg, Shlomi Argas, Shimon Hatzir and Ofer Ben Yosef.

Peer Group Issuers, Footnote

(5)

“Peer Group” represents the PBW - Invesco WilderHill Clean Energy ETF. The Peer Group TSR assumes $100 was invested at the close of market on December 31, 2020 in the stocks of the companies included in the PBW - Invesco WilderHill Clean Energy ETF, and assumes the reinvestment of any dividends.

PEO Total Compensation Amount

$ 3,618,005

$ 3,820,182

$ 3,058,576

$ 2,057,159

$ 1,074,687

PEO Actually Paid Compensation Amount

$ 8,906,434

3,072,297

2,152,769

2,830,554

197,417

Adjustment To PEO Compensation, Footnote

(3)

Amounts reported in these columns represent the amount of “Compensation Actually Paid” (“CAP”) as computed in accordance with Item 402(v) of Regulation S‑K. A reconciliation of the adjustments for PEOs and for the average of the Other NEOs is set forth in the following table. The CAP amounts do not reflect the actual amount of compensation earned by or paid to the PEOs or Other NEOs in the applicable year. In accordance with the requirements of Item 402(v) of Regulation S‑K, the following adjustments were made to each applicable executive officer’s total compensation reported in the SCT for each year to determine the CAP:



		2025				2024				2023				2022				2021


		PEO		Average Other		PEO		Average Other NEOs		PEO		Average Other NEOs		PEO		Average Other NEOs			PEO		Average Other NEOs


Summary Compensation Table Total		$3,618,005		$1,370,482		$3,820,182		$1,437,391		$3,058,576		$1,262,912		$2,057,159		$1,134,725			$1,074,687		$563,282


Less Fair Value of Stock Awards and Option Awards Reported in SCT for the Covered Year		(2,000,000)		(643,750)		(2,500,000)		(706,250)		(1,800,000)		(625,000)		(900,000)		(468,750)			—		—


Plus Year End Fair Value of Equity Awards Granted During the Covered Year that Remain Outstanding and Unvested as of Last Day of the Covered Year		3,447,998		1,064,906		2,134,534		602,991		1,542,619		535,630		1,286,723		661,194			—		—


Plus Year over Year Change in Fair Value as of the Last Day of the Covered Year of Outstanding and Unvested Equity Awards Granted in Prior Years		3,726,141		856,058		(217,300)		(96,001)		(470,447)		(197,457)		319,048		136,611			(658,791)		(310,336)


Plus Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Same Covered Year		—		—		—		—		—		—		—		—			—		—


Plus Year over Year Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Years that Vested During the Covered Year		114,290		38,677		(165,119)		(42,637)		(177,979)		(43,582)		67,624		(9,840)			(218,479)		(58,841)


Less Fair Value at the End of the Prior Year of Equity Awards that Were Forfeited Due to Failure to Meet Vesting Conditions in the Covered Year		—		—		—		—		—		—		—		—			—		—


Plus Value of Dividends or other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation for the Covered Year		—		—		—		—		—		—		—		—			—		—


Compensation Actually Paid		8,906,434		2,686,373		3,072,297		1,195,493		2,152,769		932,504		2,830,554		1,453,939			197,417		194,105

In the table above, the unvested equity values are computed in accordance with the methodology used for financial reporting purposes, and for unvested awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the covered year.

Non-PEO NEO Average Total Compensation Amount

$ 1,370,482

1,437,391

1,262,912

1,134,725

563,282

Non-PEO NEO Average Compensation Actually Paid Amount

$ 2,686,373

1,195,493

932,504

1,453,939

194,105

Adjustment to Non-PEO NEO Compensation Footnote

(3)

Amounts reported in these columns represent the amount of “Compensation Actually Paid” (“CAP”) as computed in accordance with Item 402(v) of Regulation S‑K. A reconciliation of the adjustments for PEOs and for the average of the Other NEOs is set forth in the following table. The CAP amounts do not reflect the actual amount of compensation earned by or paid to the PEOs or Other NEOs in the applicable year. In accordance with the requirements of Item 402(v) of Regulation S‑K, the following adjustments were made to each applicable executive officer’s total compensation reported in the SCT for each year to determine the CAP:



		2025				2024				2023				2022				2021


		PEO		Average Other		PEO		Average Other NEOs		PEO		Average Other NEOs		PEO		Average Other NEOs			PEO		Average Other NEOs


Summary Compensation Table Total		$3,618,005		$1,370,482		$3,820,182		$1,437,391		$3,058,576		$1,262,912		$2,057,159		$1,134,725			$1,074,687		$563,282


Less Fair Value of Stock Awards and Option Awards Reported in SCT for the Covered Year		(2,000,000)		(643,750)		(2,500,000)		(706,250)		(1,800,000)		(625,000)		(900,000)		(468,750)			—		—


Plus Year End Fair Value of Equity Awards Granted During the Covered Year that Remain Outstanding and Unvested as of Last Day of the Covered Year		3,447,998		1,064,906		2,134,534		602,991		1,542,619		535,630		1,286,723		661,194			—		—


Plus Year over Year Change in Fair Value as of the Last Day of the Covered Year of Outstanding and Unvested Equity Awards Granted in Prior Years		3,726,141		856,058		(217,300)		(96,001)		(470,447)		(197,457)		319,048		136,611			(658,791)		(310,336)


Plus Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Same Covered Year		—		—		—		—		—		—		—		—			—		—


Plus Year over Year Change in Fair Value as of the Vesting Date of Equity Awards Granted in Prior Years that Vested During the Covered Year		114,290		38,677		(165,119)		(42,637)		(177,979)		(43,582)		67,624		(9,840)			(218,479)		(58,841)


Less Fair Value at the End of the Prior Year of Equity Awards that Were Forfeited Due to Failure to Meet Vesting Conditions in the Covered Year		—		—		—		—		—		—		—		—			—		—


Plus Value of Dividends or other Earnings Paid on Stock or Option Awards Not Otherwise Reflected in Fair Value or Total Compensation for the Covered Year		—		—		—		—		—		—		—		—			—		—


Compensation Actually Paid		8,906,434		2,686,373		3,072,297		1,195,493		2,152,769		932,504		2,830,554		1,453,939			197,417		194,105

In the table above, the unvested equity values are computed in accordance with the methodology used for financial reporting purposes, and for unvested awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the covered year.

Compensation Actually Paid vs. Total Shareholder Return

Relationship Between CAP and TSR

As required by SEC rules, the graph below reflects the relationship between (i) the CAP of the PEO and average CAP of the other NEOs, (ii) our TSR, and (iii) our Peer Group TSR for each of the fiscal years covered by the Pay Versus Performance Table.

Relationship between CAP and TSR

Compensation Actually Paid vs. Net Income

Relationship between CAP and GAAP Net Income

As required by SEC rules, the graph below reflects the relationship between (i) the CAP of the PEO and average CAP of the Other NEOs and (ii) our GAAP Net Income for each of the fiscal years covered by the Pay Versus Performance Table.

Relationship between CAP and GAAP Net Income

Compensation Actually Paid vs. Company Selected Measure

Relationship Between CAP and Adjusted EBITDA (our Company-Selected Measure)

As required by SEC rules, the graph below reflects the relationship between (i) the CAP of the PEO and average CAP of the Other NEOs and (ii) our Adjusted EBITDA for each of the fiscal years covered by the Pay Versus Performance Table.

Relationship between CAP and Adjusted EBITDA

Total Shareholder Return Vs Peer Group

Relationship Between CAP and TSR

As required by SEC rules, the graph below reflects the relationship between (i) the CAP of the PEO and average CAP of the other NEOs, (ii) our TSR, and (iii) our Peer Group TSR for each of the fiscal years covered by the Pay Versus Performance Table.

Relationship between CAP and TSR

Tabular List, Table

TABULAR LIST OF MOST IMPORTANT FINANCIAL PERFORMANCE MEASURES

The following is a list of performance measures, which in our assessment represent the most important performance measures used by the Company to link NEO compensation to Company performance. Each performance metric below is used for purposes of determining payouts under either our Management Plan or vesting of our PSUs. Please see “Compensation Discussion and Analysis” for a further description of these performance metrics (including, in the case of Adjusted EBITDA, how it is calculated) and how they are used in our executive compensation program. As noted above, we do not in practice use any performance measures to link “compensation actually paid” (as calculated herein) to Company performance. However, we are providing this list in accordance with Item 402(v) of Regulation S-K to provide information on performance measures used by the Compensation Committee to determine NEO compensation, as more fully described in “Compensation Discussion and Analysis.”

        Most Important Financial Performance Measures

       

        Adjusted EBITDA

       

        Revenue

       

        Relative TSR

       

        Megawatt Growth

       

Total Shareholder Return Amount

$ 148.2

90.9

101.7

116.05

106.41

Peer Group Total Shareholder Return Amount

89.5

58.7

87.1

111.98

208.65

Net Income (Loss)

$ 126,990,000

$ 131,241,000

$ 133,137,000

$ 77,795,000

$ 76,077,000

Company Selected Measure Amount

581,985,000

550,455,000

481,741,000

435,463,000

401,444,000

Mr. Doron Blachar

Mr. Doron Blachar

Mr. Doron Blachar

Mr. Doron Blachar

Mr. Doron Blachar

Pay vs Performance Disclosure

Adjusted EBITDA

Non-GAAP Measure Description

(6)

Adjusted EBITDA is defined as net income before interest, taxes, depreciation and amortization and accretion, adjusted for the following: (i) mark-to-market gains or losses from accounting for derivatives; (ii) stock-based compensation; (iii) merger and acquisition transaction costs; (iv) allowance for bad debts; (v) cost related to settlement agreements; (vi) impairment of long-lived assets; and (vii) write-off of unsuccessful exploration activities.

Pay vs Performance Disclosure

Revenue

Pay vs Performance Disclosure

Relative TSR

Pay vs Performance Disclosure

Megawatt Growth

PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (2,000,000)

$ (2,500,000)

$ (1,800,000)

$ (900,000)

$ 0

PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,447,998

2,134,534

1,542,619

1,286,723

0

PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

3,726,141

(217,300)

(470,447)

319,048

(658,791)

PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

114,290

(165,119)

(177,979)

67,624

(218,479)

PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(643,750)

(706,250)

(625,000)

(468,750)

0

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

1,064,906

602,991

535,630

661,194

0

Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

856,058

(96,001)

(197,457)

136,611

(310,336)

Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

38,677

(42,637)

(43,582)

(9,840)

(58,841)

Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

0

0

0

0

0

Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 0

$ 0

$ 0

$ 0

$ 0