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LEASES
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASES LEASES
 The Company is a lessee in operating transactions primarily consisting of land leases for its exploration and development activities and storage activities. Additionally, the Company is a lessee in finance lease transactions for its fleet vehicles. The Company is a lessor in PPAs that are accounted under lease accounting, as further described under Note 1 to the consolidated financial statements under “Revenues and cost of revenues”, and “Leases”.
Leases in Which the Company is a Lessee
The table below presents the effects on the amounts relating to total lease cost:
Year Ended December 31,
202420232022
(Dollars in thousands)
Lease cost
Finance lease cost:
Amortization of right-of-use assets $1,388 $1,922 $2,861 
Interest on lease liabilities 143 168 441 
Operating lease cost 5,657 4,771 3,695 
Short-term and variable lease cost 6,738 6,741 7,436 
Total lease cost
$13,926 $13,602 $14,433 
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases $143 $168 $441 
Operating cash flows for operating leases 10,526 4,448 4,507 
Financing cash flows for finance leases 1,383 1,963 2,983 
Right-of-use assets obtained in exchange for new finance lease liabilities 761 1,671 2,473 
Right-of-use assets obtained in exchange for new operating lease liabilities 12,599 4,731 6,286 
December 31,
Additional information as of the end of the year:20242023
Weighted-average remaining lease term — finance leases (in years)
13.414.3
Weighted-average remaining lease term — operating leases (in years)16.316.2
Weighted-average discount rate — finance leases (in percentage)
6 %6 %
Weighted-average discount rate — operating leases (in percentage)5 %5 %

Future minimum lease payments under non-cancellable leases as of December 31, 2024 were as follows:
Operating LeasesFinance Leases
Financing Liability (1)
(Dollars in thousands)
Year ending December 31,
2025$4,460 $1,475 $17,535 
20263,101 1,098 22,675 
20272,600 340 20,815 
20282,531 152 20,578 
20292,399 10 23,165 
Thereafter24,252 0 254,046 
Total future minimum lease payments39,343 3,075 358,814 
Less imputed interest13,187 171 138,245 
Total$26,156 $2,904 $220,569 
(1) Financing liability was assumed as part of the Terra-Gen business combination transaction in 2021 as further described under Note 11 to the consolidated financial statements, and is related to the sale and lease-back transaction of the Dixie Valley geothermal assets.  
Leases in Which the Company is a Lessor
The table below presents lease income recognized as a lessor:
Year Ended December 31,
202420232022
(Dollars in thousands)
Lease income relating to lease payments of operating leases $553,348 $542,065 $529,264 
LEASES LEASES
 The Company is a lessee in operating transactions primarily consisting of land leases for its exploration and development activities and storage activities. Additionally, the Company is a lessee in finance lease transactions for its fleet vehicles. The Company is a lessor in PPAs that are accounted under lease accounting, as further described under Note 1 to the consolidated financial statements under “Revenues and cost of revenues”, and “Leases”.
Leases in Which the Company is a Lessee
The table below presents the effects on the amounts relating to total lease cost:
Year Ended December 31,
202420232022
(Dollars in thousands)
Lease cost
Finance lease cost:
Amortization of right-of-use assets $1,388 $1,922 $2,861 
Interest on lease liabilities 143 168 441 
Operating lease cost 5,657 4,771 3,695 
Short-term and variable lease cost 6,738 6,741 7,436 
Total lease cost
$13,926 $13,602 $14,433 
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases $143 $168 $441 
Operating cash flows for operating leases 10,526 4,448 4,507 
Financing cash flows for finance leases 1,383 1,963 2,983 
Right-of-use assets obtained in exchange for new finance lease liabilities 761 1,671 2,473 
Right-of-use assets obtained in exchange for new operating lease liabilities 12,599 4,731 6,286 
December 31,
Additional information as of the end of the year:20242023
Weighted-average remaining lease term — finance leases (in years)
13.414.3
Weighted-average remaining lease term — operating leases (in years)16.316.2
Weighted-average discount rate — finance leases (in percentage)
6 %6 %
Weighted-average discount rate — operating leases (in percentage)5 %5 %

Future minimum lease payments under non-cancellable leases as of December 31, 2024 were as follows:
Operating LeasesFinance Leases
Financing Liability (1)
(Dollars in thousands)
Year ending December 31,
2025$4,460 $1,475 $17,535 
20263,101 1,098 22,675 
20272,600 340 20,815 
20282,531 152 20,578 
20292,399 10 23,165 
Thereafter24,252 0 254,046 
Total future minimum lease payments39,343 3,075 358,814 
Less imputed interest13,187 171 138,245 
Total$26,156 $2,904 $220,569 
(1) Financing liability was assumed as part of the Terra-Gen business combination transaction in 2021 as further described under Note 11 to the consolidated financial statements, and is related to the sale and lease-back transaction of the Dixie Valley geothermal assets.  
Leases in Which the Company is a Lessor
The table below presents lease income recognized as a lessor:
Year Ended December 31,
202420232022
(Dollars in thousands)
Lease income relating to lease payments of operating leases $553,348 $542,065 $529,264