XML 93 R47.htm IDEA: XBRL DOCUMENT v3.25.0.1
LONG-TERM DEBT, CREDIT AGREEMENTS AND FINANCE LIABILITY (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments Long-term debt consists of the following loan agreements:
December 31,
20242023
(Dollars in thousands)

Limited and non-recourse agreements (*):
Limited recourse:
Loan agreement with DFC (the Olkaria III power plant) $102,520 $120,668 
Loan agreement with DFC (the Platanares power plant) 63,495 71,687 
Idaho Refinancing, U.S. Department of Energy and Prudential Capital Group Nevada 106,420 112,959 
OFC 2 Senior Secured Notes 126,859 142,464 
Mammoth Senior Secured Notes
129,245 — 
Bottleneck Loan
72,600 — 
Other loans1,867 3,460 
Non-recourse:
DAC 1 Senior Secured Notes 52,219 57,397 
Other loans 2,090 4,216 
Total limited and non-recourse agreements$657,315 $512,852 
Less current portion (70,262)(57,207)
Noncurrent portion $587,053 $455,645 
Full recourse agreements (*):
Senior Unsecured Bonds - Series 4
$192,218 $220,568 
Senior Unsecured Loan (“Migdal”)
141,200 158,000 
Other full recourse loans (1)
592,603 397,009 
Loan agreements with DEG
62,792 42,160 
Total full recourse agreements$988,812 $817,737 
Less current portion (161,313)(116,864)
Noncurrent portion $827,499 $700,873 
Convertible senior notes (all noncurrent) (*)
$476,437 $431,250 
Financing liability$220,569 $225,760 
Less current portion(4,093)(5,141)
Noncurrent portion$216,476 $220,619 
(*) The amounts presented exclude the related deferred financing costs, if any.
(1) Includes the following loans: Hapoalim, Hapoalim 2023, Hapoalim 2024, Mizrahi, Mizrahi 2023, HSBC, Discount, Discount 2024 and Discount 2024 II loans.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Hapoalim 2024 Loan
$75.0$68.06.6%January 2032
(1) payable quarterly.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Discount 2024 Loan
$31.8$29.86.75%May 2032
(1) payable quarterly.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Mizrahi Loan 2023
$50.0$43.87.15%October 2031
(1) payable semi-annually.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Hapoalim 2023 Loan
$100.0$85.06.45%February 2033
(1) payable semi-annually.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Mizrahi Bank Loan
$75.0$51.64.10%April 2030
(1) payable semi-annually.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Hapoalim Loan
$125.0$62.53.45%June 2028
(1) payable semi-annually.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
HSBC Loan
$50.0$28.63.45%July 2028
(1) payable semi-annually.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Discount Loan
$100.0$62.52.9%September 2029
(1) payable semi-annually.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Senior Unsecured Bonds - Series 4
$289.8 $192.2 3.35 %June 2031
(1) payable semi-annually.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Migdal Loan
$100.0 $70.6 4.80%March 2029
Additional Migdal Loan50.035.34.60%March 2029
Second Addendum Migdal Loan
50.035.35.44%March 2029
Total Senior Unsecured Loan$200.0 $141.2 
(1) payable semi-annually in arrears.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
DEG 2 Loan
$50.0 $17.5 6.28%June 2028
DEG 3 Loan41.515.36.04%June 2028
DEG 4 Loan
30.0 30.0 7.90%June 2031
$121.5 $62.8 
(1) payable semi-annually.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Bottleneck Loan
$72.6$72.66.31 %November 2039
(1) payable semi-annually.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Mammoth Senior Secured Notes
$135.1$129.26.73%July 2047
(1) payable quarterly
 The OPIC Loan is comprised of up to three tranches:
AmountBalance as ofAnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
OPIC Loan - Tranche I$85.0 $28.3 6.34 %December 2030
OPIC Loan - Tranche II180.058.26.29 %June 2030
OPIC Loan - Tranche III45.016.16.12 %December 2030
Total OPIC Loan$310.0 $102.6 
(1) payable quarterly.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
DFC - Platanares Loan
$114.7$63.57.02%September 2032
(1) payable quarterly.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
DAC 1 Senior Secured Notes$92.5$52.24.03%September 2033
(1) payable quarterly.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
OFC 2 Senior Secured Notes - Series A$151.7 $56.2 4.69 %December 2032
OFC 2 Senior Secured Notes - Series C140.070.74.61 %December 2032
Total OFC 2 Senior Secured Notes$291.7 $126.9 
(1) payable quarterly in arrears.
Amount
Balance as of
AnnualMaturity
LoanIssued
December 31, 2024
Interest Rate (1)
Date
(Dollars in millions)
Idaho Refinancing Note$61.6 $55.9 6.26%March 2038
U.S. Department of Energy 96.827.52.60%February 2035
Prudential Capital Group – Nevada30.723.06.75%December 2037
Total$189.1 $106.4 
(1) payable semi-annually, except for Prudential Capital Group - Nevada which is payable quarterly.
Balance as of
AnnualMaturity
Loan
December 31, 2024
Interest Rate (1)
Date (2)
(Dollars in millions)
Financing Liability - Dixie Valley$220.66.11%June 2038
(1) payable semi-annually
(2) final maturity date of the financing liability is assuming execution of the buy-out option in June 2038.
Schedule of Maturities of Long-Term Debt
Future minimum payments under long-term obligations, including long-term debt and financing liability, as of December 31, 2024 are as follows:
 
(Dollars in
thousands)
Year ending December 31:
2025$235,665 
2026240,258 
2027712,402 
2028263,123 
2029241,419 
Thereafter 651,878 
Total $2,344,746