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BUSINESS SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment the Company's disaggregated revenues from contracts with customers as required by ASC 606. Total consolidated revenues, gross profit (loss) and operating income (loss) of our business segments exclude intersegment revenues, gross profit (loss) and operating income (loss) as these activities are eliminated in consolidation and are not included in CODM’s evaluation of performance of each segment.
 
ElectricityProductEnergy Storage
Total
(Dollars in thousands)
Year Ended December 31, 2024:
Revenues from external customers:
United States (1)
$510,645 $8,969 $37,729 $557,343 
Foreign (2)
191,619 130,692 — 322,311 
Net revenues from external customers 702,264 139,661 37,729 879,654 
Less:
Depreciation and amortization expenses (3)
218,252 10,363 20,262 248,876 
Other cost of revenues expenses (4)
241,274 103,548 13,336 358,159 
Segment gross profit (loss)
242,738 25,750 4,131 272,619 
Less:
Segment operating expenses (5)
80,832 15,428 3,889 100,149 
Segment operating income (loss) $161,906 $10,322 $242 $172,470 
Total depreciation and amortization expense (6)
230,957 11,693 20,213 262,863 
Segment assets at period end (7) (*)
4,983,069 229,687 453,468 5,666,224 
Expenditures for long-lived assets 375,540 10,005 102,133 487,678 
* Including unconsolidated investments 144,585 — — 144,585 
Year Ended December 31, 2023:
Revenues from external customers:
United States (1)
$473,323 $7,610 $28,894 $509,827 
Foreign (2)
193,444 126,153 — 319,597 
Net revenues from external customers 666,767 133,763 28,894 829,424 
Less:
Depreciation and amortization expenses (3)
189,194 5,358 14,621 209,173 
Other cost of revenues expenses (4)
233,355 110,444 12,434 356,233 
Segment gross profit (loss)244,218 17,961 1,839 264,018 
Less:
Segment operating expenses (5)
75,384 14,425 7,624 97,433 
Segment operating income (loss) $168,834 $3,536 $(5,785)$166,585 
Total depreciation and amortization expense (6)
199,344 10,908 14,545 224,797 
Segment assets at period end (7) (*)
4,652,392 199,897 355,990 5,208,279 
Expenditures for long-lived assets 474,592 20,599 123,192 618,383 
* Including unconsolidated investments 125,439 — — 125,439 
Year Ended December 31, 2022:
Revenues from external customers:
United States (1)
$446,000 $7,037 $31,018 $484,055 
Foreign (2)
185,727 64,377 — 250,104 
Net revenues from external customers631,727 71,414 31,018 734,159 
Less:
Depreciation and amortization expenses (3)
173,954 7,302 11,524 192,780 
Other cost of revenues expenses (4)
206,407 53,177 12,971 272,555 
Segment gross profit (loss)251,366 10,935 6,523 268,824 
Less:
Segment operating expenses (5)
95,188 12,019 8,814 116,021 
Segment operating income (loss) $156,178 $(1,084)$(2,291)$152,803 
Total depreciation and amortization expense (6)
179,966 7,302 11,524 198,792 
Segment assets at period end (7) (*)
4,253,910 118,018 239,651 4,611,579 
Expenditures for long-lived assets 462,269 16,352 84,855 563,476 
* Including unconsolidated investments115,693 — — 115,693 
(1)Electricity segment revenues in the United States are all accounted under lease accounting, except for $153.2 million, $124.7 million, and $102.5 million for the years 2024, 2023 and 2022, which are accounted under ASC 606. Product and Energy Storage segment revenues in the United States are accounted under ASC 606, as further described under Note 1 to the consolidated financial statements, except for Energy Storage revenues of $4.2 million, for the year ended December 31, 2024, and none for years ended 2023 and 2022, that are accounted under lease accounting.
(2)Electricity segment revenues in foreign countries are all accounted under lease accounting. Product and Energy Storage segment revenues in foreign countries are accounted under ASC 606 as further described under Note 1 to the consolidated financial statements.
(3)Depreciation and amortization expense amounts align with the segment-level information that is regularly provided to the CODM, and do not include intersegment transactions. Depreciation and amortization expenses included in the segment measure of gross profit are related to the specific tangible and intangible assets associated with each of the reportable segment.
(4)Other cost of revenues expenses for each reportable segment include:
Electricity: primarily cost of manpower, utilities, repair and maintenance, royalties, and property taxes.
Products: primarily cost of raw materials and finished goods used in manufacturing, manpower, transportation, and third-party subcontractors.
Energy Storage: primarily cost of manpower, utilities, and insurance.
(5)Segment operating expenses include research and development expenses, selling and marketing expenses, and general and administrative expenses such as manpower, depreciation and amortization, legal and professional services. Such expenses do not include intersegment transactions. Segment operating expenses related to the Energy Storage segment are directly related to this segment. Segment operating expenses related to the Electricity and Product segments are allocated between these two segments based on their weighted contribution to revenues, except for certain specific expenses or gains that are specifically allocated to one of these segments, as applicable, such as impairment of long-lived assets, write-off of unsuccessful exploration activities, and other operating income.
(6)Total depreciation and amortization expenses for each segment are related to the specific tangible and intangible assets associated with the respective reportable segment.
(7)Electricity segment assets include goodwill in the amount of $146.4 million , $85.9 million and $85.7 million as of December 31, 2024, 2023 and 2022, respectively, $60.9 million of which was added in the first quarter of 2024 as a result of the Enel purchase Transaction as further described under Note 2 to the consolidated financial statements. Energy Storage segment assets include goodwill in the amount of $4.6 million , $4.6 million and $4.6 million as of December 31, 2024, 2023 and 2022, respectively. No goodwill is included in the Product segment assets as of December 31, 2024, 2023 and 2022.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Reconciling information between reportable segments and the Company’s consolidated totals is shown in the following table: 
Year Ended December 31,
202420232022
(Dollars in thousands)
Reconciliation of profit or loss (segment gross profit):
Total segment gross profit (loss)
$272,619 $264,018 $268,824 
Less operating expenses:
Research and development expenses
6,501 7,215 5,078 
Selling and marketing expenses
17,694 18,306 16,193 
General and administrative expenses
80,119 68,179 61,274 
Other operating income(9,375)——
Write-off of long-lived assets
1,280 0 32,648 
Write-off of unsuccessful exploration activities
3,930 3,733 828 
Operating income $172,470 $166,585 $152,803 
Interest income 7,883 11,983 3,417 
Interest expense, net (134,031)(98,881)(87,743)
Derivatives and foreign currency transaction gains (losses)(4,187)(3,278)(6,044)
Income attributable to sale of tax benefits 73,054 61,157 33,885 
Other non-operating income (expense), net 188 1,519 (709)
Total consolidated income before income taxes and equity in earnings (losses) of investees $115,377 $139,085 $95,609 
Reconciliation of profit or loss (segment operating income):
Total segment operating income
$172,470 $166,585 $152,803 
Interest income7,883 11,983 3,417 
Interest expense, net(134,031)(98,881)(87,743)
Derivatives and foreign currency transaction gains (losses)(4,187)(3,278)(6,044)
Income attributable to sale of tax benefits73,054 61,157 33,885 
Other non-operating income (expense), net188 1,519 (709)
Total consolidated income before income taxes and equity in earnings (losses) of investees$115,377 $139,085 $95,609 
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area The following tables present certain data by geographic area: 
Year Ended December 31,
202420232022
(Dollars in thousands)
Revenues from external customers attributable to:
United States $557,343 $509,827 $484,055 
Indonesia 7,616 26,732 15,631 
Kenya 114,066 109,217 105,837 
Turkey 3,013 2,469 1,961 
Chile — — 579 
Guatemala 28,955 30,174 28,831 
New Zealand 78,665 66,526 17,130 
Honduras30,304 31,589 33,837 
Other foreign countries 59,692 52,889 46,298 
Consolidated total $879,654 $829,424 $734,159 
Long-Lived Assets by Geographic Areas
The following table presents information on geographic area of long-lived assets:
Year Ended December 31,
202420232022
(Dollars in thousands)
Long-lived assets (primarily power plants and related assets) located in:
United States $3,464,011 $3,085,892 $2,857,503 
Kenya 382,738 377,563 301,491 
Guadeloupe
112,375 101,728 80,988 
Other foreign countries 333,306 276,300 173,890 
Consolidated total $4,292,430 $3,841,483 $3,413,872 
Schedule of Revenue by Major Customers by Reporting Segments The following table presents revenues from major customers:
 
Year Ended December 31,
202420232022
Revenues%Revenues%Revenues%
(Dollars in
thousands)		(Dollars in
thousands)		(Dollars in
thousands)
Southern California Public Power (1)
$181,120 20.6 %$181,656 21.2 %$157,663 21.5 %
Sierra Pacific Power Company and Nevada Power Company (1)(2)
133,108 15.1 116,797 14.1 124,116 16.9 %
KPLC (1)
114,066 13.0 109,217 13.2 105,837 14.4 %
(1 )Revenues reported in Electricity segment.
(2) Subsidiaries of NV Energy, Inc.