Ormat Technologies, Inc. (ORA) - Not Halal (Non-Compliant)
Ormat Technologies, Inc. (ORA) is classified as Not Halal (Non-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- Utilities
- Industry
- Utilities - Renewable
- Result
- Pass
- Reason
- The sector "Utilities" and industry "Utilities - Renewable" are not in the excluded categories.
Financial Ratios
- Debt Ratio
- Value: 50.2% | Threshold: 30% | Result: Fail
- Cash & Interest-bearing Securities Ratio
- Value: 7.6% | Threshold: 30% | Result: Pass
- Non-Permissible Income Ratio
- Value: 0.6% | Threshold: 5% | Result: Pass
Dividend Purification
Purification percentage: 0.57%.Based on the company's financial statements, approximately 0.57% of dividend income comes from non-permissible sources; this is the share many investors donate to purify it. This is derived from identified interest income (0.57% of total income). Some scholars may differ on the exact calculation method.
About Ormat Technologies, Inc.
Ormat Technologies, Inc. engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, France, Indonesia, the Philippines, and internationally. It operates through three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity. The Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation; and provides services relating to the engineering, procurement, and construction of geothermal and recovered energy-based power plants. The Energy Storage segment owns and operates grid-connected, stand alone In Front of the Meter (IFM) battery energy storage BESS facilities, which provide capacity, energy, and ancillary services directly to the electric grid. The company serves contractors, geothermal plant owners and operators, interstate natural gas pipeline owners and operators, gas processing plant owners and operators, cement plant owners and operators, and biomass facilities owners and operators, as well as other companies engaged in energy-intensive industrial processes. Ormat Technologies, Inc. was founded in 1965 and is headquartered in Reno, Nevada.
