2021 Q4 Form 10-K Financial Statement

#000143774922004440 Filed on February 25, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $191.0M $663.1M $179.4M
YoY Change 6.47% -5.99% -6.79%
Cost Of Revenue $115.4M $398.7M $104.3M
YoY Change 10.61% -7.07% -11.53%
Gross Profit $75.58M $264.3M $75.04M
YoY Change 0.71% -4.32% 0.72%
Gross Profit Margin 39.57% 39.86% 41.83%
Selling, General & Admin $19.77M $91.10M $20.73M
YoY Change -4.66% 17.38% 14.19%
% of Gross Profit 26.15% 34.46% 27.63%
Research & Development $950.0K $4.129M $1.114M
YoY Change -14.72% -23.47% -40.59%
% of Gross Profit 1.26% 1.56% 1.48%
Depreciation & Amortization $48.61M $183.0M $40.90M
YoY Change 18.84% 16.83% 9.07%
% of Gross Profit 64.31% 69.22% 54.5%
Operating Expenses $20.71M $95.23M $21.85M
YoY Change -5.18% 14.73% 9.07%
Operating Profit $54.86M $169.4M $53.20M
YoY Change 3.13% -20.87% -2.34%
Interest Expense -$20.74M $82.66M $19.14M
YoY Change -208.38% 6.04% 8.94%
% of Operating Profit -37.81% 48.81% 35.98%
Other Income/Expense, Net $8.102M -$134.0K $75.00K
YoY Change 10702.67% -109.45% -115.56%
Pretax Income $42.22M $37.03M $44.97M
YoY Change -6.12% -14.42% 9.46%
Income Tax $15.53M $24.85M $21.73M
% Of Pretax Income 36.78% 67.1% 48.31%
Net Earnings $18.91M $62.09M $20.70M
YoY Change -8.66% -27.34% 64.19%
Net Earnings / Revenue 9.9% 9.36% 11.54%
Basic Earnings Per Share $1.11 $0.39
Diluted Earnings Per Share $335.4K $1.10 $0.39
COMMON SHARES
Basic Shares Outstanding 56.00M 53.11M
Diluted Shares Outstanding 56.40M 53.55M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $282.6M $282.6M $448.3M
YoY Change -36.96% -36.96% 529.63%
Cash & Equivalents $239.3M $239.3M $448.3M
Short-Term Investments $43.34M $43.34M
Other Short-Term Assets $140.1M $140.1M $103.9M
YoY Change 34.83% 34.83% 9.83%
Inventory $28.45M $38.14M $35.32M
Prepaid Expenses
Receivables $122.9M $122.9M $149.2M
Other Receivables $18.14M $18.14M $17.99M
Total Short-Term Assets $601.9M $601.9M $779.2M
YoY Change -22.75% -22.75% 87.45%
LONG-TERM ASSETS
Property, Plant & Equipment $2.295B $3.042B $2.099B
YoY Change 9.33% 16.73% 6.47%
Goodwill $89.95M $24.57M
YoY Change 266.17% 21.98%
Intangibles $363.3M $194.4M
YoY Change 86.87% 4.4%
Long-Term Investments $105.9M $105.9M $98.20M
YoY Change 7.83% 7.83% 21.09%
Other Assets $222.4M $222.4M $186.3M
YoY Change 19.36% 19.36% 11.03%
Total Long-Term Assets $3.824B $3.824B $3.110B
YoY Change 22.96% 22.96% 9.7%
TOTAL ASSETS
Total Short-Term Assets $601.9M $601.9M $779.2M
Total Long-Term Assets $3.824B $3.824B $3.110B
Total Assets $4.426B $4.426B $3.889B
YoY Change 13.8% 13.8% 19.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $143.2M $75.16M $152.8M
YoY Change -6.29% -0.84% 7.68%
Accrued Expenses $2.564M $53.50M $2.900M
YoY Change -11.59% -9.01% 7.41%
Deferred Revenue $9.248M $11.18M
YoY Change -17.27% 305.77%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $378.3M $378.3M $81.80M
YoY Change 362.5% 362.5% -40.98%
Total Short-Term Liabilities $544.2M $544.2M $248.6M
YoY Change 118.85% 118.89% -33.95%
LONG-TERM LIABILITIES
Long-Term Debt $1.284B $1.284B $1.386B
YoY Change -7.35% -7.35% 35.5%
Other Long-Term Liabilities $4.951M $504.7M $6.235M
YoY Change -20.59% 134.97% -22.44%
Total Long-Term Liabilities $4.951M $1.789B $6.235M
YoY Change -20.59% 11.74% -22.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $544.2M $544.2M $248.6M
Total Long-Term Liabilities $4.951M $1.789B $6.235M
Total Liabilities $2.418B $2.571B $1.938B
YoY Change 24.78% 23.41% 12.28%
SHAREHOLDERS EQUITY
Retained Earnings $585.2M $550.1M
YoY Change 6.38% 12.76%
Common Stock $1.272B $1.263B
YoY Change 0.75% 38.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares $0.00
Shareholders Equity $1.855B $1.855B $1.806B
YoY Change
Total Liabilities & Shareholders Equity $4.426B $4.426B $3.889B
YoY Change 13.8% 13.8% 19.64%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $18.91M $62.09M $20.70M
YoY Change -8.66% -27.34% 64.19%
Depreciation, Depletion And Amortization $48.61M $183.0M $40.90M
YoY Change 18.84% 16.83% 9.07%
Cash From Operating Activities $114.0M $258.8M $26.10M
YoY Change 336.9% -2.33% -25.43%
INVESTING ACTIVITIES
Capital Expenditures -$130.8M $419.3M -$88.90M
YoY Change 47.19% 30.72% -0.67%
Acquisitions $171.0M
YoY Change 294.04%
Other Investing Activities $2.601M $911.0K -$4.000M
YoY Change -165.02% -85.81% -114.34%
Cash From Investing Activities -$128.2M -$638.2M -$93.00M
YoY Change 37.9% 65.35% 51.22%
FINANCING ACTIVITIES
Cash Dividend Paid $27.00M
YoY Change 20.0%
Common Stock Issuance & Retirement, Net $311.0K
YoY Change -99.91%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.373M $186.4M 313.5M
YoY Change -99.56% -62.98% -26225.0%
NET CHANGE
Cash From Operating Activities 114.0M $258.8M 26.10M
Cash From Investing Activities -128.2M -$638.2M -93.00M
Cash From Financing Activities 1.373M $186.4M 313.5M
Net Change In Cash -12.84M -$193.3M 246.6M
YoY Change -105.21% -150.39% -990.25%
FREE CASH FLOW
Cash From Operating Activities $114.0M $258.8M $26.10M
Capital Expenditures -$130.8M $419.3M -$88.90M
Free Cash Flow $244.9M -$160.5M $115.0M
YoY Change 112.94% 187.89% -7.63%

Facts In Submission

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1249400000 USD
CY2019 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
1450850000 USD
CY2021 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
-0 USD
CY2020 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
1289950000 USD
CY2019 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
1569300000 USD
CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
5390000 USD
CY2020 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
7577000 USD
CY2019 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
3346000 USD
CY2021 ora Repayments Of Longterm Loans
RepaymentsOfLongtermLoans
93046000 USD
CY2020 ora Repayments Of Longterm Loans
RepaymentsOfLongtermLoans
135384000 USD
CY2019 ora Repayments Of Longterm Loans
RepaymentsOfLongtermLoans
72708000 USD
CY2021 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
6903000 USD
CY2020 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
9739000 USD
CY2019 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
9730000 USD
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3181000 USD
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2890000 USD
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3164000 USD
CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1341000 USD
CY2020 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1798000 USD
CY2019 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5165000 USD
CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
26986000 USD
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22471000 USD
CY2019 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
22386000 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
186385000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
503478000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5765000 USD
CY2021 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-348000 USD
CY2020 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
1154000 USD
CY2019 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-575000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-193334000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
383668000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-24385000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
536778000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
153110000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
177495000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
343444000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
536778000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
153110000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
66627000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
60830000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
61628000 USD
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
34357000 USD
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
64795000 USD
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1649000 USD
CY2021 ora Increase Decrease In Accounts Payable Related To Purchases Of Property Plant And Equipment
IncreaseDecreaseInAccountsPayableRelatedToPurchasesOfPropertyPlantAndEquipment
7976000 USD
CY2020 ora Increase Decrease In Accounts Payable Related To Purchases Of Property Plant And Equipment
IncreaseDecreaseInAccountsPayableRelatedToPurchasesOfPropertyPlantAndEquipment
3148000 USD
CY2019 ora Increase Decrease In Accounts Payable Related To Purchases Of Property Plant And Equipment
IncreaseDecreaseInAccountsPayableRelatedToPurchasesOfPropertyPlantAndEquipment
9423000 USD
CY2021 ora Rightofuse Asset Obtained In Exchange For Lease Liability
RightofuseAssetObtainedInExchangeForLeaseLiability
6175000 USD
CY2020 ora Rightofuse Asset Obtained In Exchange For Lease Liability
RightofuseAssetObtainedInExchangeForLeaseLiability
3642000 USD
CY2019 ora Rightofuse Asset Obtained In Exchange For Lease Liability
RightofuseAssetObtainedInExchangeForLeaseLiability
11626000 USD
CY2021 ora Noncash Transfer Of Asset Retirement Obligations
NoncashTransferOfAssetRetirementObligations
12153000 USD
CY2020 ora Noncash Transfer Of Asset Retirement Obligations
NoncashTransferOfAssetRetirementObligations
8963000 USD
CY2019 ora Noncash Transfer Of Asset Retirement Obligations
NoncashTransferOfAssetRetirementObligations
8334000 USD
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:14pt;"><b><i>Use of estimates in preparation of financial statements</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of such financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The most significant estimates with regard to the Company’s consolidated financial statements relate to the useful lives of property, plant and equipment, impairment of goodwill and long-lived assets, including intangible assets, revenue recognition of product sales using the percentage of completion method, asset retirement obligations, and the provision for income taxes.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
239278000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
448252000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
71173000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
104166000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
88526000 USD
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:14pt;"><b><i>Concentration of credit risk </i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 25pt;">Financial instruments which potentially subject the Company to concentration of credit risk consist principally of temporary cash investments, marketable securities<span style="text-decoration: underline; ">,</span> accounts receivable and the cross-currency swap transaction.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">The Company places its temporary cash investments with high credit quality financial institutions located in the U.S. and in foreign countries. At <em style="font: inherit;"> December 31, 2021 </em>and <em style="font: inherit;">2020,</em> the Company had deposits totaling $31.0 million and $18.9 million, respectively, in <em style="font: inherit;">ten</em> United States financial institutions that were federally insured up to <em style="font: inherit;">$250,000</em> per account. At <em style="font: inherit;"> December 31, 2021 </em>and <em style="font: inherit;">2020,</em> the Company’s deposits in foreign countries of approximately $64.3 million and $72.4 million, respectively, were <em style="font: inherit;">not</em> insured.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">At <em style="font: inherit;"> December 31, 2021 </em>and <em style="font: inherit;">2020,</em> accounts receivable related to operations in foreign countries amounted to approximately $77.5 million and $111.3 million, respectively. At <em style="font: inherit;"> December 31, 2021 </em>and <em style="font: inherit;">2020,</em> accounts receivable from the Company’s major customers (see Note <em style="font: inherit;">18</em>) amounted to approximately 58% and 65%, respectively, of the Company’s accounts receivable.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 25pt;">The Company has historically been able to collect substantially all of its receivable balances. As of <em style="font: inherit;"> December 31, 2021, </em>the amount overdue from KPLC in Kenya was $25.5 million of which $22.9 million was paid in <em style="font: inherit;"> January </em>and <em style="font: inherit;"> February </em>of <em style="font: inherit;">2022.</em> These amounts represent an average of 63 days overdue. The Company believes it will be able to collect all past due amounts in Kenya. This belief is supported by the fact that in addition to KPLC's obligations under its power purchase agreement, the Company holds a support letter from the Government of Kenya that covers certain cases of KPLC non-payment (such as where caused by government actions/political events).</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 25pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 25pt;">In Honduras, as of <em style="font: inherit;"> December 31, 2021, </em>the total amount overdue from ENEE was $20.7 million of which $2.9 million was collected in <em style="font: inherit;"> February 2022.  </em>In addition, due to continuing restrictive measures related to the COVID-<em style="font: inherit;">19</em> pandemic in Honduras, the Company <em style="font: inherit;"> may </em>experience additional delays in collection. The Company believes it will be able to collect all past due amounts in Honduras.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 25pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">The Company <em style="font: inherit;"> may </em>experience delays in collection in other locations due to the restrictive measures related to the COVID-<em style="font: inherit;">19</em> pandemic which were imposed globally to different extents.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">See Note <em style="font: inherit;">3</em> - Marketable Securities and under the caption "Marketable Securities" above for additional information regarding investment in marketable securities. The Company considers the counterparty credit risk related to the cross-currency swap, as further described in note <em style="font: inherit;">12</em> to the consolidated financial statements, when assessing the hedge effectiveness, noting such risk to be low as of <em style="font: inherit;"> December 31, 2021.</em></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2021Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
31000000.0 USD
CY2020Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
18900000 USD
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
64300000 USD
CY2020Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
72400000 USD
CY2021 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:14pt;"><b><i>Property, plant and equipment, net</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">Property, plant and equipment are stated at cost. All costs associated with the acquisition, development and construction of power plants operated by the Company are capitalized. Major improvements are capitalized and repairs and maintenance (including major maintenance) costs are expensed. Power plants operated by the Company, which include geothermal wells and exploration and resource development costs, are depreciated using the straight-line method over their estimated useful lives, which range from 15 to 30 years. The other assets are depreciated using the straight-line method over the following estimated useful lives of the assets:</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 5%; width: 95%; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 82%;"> </td><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 1%;"> </td><td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; width: 1%;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"> </p> </td><td style="text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; width: 5%;"><b><b>Years</b></b></td><td style="text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; width: 5%;"> </td><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 1%;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 82%;"> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Buildings</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;"> </em></td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: center;">25</td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;"> </em></td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 82%;"> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Leasehold improvements</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">15</td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: center;"><em style="font: inherit;">-</em></td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">30</td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 82%;"> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Machinery and equipment — manufacturing and drilling</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;"> </em></td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: center;">10</td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;"> </em></td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 82%;"> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Machinery and equipment — computers</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">3</td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: center;"><em style="font: inherit;">-</em></td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">5</td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 82%;"> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Energy storage equipment</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;"> </em></td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: center;">15</td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"><em style="font: inherit;"> </em></td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 82%;"> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Office equipment — furniture and fixtures</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">5</td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: center;"><em style="font: inherit;">-</em></td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">15</td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 82%;"> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Office equipment — other</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">5</td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: center;"><em style="font: inherit;">-</em></td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">10</td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; width: 82%;"> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Vehicles</p> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> </td><td style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">5</td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt; text-align: center;"><em style="font: inherit;">-</em></td><td style="width: 5%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;">7</td><td style="width: 1%; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-left: 0pt;"> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">The cost and accumulated depreciation of items sold or retired are removed from the accounts. Any resulting gain or loss is recognized currently and recorded in the accompanying statements of operations.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">The Company capitalizes interest costs as part of constructing power plant facilities. Such capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset’s estimated useful life. Capitalized interest costs amounted to $14.6 million, $10.4 million, and $3.3 million for the years ended <em style="font: inherit;"> December 31, 2021, </em><em style="font: inherit;">2020</em> and <em style="font: inherit;">2019,</em> respectively.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
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0.111 pure
CY2020 ora Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Annual Forfeiture Rate
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CY2019 ora Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Annual Forfeiture Rate
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0.028 pure
CY2020 ora Increase Decrease In Stock Based Compensation Expense Due To Forfeitures
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CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y9M18D
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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P3Y
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882000
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2240000
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P3Y10M24D
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73039000 USD
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704000
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InterestExpense
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CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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66452000 USD
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45683000 USD
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CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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22193000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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22193000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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22200000 USD
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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119299000 USD
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