Ormat Technologies, Inc.

Good morning, and welcome to the ORMOT Technologies second quarter 2021 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your touch-tone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Rob Fink of FNK IR. Please go ahead.

Thank you, Operator. Hosting the call today are Jerome Blachar, Chief Executive Officer, Ossie Ginsberg, Chief Financial Officer, Madar Lavi, Vice President of Corporate Finance and Investor Relations. Before we begin, we would like to remind you that the information provided during this call may contain forward-looking statements relating to current expectations, estimates, forecasts, and projections about future events that are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to the company's plans, objectives, and expectations for future operations, or based on management's current estimates and projections, future results, or trends. Actual future results may differ materially from those projected as a result of certain risks and uncertainties. For discussion of such risks and uncertainties, please see risk factors as described in ORMAT Technologies' annual report on Form 10-K and quarterly reports on Form 10-Q that are filed with the SEC. In addition, during the call, the company will present non-GAAP financial measures such as adjusted EBITDA. Reconciliation is the most directly comparable GAAP measures, and management's reasons for presenting such information is set forth in the press release that was issued last night, as well as in the slides posted on the website. Because these measures are not calculated in accordance with GAAP, they should not be considered in isolation from the financial statements prepared in accordance with GAAP. Before I turn the call over to management, I would like to remind everyone that a slide presentation accompanying this call may be accessed on the company's website at ormont.com under the presentation link that's found on the investor relations tab. With all that said, I'd now like to turn the call over to Jerome Blachar. Jerome, the call is yours.

Thank you, Rob, and good morning, everyone. Thank you for joining us today. This was a productive quarter for OMAP as we are progressing with our plans to grow our electricity and energy storage segments. The quarter was highlighted by execution of our organic and M&A growth strategies. We completed the expansion of the McGinnis Complex in Nevada with higher generating capacity than originally planned. and made significant progress ramping up generation of the Puna plant in Hawaii. Simultaneously, we closed a significant acquisition of two operating power plants and two other assets that should contribute to our future growth. In the energy storage segment, we continue with our BD effort to secure new interconnection and land positions to support our pipeline, and we recently released two storage assets for construction. The progress in our growth reinforces our belief that we can achieve our stated goals of increasing our mass combined geothermal, energy storage, and solar generating portfolio to more than 1.5 gigawatts by 2023. While we continue to view 2021 as a build-up year in which we lay additional groundwork to accelerate our growth, the increased backlog and sales pipeline, along with the regulatory tailwinds and significant portfolio growth, coming from our electricity and energy storage segment, support our target of an annual run rate of more than $500 million in adjusted EBITDA towards the end of 2022. I will turn the call over to Asi to review the financial results before I provide further updates on our operations and future plans. Asi?