Ormat Technologies, Inc.

Good morning, and welcome to the RMOT Technology second quarter 2022 earnings conference call. All participants will be in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. Please note that this event is being recorded. I would now like to turn the conference over to your host, Sam Cohen with Alpha IR. Please go ahead.

Thank you, Operator. Hosting the call today are Duran Blashar, Chief Executive Officer, Ozzie Ginsberg, Chief Financial Officer, and Smadar Levy, Vice President of Investor Relations and ESG Planning and Reporting. Before beginning, we would like to remind you that 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 and are based on management, current estimates, and projections, future results, or trends. Actual 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 ORMET 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 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 ORMAC.com under the presentation link that's found on the investor relations tab. With all that said, I would like to now turn the call over to Duran Bushar. Duran, the call is yours.

Thank you, Sam, and good morning, everyone. Thank you for joining us today. In the second quarter, we continue the positive momentum from the beginning of the year, demonstrated by solid growth and advancement against our strategic initiatives and milestones that we laid out in the recent investor day. We are encouraged by the robust growth captured in both the company's top line and adjusted EBITDA, driven by strong performance from our electricity segment and further supported by our growing energy storage segment. This quarter makes significant milestone achievements that validate our strong operational capabilities, our healthy financial position, and the attractiveness of the markets we are operating in. Since the end of the first quarter, we commenced the commercial operation of five projects and added 73 megawatts to our portfolio, with the addition of the tungsten-2 and CD4 geothermal power plants, the Worcester and Steamboat solar power plants, and the Tierra Bueno storage facilities. With respect to CD4, we are optimizing the interconnection to allow additional megawatts to be sold through the grid. We are extremely pleased to deliver strong operational execution in the face of supply chain-related challenges and labor constraints. We successfully signed two large portfolio PPAs in Nevada and California and another PPA in Nevada for our North Valley plant, totaling up to 285 megawatts. These long-term PPAs reflect the majority of our new U.S.-based geothermal project over the next six years, as well as most of the Nevada project's renewals. This contract, which we signed and renewed at attractive rates, showed a growing demand for geothermal in the U.S. market, consistent with our analyst day forecast. Finally, our healthy and strong financial position enabled us to raise capital at an attractive coupon rate of 2.5% via the issuance of $431 million of convertible green notes. Proceeds will be partially used to refinance higher-cost debt and further enhance our financial flexibility as we look to execute our long-term growth strategy. Now, before I provide further updates on our operation and future plans, I will turn the call over to Asi to review the financial results. Asi?