ORMAT TECHNOLOGIES, INC., 10-K filed on 3/1/2017
Annual Report
v3.6.0.2
Document And Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2016
Feb. 27, 2017
Jun. 30, 2016
Document Information [Line Items]      
Entity Registrant Name ORMAT TECHNOLOGIES, INC.    
Entity Central Index Key 0001296445    
Trading Symbol ora    
Current Fiscal Year End Date --12-31    
Entity Filer Category Large Accelerated Filer    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Well-known Seasoned Issuer No    
Entity Common Stock, Shares Outstanding (in shares)   49,667,340  
Entity Public Float     $ 1,418,095,165
Document Type 10-K    
Document Period End Date Dec. 31, 2016    
Document Fiscal Year Focus 2016    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.6.0.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 230,214 $ 185,919
Restricted cash and cash equivalents 34,262 49,503
Receivables:    
Trade 80,807 55,301
Other 17,482 7,885
Inventories 12,000 18,074
Costs and estimated earnings in excess of billings on uncompleted contracts 52,198 25,120
Prepaid expenses and other 45,867 33,334
Total current assets 472,830 375,136
Deposits and other 18,553 17,968
Deferred charges 43,773 42,811
Property, plant and equipment, net 1,556,378 1,559,335
Construction-in-process 306,709 248,835
Deferred financing and lease costs, net 3,923 4,022
Intangible assets, net 52,753 25,875
Goodwill 6,650
Total assets [1] 2,461,569 2,273,982
Current liabilities:    
Accounts payable and accrued expenses 91,650 91,955
Billings in excess of costs and estimated earnings on uncompleted contracts 31,630 33,892
Current portion of long-term debt:    
Senior secured notes 32,234 29,930
Other loans 21,495 21,495
Full recourse 12,242 11,229
Total current liabilities 189,251 188,501
Long-term debt, net of current portion:    
Senior secured notes (less deferred financing costs of $9,177 and $10,852, respectively) 350,388 294,476
Other loans (less deferred financing costs of $6,409 and $7,492, respectively) 261,845 275,888
Senior unsecured bonds (plus unamortized premium based upon 7% of $0 and $513, respectively and less deferred financing costs of $755 and $283, respectively) 203,577 249,698
Other loans (less deferred financing costs of $1,346 and $435, respectively) 57,063 18,687
Accumulated losses of unconsolidated company in excess of investment 11,081 8,100
Liability associated with sale of tax benefits 54,662 11,665
Deferred lease income 54,561 58,099
Deferred income taxes 35,382 32,654
Liability for unrecognized tax benefits 5,738 10,385
Liabilities for severance pay 18,600 19,323
Asset retirement obligation 23,348 20,856
Other long-term liabilities 21,294 1,776
Total liabilities 1,286,790 1,190,108
Commitments and contingencies (Note 23)
Redeemable nonconrolling interest 4,772
Equity:    
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 49,667,340 and 49,107,901 shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively 50 49
Additional paid-in capital 869,463 849,223
Retained earnings 216,644 148,396
Accumulated other comprehensive income (loss) (7,732) (7,667)
1,078,425 990,001
Noncontrolling interest 91,582 93,873
Total equity 1,170,007 1,083,874
Total liabilities and equity $ 2,461,569 $ 2,273,982
[1] Including unconsolidated investments
v3.6.0.2
Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Property, plant and equipment, net $ 1,556,378 $ 1,559,335
Construction-in-process $ 306,709 $ 248,835
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 200,000,000 200,000,000
Common stock, shares issued (in shares) 49,667,340 49,107,901
Common stock, shares outstanding (in shares) 49,667,340 49,107,901
Senior Secured Notes [Member]    
Deferred financing costs $ 9,177 $ 10,852
Other Loans, Limited and Non-recourse [Member]    
Deferred financing costs 6,409 7,492
Senior Unsecured Bonds [Member]    
Deferred financing costs $ 755 $ 283
Senior unsecured bonds 7.00% 7.00%
Senior unsecured bonds unamortized premium $ 0 $ 513
Other Loans, Full Recourse [Member]    
Deferred financing costs 1,346 435
Variable Interest Entity, Primary Beneficiary [Member]    
Property, plant and equipment, net 1,483,224 1,481,258
Construction-in-process $ 120,853 $ 129,165
v3.6.0.2
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Electricity $ 436,292 $ 375,920 $ 382,301
Product 226,299 218,724 177,223
Total revenues 662,591 594,644 559,524
Cost of revenues:      
Electricity 261,573 242,612 246,630
Product 130,223 133,753 109,143
Total cost of revenues 391,796 376,365 355,773
Gross profit 270,795 218,279 203,751
Operating expenses:      
Research and development expenses 2,762 1,780 783
Selling and marketing expenses 16,424 16,077 15,425
General and administrative expenses 46,710 34,782 28,614
Write-off of unsuccessful exploration activities 3,017 1,579 15,439
Operating income 201,882 164,061 143,490
Other income (expense):      
Interest income 971 297 312
Interest expense, net (67,389) (72,577) (84,654)
Derivatives and foreign currency transaction gains (losses) (5,534) (1,622) (5,839)
Income attributable to sale of tax benefits 16,503 25,431 24,143
Gain from sale of property, plant and equipment 7,628
Other non-operating income (expense), net (5,345) (1,991) 756
Income from continuing operations before income taxes and equity in losses of investees 141,088 113,599 85,836
Income tax (provision) benefit (31,837) 15,258 (27,608)
Equity in losses of investees, net (7,735) (5,508) (3,213)
Income from continuing operations 101,516 123,349 55,015
Net income attributable to noncontrolling interest (7,586) (3,776) (833)
Net income attributable to the Company's stockholders 93,930 119,573 54,182
Comprehensive income:      
Net income 101,516 123,349 55,015
Other comprehensive income (loss), net of related taxes:      
Currency translation adjustments (1,648)
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of unconsolidated investment 1,185 1,028 (8,112)
Loss in respect of derivative instruments designated for cash flow hedge 87 91 (902)
Amortization of unrealized gains in respect of derivative instruments designated for cash flow hedge (96) (118) (141)
Comprehensive income 101,044 124,350 45,860
Comprehensive income attributable to noncontrolling interest (7,179) (3,776) (833)
Comprehensive income attributable to the Company's stockholders $ 93,865 $ 120,574 $ 45,027
Basic:      
Net income (in dollars per share) $ 1.90 $ 2.46 $ 1.19
Diluted:      
Net income (in dollars per share) $ 1.87 $ 2.43 $ 1.18
Weighted average number of shares used in computation of earnings per share attributable to the Company's stockholders:      
Basic (in shares) 49,469 48,562 45,508
Diluted (in shares) 50,140 49,187 45,859
Dividend per share declared (in dollars per share) $ 0.52 $ 0.26 $ 0.21
v3.6.0.2
Consolidated Statements of Equity - USD ($)
shares in Thousands, $ in Thousands
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Parent [Member]
Noncontrolling Interest [Member]
Total
Other comprehensive income (loss), net of related taxes:              
Balance (in shares) 45,461            
Balance (in shares) at Dec. 31, 2013 45,461            
Balance at Dec. 31, 2013 $ 46 $ 735,295 $ (3,088) $ 487 $ 732,740 $ 12,371 $ 745,111
Stock-based compensation 5,571 5,571 5,571
Exercise of options by employees and directors (in shares) 76            
Exercise of options by employees and directors 981 981 981
Cash paid to non controlling interest (651) (651)
Cash dividend declared (9,555) (9,555) (9,555)
Increase in noncontrolling interest in ORTP LLC 257 257
Acquisition of noncontrolling interest in Crump 159 159 (987) (828)
Net income (loss) 54,182 54,182 833 55,015
Other comprehensive income (loss), net of related taxes:              
Loss in respect of derivative instruments designated for cash flow hedge (902) (902) (902)
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of unconsolidated investment (8,112) (8,112) (8,112)
Amortization of unrealized gains in respect of derivative instruments designated for cash flow hedge (141) (141) (141)
Balance (in shares) at Dec. 31, 2014 45,537            
Balance at Dec. 31, 2014 $ 46 742,006 41,539 (8,668) 774,923 11,823 786,746
Other comprehensive income (loss), net of related taxes:              
Stock-based compensation 5,571 5,571 5,571
Exercise of options by employees and directors (in shares) 76            
Exercise of options by employees and directors 981 981 981
Cash paid to non controlling interest (651) (651)
Cash dividend declared (9,555) (9,555) (9,555)
Net income (loss) 54,182 54,182 833 55,015
Balance (in shares) 45,461            
Increase in noncontrolling interest in ORTP LLC 257 257
Currency translation adjustments            
Balance (in shares) 45,537            
Stock-based compensation 3,955 3,955 3,955
Exercise of options by employees and directors (in shares) 574            
Exercise of options by employees and directors 6,085 6,085 6,085
Cash paid to non controlling interest (7,196) (7,196)
Cash dividend declared (12,716) (12,716) (12,716)
Net income (loss) 119,573 119,573 3,776 123,349
Loss in respect of derivative instruments designated for cash flow hedge 91 91 91
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of unconsolidated investment 1,028 1,028 1,028
Amortization of unrealized gains in respect of derivative instruments designated for cash flow hedge (118) (118) (118)
Balance (in shares) at Dec. 31, 2015 49,107            
Balance at Dec. 31, 2015 $ 49 849,223 148,396 (7,667) 990,001 93,873 1,083,874
Other comprehensive income (loss), net of related taxes:              
Stock-based compensation 3,955 3,955 3,955
Exercise of options by employees and directors (in shares) 574            
Exercise of options by employees and directors 6,085 6,085 6,085
Share exchange with Parent (Note 2) (in shares) 2,996            
Share exchange with Parent (Note 2) $ 3 26,012 26,015 26,015
Cash paid to non controlling interest (7,196) (7,196)
Cash dividend declared (12,716) (12,716) (12,716)
Issuance of shares to noncontrolling interest, net of transaction costs 71,165 71,165 85,470 156,635
Net income (loss) 119,573 119,573 3,776 123,349
Balance (in shares) 45,537            
Currency translation adjustments            
Balance (in shares) 49,107            
Stock-based compensation 5,157 5,157 5,157
Exercise of options by employees and directors (in shares) 560            
Exercise of options by employees and directors $ 1 7,249 7,250 7,250
Cash paid to non controlling interest (57,391) (57,391)
Cash dividend declared (25,682) (25,682) (25,682)
Increase in noncontrolling interest in ORTP LLC 3,697 3,697
Net income (loss) 93,930 93,930 7,302 101,516
Loss in respect of derivative instruments designated for cash flow hedge 87 87 87
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of unconsolidated investment 1,185 1,185 1,185
Amortization of unrealized gains in respect of derivative instruments designated for cash flow hedge (96) (96) (96)
Balance (in shares) at Dec. 31, 2016 49,667            
Balance at Dec. 31, 2016 $ 50 869,463 216,644 (7,732) 1,078,425 91,582 1,170,007
Other comprehensive income (loss), net of related taxes:              
Stock-based compensation 5,157 5,157 5,157
Exercise of options by employees and directors (in shares) 560            
Exercise of options by employees and directors $ 1 7,249 7,250 7,250
Cash paid to non controlling interest (57,391) (57,391)
Cash dividend declared (25,682) (25,682) (25,682)
Issuance of shares to noncontrolling interest, net of transaction costs 7,834 7,834 36,268 44,102
Net income (loss) 93,930 93,930 7,302 101,516
Balance (in shares) 49,107            
Increase in noncontrolling interest in Guadeloupe 8,240 8,240
Increase in noncontrolling interest in ORTP LLC 3,697 3,697
Currency translation adjustments $ (1,241) $ (1,241) $ (407) $ (1,648)
Balance (in shares) 49,667            
v3.6.0.2
Consolidated Statements of Equity (Parentheticals) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Retained Earnings [Member]      
Cash dividend declared, per share (in dollars per share) $ 0.52 $ 0.26 $ 0.21
Loss in respect of derivative instruments designated for cash flow hedge, related tax $ 54 $ 56 $ 554
Change in unrealized gains or losses in respect of the Company's share in derivative instruments of unconsolidated investment, tax 0 0 0
Amortization of unrealized gains, tax $ 57 $ 73 $ 87
Cash dividend declared, per share (in dollars per share) $ 0.52 $ 0.26 $ 0.21
v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 101,516 $ 123,349 $ 55,015
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 105,977 107,206 100,798
Amortization of premium from senior unsecured bonds (513) (306) (308)
Accretion of asset retirement obligation 1,778 1,198 829
Stock-based compensation 5,157 3,955 5,571
Amortization of deferred lease income (2,685) (2,685) (2,685)
Income attributable to sale of tax benefits, net of interest expense (6,962) (17,467) (13,823)
Equity in losses of investees 7,735 5,508 3,213
Mark-to-market of derivative instruments 319 4,129 (6,960)
Write-off of unsuccessful exploration activities 3,017 1,579 15,439
Gain on severance pay fund asset (304) (119) 1,492
Gain on sale of a subsidiary (7,628)
Deferred income tax provision 18,473 (39,530) 13,135
Liability for unrecognized tax benefits (4,647) 2,874 2,561
Deferred lease revenues (853) 224 (251)
Other 484 (181)
Changes in operating assets and liabilities, net of amounts acquired:      
Receivables (33,280) (3,806) 47,114
Costs and estimated earnings in excess of billings on uncompleted contracts (27,078) 2,673 (6,576)
Inventories 6,297 (1,144) 5,359
Prepaid expenses and other (12,540) (2,579) (1,337)
Deposits and other (1,009) (648) 584
Accounts payable and accrued expenses (1,375) (339) (9,638)
Due from/to related entities, net 451 (9)
Billings in excess of costs and estimated earnings on uncompleted contracts 2,262 (9,168) (16,821)
Liabilities for severance pay (786) (1,076) (3,442)
Other long-term liabilities 3,310 (2,561) (903)
Due from/to Parent (513) (955)
Net cash provided by operating activities 159,285 190,025 213,235
Cash flows from investing activities:      
Cash acquired in organizational restructuring and share exchange with parent 15,391
Net change in restricted cash, cash equivalents and marketable securities 15,241 43,745 (42,183)
Cash received from sale of a subsidiary 35,250
Capital expenditures (151,930) (152,450) (151,153)
Cash grant received from the U.S. Treasury under Section 1603 of the ARRA 27,427
Investment in unconsolidated companies (3,569) (631)
Cash paid for acquisition of controlling interest in a subsidiary, net of cash acquired (20,135)
Intangible assets acquired (500)
Decrease in severance pay fund asset, net of payments made to retired employees 1,862 2,843 2,128
Net cash used in investing activities (158,531) (90,971) (129,162)
Cash flows from financing activities:      
Proceeds from sale of membership interests to noncontrolling interest, net of transaction costs 44,102 156,635
Proceeds from long-term loans, net of transaction costs 142,500 42,000 140,000
Proceeds from exercise of options by employees 7,249 6,085 981
Proceeds from issuance of senior unsecured notes, net of transaction costs 203,483
Purchase of Senior unsecured notes (249,468)
Cash received from noncontrolling interest 1,972 1,654 2,234
Purchase of OFC Senior Secured Notes (6,815) (30,638) (12,860)
Proceeds from revolving credit lines with banks 309,400 598,800 2,830,683
Repayment of revolving credit lines with banks (309,400) (619,100) (2,922,400)
Cash received from noncontrolling interest 1,972 1,654 2,234
Payment for acquisition of noncontrolling interest in Crump (1,490)
Repayments of long-term debt (62,052) (71,701) (111,180)
Cash paid to noncontrolling interest (64,065) (19,068) (11,320)
Cash paid for interest rate cap (1,505)
Payments of capital leases (1,178)
Deferred debt issuance costs (6,402) (5,316) (4,785)
Cash dividends paid (25,682) (12,716) (9,555)
Net cash provided by (used in) financing activities 43,541 46,635 (101,197)
Net change in cash and cash equivalents 44,295 145,689 (17,124)
Cash and cash equivalents at beginning of period 185,919 40,230 57,354
Cash and cash equivalents at end of period 230,214 185,919 40,230
Cash paid during the year for:      
Interest, net of interest capitalized 55,366 55,492 62,376
Income taxes, net 18,490 10,419 5,787
Supplemental non-cash investing and financing activities:      
Increase (decrease) in accounts payable related to purchases of property, plant and equipment (2,219) 3,810 3,853
Accrued liabilities related to financing activities 6,291 1,665 658
Increase (decrease) in asset retirement cost and asset retirement obligation 714 516 (366)
Opal Transaction [Member]      
Cash flows from financing activities:      
Cash received from noncontrolling interest 59,897
Cash received from noncontrolling interest $ 59,897
v3.6.0.2
Note 1 - Business and Significant Accounting Policies
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
NOTE
1
— BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
 
Business
 
Ormat Technologies, Inc. (the “Company”) is primarily engaged in the geothermal and recovered energy business, including the supply of equipment that is manufactured by the Company and the design and construction of power plants for projects owned by the Company or for
third
parties. The Company owns and operates geothermal and recovered energy-based power plants in various countries, including the United States of America (“U.S.”), Kenya, and Guatemala. The Company
’s equipment manufacturing operations are located in Israel.
 
Most of the Company
’s domestic power plant facilities are Qualifying Facilities under the Public Utility Regulatory Policies Act of
1978
(“PURPA”). The power purchase agreements (“PPAs”) for certain of such facilities are dependent upon their maintaining Qualifying Facility status. Management believes that all of the facilities located in the U.S. were in compliance with Qualifying Facility status requirements as of
December
31,
2016.
 
 
Cash dividends
 
During the years ended
December
31,
2016,
2015,
and
2014,
the Company’s Board of Directors declared, approved, and authorized the payment of cash dividends in the aggregate amount of
$25.7
million
($0.52
per share),
$12.7
million
($0.26
per share), and
$9.6
million
($0.21
per share), respectively. Such dividends were paid in the years declared.
 
Rounding
 
Dollar amounts, except per share data, in the notes to these financial statements are rounded to the closest
$1,000,
unless otherwise indicated
.
 
Basis of presentation
 
The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company and of all majority-owned subsidiaries in which the Company exercises control over operating and financial policies, and variable interest entities in which the Company has an interest and is the primary beneficiary. Intercompany accounts and transactions have been eliminated in consolidation
.
 
Investments in less-than-majority-owned entities or other entities in which the Company exercises significant influence over operating and financial policies are accounted for using the equity method of accounting or consolidated if they are a variable interest entity in which the Company has an interest and is the primary beneficiary. Under the equity method, original investments are recorded at cost and adjusted by the Company
’s share of undistributed earnings or losses of such companies. The Company’s earnings or losses in investments accounted for under the equity method have been reflected as “equity in income (losses) of investees, net” on the Company’s consolidated statements of operations and comprehensive income (loss).
 
Cash and cash equivalents
 
The Company considers all highly liquid instruments, with an original maturity of
three
months or less, to be cash equivalents
.
 
Restricted cash, cash equivalents
, and marketable securities
 
Under the terms of certain long-term debt agreements, the Company is required to maintain certain debt service reserves, cash collateral and operating fund accounts that have been classified as restricted cash and cash equivalents. Funds that will be used to satisfy obligations due during the next
twelve
months are classified as current restricted cash and cash equivalents, with the remainder classified as non-current restricted cash and cash equivalents. Such amounts were invested primarily in money market accounts and commercial paper with a minimum investment grade of “AA”.
 
Concentration of credit risk
 
Financial instruments which potentially subject the Company to concentration of credit risk consist principally of temporary cash investments and accounts receivable
.
 
The Company places its temporary cash investments with high credit quality financial institutions located in the U.S. and in foreign countries. At
December
31,
2016
and
2015,
the Company had deposits totaling
$72.5
million and
$19.0
million, respectively, in
seven
U.S. financial institutions that were federally insured up to
$250,000
per account. At
December
31,
2016
and
2015,
the Company
’s deposits in foreign countries of approximately
$166.2
million and
$181.0
million, respectively, were not insured.
 
At
December
31,
2016
and
2015,
accounts receivable related to operations in foreign countries amounted to
approximately
$53.3
million and
$27.8
million, respectively. At
December
31,
2016,
and
2015,
accounts receivable from the Company’s major customers (see Note
20)
amounted to approximately
60%
and
66%,
respectively, of the Company’s accounts receivable.
 
The Company has historically been able to collect on substantially all of its receivable balances, and accordingly,
no
provision for doubtful accounts has been made.
 
Inventories
 
Inventories consist primarily of raw material parts and sub-assemblies for power units, and are stated at the lower of cost or market value, using the weighted-average cost method. Inventories are reduced by a provision for slow-moving and obsolete inventories. This provision was not material at
December
31,
2016
and
2015.
 
Deposits and other
 
Deposits and other consist primarily of performance bonds for construction projects, long-term insurance contract and receivables, and derivative instruments.
 
Deferred charges
 
Deferred charges represent prepaid income taxes on intercompany sales. Such amounts are amortized using the straight-line method and included in income tax provision over the life of the related property, plant and equipment.
 
Property, plant and equipment, net
 
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:
 
Buildings (in years)
    
 
25
 
  
Leasehold improvements (in years)
    
15
-
20
  
Machinery and equipment
— manufacturing and drilling (in years)
    
 
10
 
  
Machinery and equipment
— computers (in years)
    
3
-
5
  
Office equipment
— furniture and fixtures (in years)
    
5
-
15
  
Office equipment
— other (in years)
    
5
-
10
  
Automobiles (in years)
    
5
-
7
  
 
The cost and accumulated depreciation of items sold or retired are removed from the accounts. Any resulting gain or loss recognized currently and is recorded in the accompanying statements of operations.
 
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
$3.3
million,
$4.1
million, and
$3.2
million for the years ended
December
31,
2016,
2015,
and
2014,
respectively.
 
Cash Grants
 
From
2009
to
2014,
the Company was awarded cash grants from the U.S. Department of the Treasury (“U.S. Treasury”) for Specified Energy Property in Lieu of Tax Credits under Section
1603
of the American Recovery and Reinvestment Act of
2009
(“ARRA”). The Company recorded the cash grant as a reduction in the carrying value of the related plant and amortized the grants as a reduction in depreciation expense over the plant’s estimated useful life.
 
Exploration and development costs
 
The Company capitalizes costs incurred in connection with the exploration and development of geothermal resources once it acquires land rights to the potential geothermal resource. Prior to acquiring land rights, the Company makes an initial assessment that an economically feasible geothermal reservoir is probable on that land. The Company determines the economic feasibility of potential geothermal resources internally, with all available data and external assessments vetted through the exploration department and occasionally using outside service providers. Costs associated with the initial assessment are expensed and included in cost of electricity revenues in the consolidated statements of operations and comprehensive income (loss). Such costs were immaterial during the years ended
December
31,
2016,
2015,
and
2014.
It normally takes
two
to
three
years from the time active exploration of a particular geothermal resource begins to the time a production well is in operation, assuming the resource is commercially viable. However, in certain sites the process
may
take longer due to permitting delays, transmission constrains or any other commercial milestones that are required to be reached in order to pursue the development process.
 
In most cases, the Company obtains the right to conduct the geothermal development and operations on land owned by the Bureau of Land Management (“BLM”), various states or with private parties. In consideration for certain of these leases, the Company
may
pay an up-front bonus payment which is a component of the competitive lease process. The up-front bonus payments and other related costs, such as legal fees, are capitalized and included in construction-in-process. The annual land lease payments made during the exploration, development and construction phase are expensed as incurred and included in “electricity cost of revenues” in the consolidated statements of operations and comprehensive income (loss). Upon commencement of power generation on the leased land, the Company begins to pay to the lessors long-term royalty payments based on the utilization of the geothermal resources as defined in the respective agreements. Such payments are expensed when the related revenues are earned and included in “electricity cost of revenues” in the consolidated statements of operations and comprehensive income (loss).
 
Following the acquisition of land rights to the potential geothermal resource, the Company conducts further studies and surveys, including water and soil analyses among others, and augments its database with the results of these studies. The Company then initiates a suite of geophysical surveys to assess the resource and determine drilling locations. If the results of these activities support the initial assessment of the feasibility of the geothermal resource, the Company then proceeds to exploratory drilling and other related activities which
may
include drilling of temperature gradient holes, drilling of slim holes, building access roads to drilling locations, drilling full size production and/or injection wells and flow tests. If the slim hole supports a conclusion that the geothermal resource will support a commercially viable power plant, it
may
be converted to a full-size commercial well, used either for extraction or re-injection or geothermal fluids, or be used as an observation well to monitor and define the geothermal resource. Costs associated with these activities and other directly attributable costs, including interest once physical exploration activities begin and permitting costs are capitalized and included in “construction-in-process”. If the Company concludes that a geothermal resource will not support commercial operations, capitalized costs are expensed in the period such determination is made.
 
When deciding whether to continue holding lease rights and/or to pursue exploration activity, we diligently prioritize our prospective investments, taking into account resource and probability assessments in order to make informed decisions about whether a particular project will support commercial operations
. As a result, write-off of unsuccessful activities for the year ended
December
31,
2016,
2015
and
2014,
was
$3.0
million,
$1.6
million, and
$15.4
million. In
2016
and
2015,
the write-offs included the exploration costs related to the Company’s exploration activities primarily in the Twilight site in Oregon and the Maui site in Hawaii of
$1.0
million, respectively. In
2014,
the write-offs included the exploration costs related to the Company’s exploration activities in the Wister site in California of
$8.1
million and the Mount Spur site in Alaska of
$7.3
million.
 
Grants received from the U.S. Department of Energy (“DOE”) are offset against the related exploration and development costs. Such grants amounted to
$0.3
million,
$0.8
million, and
$1.7
million for the years ended
December
31,
2016,
2015,
and
2014,
respectively.
 
All exploration and development costs that are being capitalized, including the up-front bonus payments made to secure land leases, will be depreciated over their estimated useful lives when the related geothermal power plant is substantially complete and ready for use. A geothermal power plant is substantially complete and ready for use when electricity generation commences.
 
Asset retirement obligation
 
The Company records the fair value of a legal liability for an asset retirement obligation in the period in which it is incurred. The Company
’s legal liabilities include plugging wells and post-closure costs of power producing sites. When a new liability for asset retirement obligations is recorded, the Company capitalizes the costs of the liability by increasing the carrying amount of the related long-lived asset. The liability is accreted to its present value each period, and the capitalized cost is depreciated over the useful life of the related asset. At retirement, the obligation is settled for its recorded amount at a gain or loss.
 
Deferred financing and lease transaction costs
 
Deferred financing costs are amortized over the term of the related obligation using the effective interest method. Amortization of deferred financing costs is presented as interest expense in the consolidated statements of operations and comprehensive income (loss). Accumulated amortization related to deferred financing costs amounted to
$31.1
million and
$37.2
million at
December
31,
2016
and
2015,
respectively. Amortization expense for the years ended
December
31,
2016,
2015,
and
2014
amounted to
$6.9
million,
$8.8
million, and
$6.5
million, respectively. During the years ended
December
31,
2016,
2015
and
2014
amounts of
$0.1
million,
$0.5
million and
$0.7
million, respectively, were written-off as a result of the extinguishment of liability.
 
Deferred transaction costs relating to the Puna operating lease (see Note
13)
in the amount of
$4.2
million are amortized using the straight-line method over the
23
-year term of the lease. Amortization of deferred transaction costs is presented in cost of revenues in the consolidated statements of operations and comprehensive income (loss). Accumulated amortization related to deferred lease costs amounted to
$2.1
million and
$2.0
million at
December
31,
2016
and
2015,
respectively. Amortization expense for each of the years ended
December
31,
2016,
2015,
and
2014
amounted to
$0.2
million.
 
Goodwill
 
Goodwill represents the excess of the fair value of consideration transferred in the Guadeloupe business combination transaction over the fair value of tangible and intangible assets acquired net of the fair value of liabilities assumed and the fair value of any noncontrolling interest in the acquisition. Goodwill is not amortized but rather subject to periodic impairment testing on an annual basis or if an event occurs or circumstances change that would more likely than not reduce the fair value of reporting unit below its carrying amount.
 
Intangible assets
 
Intangible assets consist of allocated acquisition costs of PPAs, which are amortized using the straight-line method over the
13
to
25
-year terms of the agreements (see Note
10
).
 
Impairment of long-lived assets and long-lived assets to be disposed of
 
The Company evaluates long-lived assets, such as property, plant and equipment and construction-in-process for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset
may
not be recoverable. Factors which could trigger an impairment include, among others, significant underperformance relative to historical or projected future operating results, significant changes in the Company
’s use of assets or its overall business strategy, negative industry or economic trends, a determination that an exploration project will not support commercial operations, a determination that a suspended project is not likely to be completed, a significant increase in costs necessary to complete a project, legal factors relating to its business or when it concludes that it is more likely than not that an asset will be disposed of or sold.
 
The Company tests its operating plants that are operated together as a complex for impairment at the complex level because the cash flows of such plants result from significant shared operating activities. For example, the operating power plants in a complex are managed under a combined operation management generally with
one
central control room that controls all of the power plants in a complex and
one
maintenance group that services all of the power plants in a complex. As a result, the cash flows from individual plants within a complex are not largely independent of the cash flows of other plants within the complex. The Company tests for impairment its operating plants which are not operated as a complex as well as its projects under exploration, development or construction that are not part of an existing complex at the plant or project level. To the extent an operating plant becomes part of a complex, the Company will test for impairment at the complex level.
 
Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated future net undiscounted cash flows expected to be generated by the asset. The significant assumptions that the Company uses in estimating its undiscounted future cash flows include: (i) projected generating capacity of the complex or power plant and rates to be received under the respective PPA(s)
and expected market rates thereafter
and (ii) projected operating expenses of the relevant complex or power plant. Estimates of future cash flows used to test recoverability of a long-lived asset under development also include cash flows associated with all future expenditures necessary to develop the asset.
 
If the assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds their fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. Management believes that no impairment exists for long-lived assets; however, estimates as to the recoverability of such assets
may
change based on revised circumstances. If actual cash flows differ significantly from the Company
’s current estimates, a material impairment charge
may
be required in the future.
 
Derivative instruments
 
Derivative instruments (including certain derivative instruments embedded in other contracts) are measured at their fair value and recorded as either assets or liabilities unless exempted from derivative treatment as a normal purchase and sale. All changes in the fair value of derivatives are recognized in earnings unless specific hedge criteria are met, which requires a company to formally document, designate and assess the effectiveness of transactions that receive hedge accounting.
 
The Company maintains a risk management strategy that incorporates the use of swap contracts and put options on oil and natural gas prices, forward exchange contracts, interest rate swaps, and interest rate caps to minimize significant fluctuation in cash flows and/or earnings that are caused by oil and natural gas prices, exchange rate or interest rate volatility. Gains or losses on contracts that initially qualify for cash flow hedge accounting, net of related taxes, are included as a component of other comprehensive income or loss and accumulated other comprehensive income or loss are subsequently reclassified into earnings when the hedged forecasted transaction affects earnings. Gains or losses on contracts that are not designated as a cash flow hedge are included currently in earnings.
 
Foreign currency translation
 
The U.S. dollar is the functional currency for all of the Company
’s consolidated operations and those of its equity affiliates except for the Guadeloupe power plant. For those entities, all gains and losses from currency translations are included within the line item “Derivatives and foreign currency transaction gains (losses)” within the consolidated statements of operations and comprehensive income (loss). The Euro is the functional currency of the Guadeloupe power plant and thus gains and losses from currency translation adjustments related to Guadeloupe are included as currency translation adjustments in accumulated other comprehensive income in the consolidated statements of equity and in comprehensive income.
 
Comprehensive income (loss) reporting
 
Comprehensive income (loss) includes net income or loss plus other comprehensive income (loss), which for the Company consists of changes in unrealized gains or losses in respect of the Company
’s share in derivatives instruments of unconsolidated investment, foreign currency translation adjustments and the mark-to-market gains or losses on derivative instruments designated as a cash flow hedge. For the years ended
December
31,
2016,
2015
and
2014,
the Company reclassified
$9
thousand,
$27
thousand and
$141
thousand, respectively, from other comprehensive income, of which
$12.0
thousand,
$44
thousand and
$228
thousand, respectively, were recorded to reduce interest expense and
$3.0
thousand,
$17
thousand and
$87
thousand, respectively, were recorded against the income tax provision, in the consolidated statements of operations and comprehensive income (loss).
 
Revenues and cost of revenues
 
Revenues are primarily related to: (i) sale of electricity from geothermal and recovered energy-based power plants owned and operated by the Company and (ii) geothermal and recovered energy-based power plant equipment engineering, sale, construction and installation, and operating services.
 
Revenues related to the sale of electricity from geothermal and recovered energy-based power plants and capacity payments are recorded based upon output delivered and capacity provided at rates specified under relevant contract terms. For PPAs agreed to, modified, or acquired in business combinations on or after
July
1,
2003,
the Company determines whether such PPAs contain a lease element requiring lease accounting. Revenue from such PPAs are accounted for in electricity revenues. The lease element of the PPAs is also assessed in accordance with the revenue arrangements with multiple deliverables guidance, which requires that revenues be allocated to the separate earnings processes based on their relative fair value. PPAs with minimum lease rentals which vary over time are generally recognized on the straight-line basis over the term of the PPAs. PPAs with contingent rentals are recognized when earned.
 
Revenues from engineering, operating services, and parts and product sales are recorded upon providing the service or delivery of the products and parts and when collectability is reasonably assured. Revenues from the supply and/or construction of geothermal and recovered energy-based power plant equipment and other equipment to
third
parties are recognized using the percentage-of-completion method. Revenue is recognized based on the percentage relationship that incurred costs bear to total estimated costs. Costs include direct material, labor, and indirect costs. Selling, marketing, general, and administrative costs are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability, including those arising from contract penalty provisions and final contract settlements,
may
result in revisions to costs and revenues and are recognized in the period in which the revisions are determined
.
 
In specific instances where there is a lack of dependable estimates or inherent risks cause forecast to be doubtful, then the completed-contract method is followed. Revenue is recognized when the contract is substantially complete and when collectability is reasonably assured. Costs that are closely associated with the project are deferred as contract costs and recognized similarly to the associated revenues.
 
Warranty on products sold
 
The Company generally provides a
one
-year warranty against defects in workmanship and materials related to the sale of products for electricity generation. Estimated future warranty obligations are included in operating expenses in the period in which the related revenue is recognized. Such charges are immaterial for the years ended
December
31,
2016,
2015,
and
2014
.
 
Research and development
 
Research and development costs incurred by the Company for the development of existing and new geothermal, recovered energy and remote power technologies are expensed as incurred. Grants received from the DOE are offset against the related research and development expenses. Such grants amounted to
$0
million,
$0
million, and
$0.6
million for the years ended
December
31,
2016,
2015,
and
2014,
respectively
.
 
Stock-based compensation
 
The Company accounts for stock-based compensation using the fair value method whereby compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the requisite employee service period (generally the vesting period of the grant). Prior to
2016,
the Company used the Black-Scholes formula to estimate the fair value of the stock-based compensation. In
2016,
the Company used the Exercise Multiple-Based Lattice SAR-Pricing Model to value the stock-based compensation awards to reflect accumulated historic data retained of behavioral parameters.
 
Tax monetization Transactions
 
The Company has
three
tax monetization transactions, OPC, ORTP and Opal, as described in Note
14.
  The purpose of these transactions is to form tax partnerships, whereby investors provide cash in exchange for equity interests that provide the holder a right to the majority of tax benefits associated with a renewable energy project.  We account for a portion of the proceeds from the transaction as debt under ASC
470.
  Given that a portion of these transactions is structured as a purchase of an equity interest we also classify a portion as noncontrolling interest consistent with guidance in ASC
810.
  The portion recorded to noncontrolling interest is initially measured as the fair value of the discounted Tax Attributes and cash distributions which represents the partner's residual economic interest.  The residual proceeds is recognized as the initial carrying value of the debt which is classified as a liability associated with sale tax benefits. We apply the effective interest rate method to the liability component as described by ASC
835
and CON
7.
  The tax benefits and cash distributions realized by the partner each period are treated as the debt servicing amounts, giving rise to income attributable to the sale of tax benefits.  The deferred transaction costs have been capitalized and amortized using the effective interest method.
 
Income taxes
 
Income taxes are accounted for using the asset and liability approach, which requires the recognition of taxes payable or refundable for the current year and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in the Company
’s financial statements or tax returns. The measurement of current and deferred tax assets and liabilities are based on provisions of the enacted tax law. The effects of future changes in tax laws or rates are not anticipated. The Company accounts for investment tax credits and production tax credits as a reduction to income taxes in the year in which the credit arises. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not, more likely than not expected to be realized. A full valuation allowance has been established to offset the Company’s U.S. deferred tax assets. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Interest and penalties assessed by taxing authorities on an underpayment of income taxes are included as a component of income tax provision in the consolidated statements of operations and comprehensive income.
 
Earnings (loss) per share
 
Basic earnings (loss) per share attributable to the Company
’s stockholders (“earnings (loss) per share”) is computed by dividing net income or loss attributable to the Company’s stockholders by the weighted average number of shares of common stock outstanding for the period. The Company does not have any equity instruments that are dilutive, except for stock-based awards.
 
The table below shows the reconciliation of the number of shares used in the computation of basic and diluted earnings per share
:
 
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(In thousands)
  
Weighted average number of shares used in computation of basic earnings per share
    
49,469
      
48,562
      
45,508
  
Add:
                        
Additional shares from the assumed exercise of employee stock options
    
671
      
625
      
351
  
                         
Weighted average number of shares used in computation of diluted earnings per share
    
50,140
      
49,187
      
45,859
  
 
 
The number of stock-based awards that could potentially dilute future earnings per share and were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive was
102,793,
467,766,
and
3,237,593,
respectively, for the years ended
December
31,
2016,
2015,
and
2014.
 
Use of estimates in preparation of financial statements
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 long-lived assets and assets to be disposed of, revenue recognition of product sales using the percentage of completion method, asset retirement obligations, and the provision for income taxes.
 
New Accounting Pronouncements
 
New accounting pronouncements effective in the year ended
December
31,
2016
 
Amendments to Fair Value Measurement
 
In
June
2015,
the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)
2015
-
10,
Amendment to Fair Value Measurement, Subtopic
820
-
10.
The amendment provides that the reporting entity shall disclose for each class of assets and liabilities measured at fair value in the statement of financial position the following information: for recurring fair value measurements, the fair value measurement at the end of the reporting period, and for non-recurring fair value measurement, the fair value measurement at the relevant measurement date and the reason for the measurement. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2015,
including interim periods within those reporting periods. The adoption of this guidance did not have a material impact on the Company
’s consolidated financial statements.
 
Amendments to the Consolidation Analysis
 
In
February
2015,
the FASB issued ASU
2015
-
02,
Amendments to the Consolidation Analysis, Topic
810.
The update provides that all reporting entities that hold a variable interest in other legal entities will need to re-evaluate their consolidation conclusions and potentially revise their disclosures. This amendment affects both variable interest entity (“VIE”) and voting interest entity (“VOE”) consolidation models. The update does not change the general order in which the consolidation models are applied. A reporting entity that holds an economic interest in, or is otherwise involved with, another legal entity (i.e. has a variable interest) should
first
determine if the VIE model applies, and if so, whether it holds a controlling financial interest under that model. If the entity being evaluated for consolidation is not a VIE, then the VOE model should be applied to determine whether the entity should be consolidated by the reporting entity. Since consolidation is only assessed for legal entities, the determination of whether there is a legal entity is important. It is often clear when the entity is incorporated, but unincorporated structures can also be legal entities and judgment
may
be required to make that determination. The update contains a new example that highlights the discretion used to make this legal entity determination. The update is effective for annual reporting periods beginning after
December
15,
2015,
including interim periods within those reporting periods. The adoption of this guidance did not have a material impact on the Company
’s consolidated financial statements.
 
Simplifying the Presentation of Debt Costs
 
In
April
2015,
the FASB issued ASU
2015
-
03,
Interest-Imputation of Interest: Simplifying the Presentation of Debt Costs, Subtopic
835
-
30.
The update provides that debt issuance costs related to a recognized debt liability be presented in the balance sheet as direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The amendments in this update are effective for financial statements issued for fiscal years beginning after
December
15,
2015,
and interim periods within those fiscal years. The Company retrospectively adopted this update in its interim period beginning
January
1,
2016.
The impact of the adoption resulted in a reclassification of debt issuance costs totaling $
17.7
million and
$19.1
million as of
December
31,
2016
and
December
31,
2015,
respectively.
 
In
August
2015,
the FASB issued ASU
2015
-
15,
Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, Subtopic
835
-
30.
The update clarifies that given the absence of authoritative guidance within Update
2015
-
03
for debt issuance costs described below, debt issuance costs related to line-of-credit arrangements can be deferred and presented as assets and subsequently amortized ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings under the line-of-credit arrangement. The amendments in this update are effective for financial statements issued for fiscal years beginning after
December
15,
2015,
and interim periods within those fiscal years. The Company adopted this update in its interim period beginning
January
1,
2016
and continues to present debt issuance costs related to such line-of-credit arrangements as assets amortized ratably over the respective term of the line-of credit arrangements. Debt issuance costs related to such line-of-credit arrangements as of
December
31,
2016
and
December
31,
2015,
totaled
$1.1
million and
$1.0
million, respectively.
 
New accounting pronouncements effective in future periods
 
 
Business Combinations
 
In
January
2017,
the FASB issued ASU
2017
-
01,
Business Combinations (Topic
805).
The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this update primarily provide a screen to determine when a set of assets and activities is not a business and by that reduces the number of transactions that need to be further evaluated. The amendments in this update should be applied prospectively and are effective for financial statements issued for fiscal years beginning after
December
15,
2017,
and interim periods within those fiscal years. Early adoption is permitted. 
The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements.
 
Statement of Cash Flows
 
In
November
2016,
the FASB issued ASU
2016
-
018,
Statement of Cash Flows (Topic
230)
– Restricted Cash. The amendments in this update require that a statement of cash flows explain the changes during the period in total cash, cash equivalents, and the amounts generally described as restricted cash or cash equivalents. Therefore, amounts of restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this update should be applied retrospectively for each period presented and are effective for financial statements issued for fiscal years beginning after
December
15,
2017,
and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements.
 
Intra-Entity Transfers of Assets Other than Inventory
 
 
     In
October
2016,
the FASB issued ASU
2016
-
16,
Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory. The amendments in this update require that the entity would recognize the tax expense from the sale of the asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. The new guidance does not apply to intra-entity transfers on inventory. The amendments in this update should be applied for each period presented and are effective for financial statements issued for fiscal years beginning after
December
15,
2017,
and interim periods within those fiscal years. The modified retrospective approach will be required for transition to the new guidance, with cumulative-effect adjustment recorded in retained earnings as of the beginning of the period of adoption. Early adoption is permitted in the
first
quarter of
2017.
The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements.
 
Interests Held through Related Parties that are under Common Control
 
 
     In
October
2016,
the FASB issued ASU
2016
-
17,
Consolidation (Topic
810):
Interests held through Related Parties that are under Common Control. The amendments in this update require that if a decision maker is required to evaluate whether it is the primary beneficiary of a VIE, it will need to consider only its proportionate indirect interest in the VIE held through a common control party. The amendments in this update should be applied retrospectively for each period presented and are effective for financial statements issued for fiscal years beginning after
December
15,
2016,
and interim periods within those fiscal years. The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements.
 
Improvement to Employee Share-Based Payment Accounting
 
In
March
2016,
the FASB issued ASU
2016
-
09,
Improvement to Employee Share-Based Payment Accounting, an
 update to the guidance on stock-based compensation. Under the new guidance, all excess tax benefits and tax deficiencies will be recognized in the income statement as they occur. This will replace the current guidance, which requires tax benefits that exceed compensation cost (windfalls) to be recognized in equity. It will also eliminate the need to maintain a “windfall pool,” and will remove the requirement to delay recognizing a windfall until it reduces current taxes payable. The new guidance will also change the cash flow presentation of excess tax benefits, classifying them as operating inflows, consistent with other cash flows related to income taxes. Today, windfalls are classified as financing activities. Also, this will affect the dilutive effects in earnings per share, as there will no longer be excess tax benefits recognized in additional paid in capital. Today those excess tax benefits are included in assumed proceeds from applying the treasury stock method when computing diluted EPS. Under the amended guidance, companies will be able to make an accounting policy election to either
(1)
continue to estimate forfeitures or
(2)
account for forfeitures as they occur. This updated guidance is effective for annual and interim periods beginning after 
December
15,
2016.
 Early adoption is permitted. The Company is currently evaluating the potential impact, if any, of the adoption of this update on its consolidated financial statements, however, any impact is not expected to be material.
 
Leases
 
In
February
2016,
the FASB issued ASU
2016
-
02,
Leases, Topic
842.
The amendment in this Update introduce a number of changes and simplifications from previous guidance, primarily the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The Update retains the distinction between finance leases and operating leases and the classification criteria between the
two
types remain substantially similar. Also, lessor accounting remains largely unchanged from previous guidance, however, key aspects in the Update were aligned with the revenue recognition guidance in Topic
606.
Additionally, the Update defines a lease as a contract, or part of a contract, that conveys the right to control the use of identified asset for a period of time in exchange for considerations. Control over the use of the identified means that the customer has both (a) the right to obtain substantially all of the economic benefits from the use of the asset and (b) the right to direct the use of the asset. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2018,
including interim periods within those reporting periods. Early adoption is permitted. The Company is currently evaluating the potential impact, if any, of the adoption of these amendments on its consolidated financial statements.
 
Recognition and Measurement of Financial Assets and Financial Liabilities
 
In
January
2016,
the FASB issued ASU
2016
-
01,
Recognition and Measurement of Financial Assets and Financial Liabilities. The update primarily requires that an entity should present separately, in other comprehensive income, the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk if the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The application of this update should be by means of cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments in this update are effective for financial statements issued for fiscal years beginning after
December
15,
2017,
and interim periods within those fiscal years. Early adoption is permitted as of the beginning of the fiscal year of adoption. The Company is currently evaluating the potential impact, if any, of the adoption of this update on its consolidated financial statements.
 
Simplifying the Measurement of Inventory
 
In
July
2015,
the FASB issued ASU
2015
-
11,
Simplifying the Measurement of Inventory, Topic
330.
The update contains no amendments to disclosure requirements, but replaces the concept of
‘lower of cost or market’ with that of ‘lower of cost and net realizable value’. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2016,
including interim periods within those reporting periods. The amendments should be applied prospectively with early adoption permitted. The Company estimates that the potential impact, if any, of the adoption of this update on its consolidated financial statements is immaterial.
 
Revenues from Contracts with Customers
 
In
May
2014,
the FASB issued ASU
2014
-
09,
Revenues from Contracts with Customers, Topic
606,
which was a joint project of the FASB and the International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards. The update provides that an entity should recognize revenue in connection with the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Specifically, an entity is required to apply each of the following steps:
(1)
identify the contract(s) with the customer;
(2)
identify the performance obligations in the contracts;
(3)
determine the transaction price;
(4)
allocate the transaction price to the performance obligation in the contract; and
(5)
recognize revenue when (or as) the entity satisfies a performance obligation. ASU
2014
-
09
also prescribes additional financial presentations and disclosures. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2017,
including interim periods within those reporting periods. Early adoption is permitted no earlier than
2017
for calendar fiscal year entities. The Company expects the adoption of this standard to have an immaterial impact, if any, on its Electricity segment as it accounts for its PPA
’s under ASC
840,
Leases. The Company still evaluates the potential impact of the adoption of the standard on its Product segment, however, it believes that such impact, if any, will be immaterial.
 
In
March
2016,
the FASB issued ASU
2016
-
08,
Principal versus Agent Considerations. The amendment in this Update do not change the core principal of the guidance and are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations. When another entity is involved in providing goods or services to a customer, an entity is required to determine if the nature of its promise is to provide the specific good or service itself (that is, the entity is a principal) or to arrange for that good or service to be provided by the other party (that is, the entity is an agent). The guidance includes indicators to assist an entity in determining whether it acts as a principal or agent in a specified transaction. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2017,
including interim periods within those reporting periods. Early adoption is permitted no earlier than
2017
for calendar fiscal year entities. The Company is currently evaluating the potential impact, if any, of the adoption of these amendments on its consolidated financial statements,
however, it believes that any such impact, if any, will be immaterial.
v3.6.0.2
Note 2 - Share Exchange Transaction
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Share Exchange Transaction [Text Block]
NOTE
2
— SHARE EXCHANGE TRANSACTION
 
Share exchange transaction
 
On
February
12,
2015,
the Company completed the share exchange transaction with its then-parent entity, Ormat Industries Ltd. ("OIL") following which, the Company became a noncontrolled public company and its public float increased from approximately
40%
to approximately
76%
of its total shares outstanding. Under the terms of the share exchange, OIL shareholders received
0.2592
shares in the Company for each share in OIL, or an aggregate of approximately
30.2
million shares, reflecting a net issuance of approximately
3.0
million shares (after deducting the
27.2
million shares that OIL held in the Company). Consequently, the number of total shares of the Company outstanding increased from approximately
45.5
million shares to approximately
48.5
million shares as of the closing of the share exchange.
 
In exchange, the Company also received
$15.4
million in cash,
$0.6
million in other assets and
$12.1
million in land and buildings and assumed
$0.5
million in liabilities. OIL's principal business purpose was to hold its interest in the Company and the transaction resulted in a transfer of non-material assets from OIL to the Company. Therefore, there was no change in the reporting entity as a result of the transaction and the Company recognized the transfer of net assets at their carrying value as presented in OIL's financial statements. Any activities of OIL will be accounted for prospectively by the Company.
v3.6.0.2
Note 3 - Northleaf Transactions and Business Acquisition
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Sale of Membership Interests [Text Block]
NOTE
3
— NORTHLEAF TRANSACTIONS AND BUSINESS AQUISITION
 
Northleaf transactions
 
On
April
30,
2015,
Ormat Nevada Inc. (“Ormat Nevada”), a wholly-owned subsidiary of the Company, closed the sale of approximately
36.75%
of the aggregate membership interests in ORPD LLC (“ORPD”), a new holding company and subsidiary of Ormat Nevada, that indirectly owns the Puna geothermal power plant in Hawaii, the Don A. Campbell geothermal power plant in Nevada, and
nine
power plant units across
three
recovered energy generation assets known as OREG
1,
OREG
2
and OREG
3
to Northleaf Geothermal Holdings, LLC for
$162.3
million. The net proceeds to the Company were
$156.8
million after payment of
$5.5
million of transaction costs. The sale was made under the Agreement for Purchase of Membership Interests dated
February
5,
2015.
This transaction closed on
April
30,
2015
and resulted in a taxable gain in the U.S. of approximately
$102.1
million, for which the Company utilized a portion of its Net Operating Loss (“NOL”) and tax credit carryforwards to fully offset the tax impact of the gain.
 
Following the transaction, the Company maintains control of ORPD and continues to consolidate the entity with non-controlling interest being recorded. Consequently, the Company recorded the net proceeds from the issuance of membership interests as an increase to additional paid-in capital of
$71.3
million and non- controlling interests of
$85.5
million. See Note
19
for tax details.
 
On
November
23
,
2016,
Ormat Nevada, closed a follow-on sale of
36.75%
equity interest in the
second
phase of the Don A. Campbell power plant for proceeds of approximately
$44.2
million. The Don A. Campbell commenced operations in
September
2015
and sells its electricity to SCPPA under a
20
year PPA. Following the closing, the power plant was contributed to the existing ORPD, as agreed upon under the ORPD agreement with Northleaf Geothermal Holdings, LLC that was executed on
April
30,
2015.
The net proceeds to the Company were
$44.1
million after payment of
$0.1
million of transaction costs and resulted in a taxable gain in the U.S. of approximately
$21.4
million, for which the Company utilized a portion of its Net Operating Loss (“NOL”) and tax credit carryforwards to fully offset the tax impact of the gain.
 
Following the transaction, the Company continue to maintain control of ORPD and consolidate the entity with additional noncontrolling interest being recorded. Consequently, the Company recorded the net proceeds from the issuance of membership interests as an increase to additional paid-in capital of
$7.8
million and non- controlling interests of
$36.3
million. See Note
19
for tax details.
 
 
Guadeloupe power plant transaction
 
In
July
2016,
we announced that we closed the previously announced acquisition of Geothermie Bouillante SA (“GB”). GB owns and operates the
14.75
MW Bouillante geothermal power plant located in Guadeloupe Island, a French territory in the Caribbean, which currently generates approximately
13
MW. GB also owns
two
exploration licenses providing an expansion potential of up to
45
MW of capacity.
 
Pursuant to the terms of an Amended and Restated Investment Agreement (“Investment Agreement”) and Shareholders Agreement with Sageos Holding (“Sageos”), a wholly owned subsidiary of Bureau de Recherches Géologiques et Minières (“BRGM”), the Company together with Caisse des Dépôts et Consignations (“CDC”), a
 French state-owned financial organization, acquired an approximately
80%
interest in GB, allocated
75%
to the Company and
25%
to CDC. The Company and CDC will gradually increase their combined interest in GB to
85%
and Sageos will hold the remaining balance. As part of the agreement, CDC will pay the Company a premium.
 
Pursuant to the agreements, the Company paid approximately
$20.6
million to Sageos for its approximately
60%
interest in GB. In addition, the Company is committed to further invest
$8.4
million (approximately
€7.5
million) in the next
two
years, which will increase the Company
’s interest to
63.75%.
The cash will be used mainly for the enhancement of the power plant.
 
The Company has planned modifications to the existing equipment as well as to further develop the asset, with a potential of reaching a total of
45
MW in phased development by
2021.
Under the Investment Agreement, the Company will pay Sageos an additional amount of up to
$13.4
million (approximately
€12
million) subject to the achievement of agreed production thresholds and capacity expansion within a defined time period.
 
The Bouillante power plant sells its electricity under a
 
15
-year PPA that was entered into in
February
2016
with Électricité de France S.A. (“EDF”), the French electric utility. The Company plans to optimize the use of the resource at the existing facilities and recover its current production to its design capacity of
14.75
MW by mid-
2017.
 
The Company accounted for the transaction based on the provision of Accounting Standard Codification
805,
Business Combinations, and consequently recorded intangible asset of
$33.0
million pertaining to the
15
-year PPA with EDF and
$7.1
million of goodwill. Additionally, following the transaction, the Company gained control over GB effective
July
5,
2016
and consolidated the entity with redeemable noncontrolling interest of
$5.0
million and noncontrolling interest of
$8.3
million being recorded. The redeemable noncontrolling interest pertains to Sageos right to sell its equity interest in GB to the Company for cash considerations. The noncontrolling interest pertains to CDC and was included under noncontrolling interest in the consolidated statements of equity.
 
The revenues of GB of approximately
$8.1
million were included in the Company
’s consolidated statements of operations and comprehensive income for year ended
December
31,
2016.
 
Viridity Transaction
 
On
December
29,
2016
the Company entered into a definitive agreement to acquire substantially all of the business and assets of Viridity Energy, Inc. (“Viridity”), a privately held Philadelphia-based company engaged in demand response, energy management and storage of energy. The acquisition is expected to close early
2017.
Initial consideration for the acquisition is
$35
million, which will be paid at closing and is subject to adjustment in certain cases. Additional contingent consideration will be payable in
two
installments upon the achievement of certain performance milestones measured at the end of fiscal years
2017
and
2020.
Using proprietary software and solutions, Viridity serves primarily retail energy providers, utilities, and large industrial and commercial clients. Viridity
’s offerings enable its clients to optimize and monetize their energy management, demand response and storage facilities potential by interacting on their behalf with regional transmission organizations and independent system operators. Founded in
2008,
Viridity has under contract over
850
MW across
3,000
sites, including management of a portfolio of non-utility storage assets located in the northeastern US with over
80,000
operational market hours.
v3.6.0.2
Note 4 - Inventories
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Inventory Disclosure [Text Block]
NOTE
4
— INVENTORIES
 
Inventories consist of the following:
 
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Raw materials and purchased parts for assembly
   $
5,429
     $
8,819
  
Self-manufactured assembly parts and finished products
    
6,571
      
9,255
  
Total
   $
12,000
     $
18,074
  
v3.6.0.2
Note 5 - Cost and Estimated Earnings on Uncompleted Contracts
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Long-term Contracts or Programs Disclosure [Text Block]
NOTE
5
— COST AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS
 
Cost and estimated earnings on uncompleted contracts consist of the following:
 
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Costs and estimated earnings incurred on uncompleted contracts
   $
402,357
     $
279,176
  
Less billings to date
    
(381,789
 )    
(287,948
 )
Total
   $
20,568
     $
(8,772
 )
 
These amounts are included in the consolidated balance sheets under the following captions:
 
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Costs and estimated earnings in excess of billings on uncompleted contracts
   $
52,198
     $
25,120
  
Billings in excess of costs and estimated earnings on uncompleted contracts
    
(31,630
 )    
(33,892
 )
Total
   $
20,568
     $
(8,772
 )
 
The completion costs of the Company
’s construction contracts are subject to estimation. Due to uncertainties inherent in the estimation process, it is reasonably possible that estimated contract earnings will be further revised in the near term.
v3.6.0.2
Note 6 - Accumulated Loss of Unconsolidated Company in Excess of Investment
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Equity Method Investments and Joint Ventures Disclosure [Text Block]
NOTE
6
—
Accumulated loss of unconsolidated company in excess of investment
 
Accumulated loss of unconsolidated company in excess of investment
mainly consist of the following:
 
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Sarulla
   $
(11,081
 )   $
(8,100
 )
 
The Sarulla Project
 
The Company holds a
12.75%
equity interest in a consortium which is in the process of developing the Sarulla geothermal power project in Indonesia with an expected generating capacity of approximately
330
megawatts (“MW”). The Sarulla project is located in Tapanuli Utara, North Sumatra, Indonesia and will be owned and operated by the consortium members under the framework of a Joint Operating Contract (“JOC”) and Energy Sales Contract (“ESC”) that were signed on
April
4,
2013.
Under the JOC, PT Pertamina Geothermal Energy (“PGE”), the concession holder for the project, has provided the consortium with the right to use the geothermal field, and under the ESC, PT PLN, the state electric utility, will be the off-taker at Sarulla for a period of
30
years. In addition to its equity holdings in the consortium, the Company designed the Sarulla plant and will supply its Ormat Energy Converters (“OECs”) to the power plant, as further described below.
 
 
The project is being constructed in
three
phases of a total
321
MW, utilizing both steam and brine extracted from the geothermal field to increase the power plant
’s efficiency. The
first
phase with
110
MW capacity is currently under testing and expected to commence operation in
March
2017.
For the
second
phase power plant, engineering and procurement has been substantially completed, site construction is in progress and all of the major generating units including those to be supplied by Ormat were delivered. For the
third
phase, engineering, procurement and construction work at the site are in progress and manufacturing of equipment to be supplied by Ormat is underway as planned. Drilling for the
second
and
third
phases is still ongoing and the project has achieved to date, based on preliminary estimates, approximately
80%
of the required production capacity and over
85%
of the required injection capacity. The project has missed a few milestones defined under the loan documents, but has received waivers from the lenders and as of now the project is in compliance with lenders requirements. The project is still experiencing delays in the field development and cost overruns resulting from delays and excess drilling costs. Due to the cost overrun in drilling, the lenders have requested from the sponsors to commit for additional equity. The sponsors have agreed and financing documents were revised to reflect this request. With respect to Ormat’s role as a supplier, all contractual milestones under the supply agreement were achieved.
 
On
May
16,
2014,
the consortium closed
$1.17
billion in financing for the development of the Sarulla project with a consortium of lenders comprised of Japan Bank for International Cooperation (“JBIC”), the Asian Development Bank and
six
commercial banks and obtained construction and term loans on a limited recourse basis backed by a political risk guarantee from JBIC. Of the
$1.17
billion,
$0.1
billion (which was drawn down by the Sarulla project company on
May
23,
2014)
bears a fixed interest rate and
$1.07
billion bears interest at a rate linked to LIBOR.
 
The Sarulla consortium entered into interest rate swap agreements with various international banks in order to fix the Libor interest rate on up to
$0.96
billion of the
$1.07
billion credit facility at a rate of
3.4565%.
The interest rate swap became effective as of
June
4,
2014
along with the
second
draw-down by the project company of
$50.0
million.
 
The Sarulla project company accounted for the interest rate swap as a cash flow hedge upon which changes in the fair value of the hedging instrument, relative to the effective portion, will be recorded in other comprehensive income. As such, during the year ended
December
31,
2016
and
2015,
the project recorded a gain of
$9.3
million and $
8.0
million, respectively, net of deferred tax, of which the Company's share was
$1.2
million and
$1.0
million, respectively, which was recorded in other comprehensive income. The related accumulated loss recorded by the Company in other comprehensive income (loss) as of
December
31,
2016
is
$5.9
million.
 
Pursuant to a supply agreement that was signed in
October
2013,
the Company is supplying its OECs to the power plant and has added the
$255.6
million supply contract to its Product Segment backlog. The Company started to recognize revenue from the project during the
third
quarter of
2014
and will continue to recognize revenue over the course
of next year. The Company has eliminated the related intercompany profit of
$12.0
million against equity in loss of investees.
 
During the year ended
December
31,
2016,
the Company made an additional
cash equity investment contribution to the Sarulla project in the amount of
$3.6
million.
v3.6.0.2
Note 7 - Variable Interest Entities
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Disclosure Of Variable Interest Entities [Text Block]
NOTE
7
— VARIABLE INTEREST ENTITIES
 
The Company
’s overall methodology for evaluating transactions and relationships under the variable interest entity (“VIE”) accounting and disclosure requirements includes the following
two
steps: (i) determining whether the entity meets the criteria to qualify as a VIE; and (ii) determining whether the Company is the primary beneficiary of the VIE.
 
In performing the
first
step, the significant factors and judgments that the Company considers in making the determination as to whether an entity is a VIE include
:
 
 
•
The design of the entity, including the nature of its risks and the purpose for which the entity was created, to determine the variability that the entity was designed to create and distribute to its interest holders
;
 
 
•
The nature of the Company
’s involvement with the entity;
 
 
•
Whether control of the entity
may
be achieved through arrangements that do not involve voting equity
;
 
 
•
Whether there is sufficient equity investment at risk to finance the activities of the entity; and
 
 
•
Whether parties other than the equity holders have the obligation to absorb expected losses or the right to receive residual returns
.
 
If the Company identifies a VIE based on the above considerations, it then performs the
second
step and evaluates whether it is the primary beneficiary of the VIE by considering the following significant factors and judgments
:
 
 
•
Whether the Company has the power to direct the activities of the VIE that most significantly impact the entity
’s economic performance; and
 
 
•
Whether the Company has the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE
.
 
The Company
’s VIEs include certain of its wholly owned subsidiaries that own
one
or more power plants with long-term PPAs. In most cases, the PPAs require the utility to purchase substantially all of the plant’s electrical output over a significant portion of its estimated useful life. Most of the VIEs have associated project financing debt that is non-recourse to the general creditors of the Company, is collateralized by substantially all of the assets of the VIE and those of its wholly owned subsidiaries (also VIEs) and is fully and unconditionally guaranteed by such subsidiaries. The Company has concluded that such entities are VIEs primarily because the entities do not have sufficient equity at risk and/or subordinated financial support is provided through the long-term PPAs. The Company has evaluated each of its VIEs to determine the primary beneficiary by considering the party that has the power to direct the most significant activities of the entity. Such activities include, among others, construction of the power plant, operations and maintenance, dispatch of electricity, financing and strategy. Except for power plants that it acquired, the Company is responsible for the construction of its power plants and generally provides operation and maintenance services. Primarily due to its involvement in these and other activities, the Company has concluded that it directs the most significant activities at each of its VIEs and, therefore, is considered the primary beneficiary. The Company performs an ongoing reassessment of the VIEs to determine the primary beneficiary and
may
be required to deconsolidate certain of its VIEs in the future. The Company has aggregated its consolidated VIEs into the following categories: (i) wholly owned subsidiaries with project debt; and (ii) wholly owned subsidiaries with PPAs.
 
The tables below detail the assets and liabilities (excluding intercompany balances which are eliminated in consolidation) for the Company
’s VIEs, combined by VIE classifications, that were included in the consolidated balance sheets as of
December
31,
2016
and
2015:
 
   
December 31, 2016
  
   
Project Debt
    
PPAs
  
   
(Dollars in thousands)
  
Assets:
                
Restricted cash and cash equivalents
   $
34,262
     $
—
  
Other current assets
    
157,351
      
7,482
  
Property, plant and equipment, net
    
1,305,254
      
177,970
  
Construction-in-process
    
48,128
      
72,725
  
Other long-term assets
    
24,802
      
—
  
Total assets
   $
1,569,797
     $
258,177
  
                 
Liabilities:
                
Accounts payable and accrued expenses
   $
10,900
     $
3,992
  
Long-term debt
    
668,815
      
—
  
Other long-term liabilities
    
126,879
      
5,779
  
Total liabilities
   $
806,594
     $
9,771
  
 
 
   
December 31, 2015
  
   
Project Debt
    
PPAs
    
   
(Dollars in thousands)
  
Assets:
                  
Restricted cash, cash equivalents and marketable securities
   $
49,503
     $
—
    
Other current assets
    
114,500
      
4,044
    
Property, plant and equipment, net
    
1,310,027
      
171,231
    
Construction-in-process
    
127,825
      
1,340
    
Other long-term assets
    
44,279
      
(1
 )  
Total assets
   $
1,646,134
     $
176,614
    
                   
Liabilities:
                  
Accounts payable and accrued expenses
   $
11,404
     $
2,931
    
Long-term debt
    
648,028
      
—
    
Other long-term liabilities
    
78,843
      
5,358
    
Total liabilities
   $
738,275
     $
8,289
    
v3.6.0.2
Note 8 - Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
NOTE
8
— FAIR VALUE OF FINANCIAL INSTRUMENTS
 
The fair value measurement guidance clarifies that fair value is an exit price, representing the amount that would be received upon selling an asset or paid upon transferring a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level
1
measurements) and the lowest priority to unobservable inputs (Level
3
measurements). The
three
levels of the fair value hierarchy under the fair value measurement guidance are described below
:
 
Level
1
— Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities;
 
Level
2
— Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability;
 
Level
3
— Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
 
The following table sets forth certain fair value information at
December
31,
2016
and
2015
for
financial assets and liabilities measured at fair value by level within the fair value hierarchy, as well as cost or amortized cost. As required by the fair value measurement guidance, assets and liabilities are classified in their entirety based on the lowest level of inputs that is significant to the fair value measurement.
 
   
 
 
 
  
December 31, 2016
  
   
 
 
 
  
Fair Value
  
   
Carrying
Value at
December
31, 2016
    
Total
    
Level 1
    
Level 2
    
Level 3
  
   
(Dollars in thousands)
  
Assets:
                                        
Current assets:
                                        
Cash equivalents (including restricted cash accounts)
   $
14,922
     $
14,922
     $
14,922
     $
—
     $
—
  
Derivatives:
                                        
Contingent receivable (1)
    
1,443
      
1,443
      
—
      
—
      
1,443
  
Liabilities:
                                        
Current liabilities:
                                        
Derivatives:
                                        
Contingent payables (1)
    
(11,581
 )    
(11,581
 )    
—
      
—
      
(11,581
 )
Warrants (1)
    
(3,429
 )    
(3,429
 )    
 
      
 
      
(3,429
 )
Currency forward contracts
(2)
    
(481
 )    
(481
 )    
—
      
(481
 )    
—
  
    $
874
     $
874
     $
14,922
     $
(481
 )   $
(13,567
 )
 
   
 
 
 
  
December 31, 2015
  
   
 
 
 
  
Fair Value
  
   
Carrying
Value at
December
31, 2015
    
Total
    
Level 1
    
Level 2
    
Level 3
  
   
(Dollars in thousands)
  
Assets
                                        
Current assets:
                                        
Cash equivalents (including restricted cash accounts)
   $
31,428
     $
31,428
     $
31,428
     $
—
     $
—
  
Derivatives:
                                        
Currency forward contracts
(2)
    
7
      
7
      
—
      
7
      
—
  
Liabilities:
                                        
Current liabilities:
                                        
Derivatives:
                                        
Currency forward contracts
(2)
    
(169
 )    
(169
 )    
—
      
(169
 )    
—
  
    $
31,266
     $
31,266
     $
31,428
     $
(162
 )   $
—
  
 
(1)
  
These amounts relate to contingent receivables and payables pertaining to the Guadeloupe power plant purchase transaction, valued primarily based on unobservable inputs and are included within "Prepaid expenses and other" and "Other long-term liabilities" on
December
31,
2016
in the consolidated balance sheets with the corresponding gain or loss being recognized within "Derivatives and foreign currency transaction gains (losses)" in the consolidated statement of operations and comprehensive income.
(2)
     
These amounts relate to derivatives which represent currency forward contracts valued primarily based on observable inputs, including forward and spot prices for currencies, netted against contracted rates and then multiplied against notional amounts, and are included within “prepaid expenses and other” and “accounts payable and accrued expenses” on
December
31,
2016
and
December
31,
2015,
in the consolidated balance sheet with the corresponding gain or loss being recognized within “Derivatives and foreign currency transaction gains (losses)” in the consolidated statement of operations and comprehensive income.
 
The amounts set forth in the tables above include investments in debt instruments and money mark
et funds (which are included in cash equivalents). Those securities and deposits are classified within Level
1
of the fair value hierarchy because they are valued using quoted market prices in an active market.
 
The following table presents the amounts of gain (loss) recognized in the consolidated statements of operations and comprehensive income (loss) on derivative instruments not designated as hedges:
 
       
Amount of recognized gain (loss)
  
Derivatives not designated as hedging
instruments
  
Location of recognized gain
(loss)
  
2016
    
2015
    
2014
  
       
(Dollars in thousands)
  
                             
Call options on natural gas price
  
Derivatives and foreign currency transaction gain (losses)
   $
(1,340
 )   $
—
     $
—
  
Call and put options on oil price
  
Derivatives and foreign currency transaction gain (losses)
    
(1,313
 )    
—
      
—
  
Swap transaction on oil price
  
Electricity revenues
    
—
      
—
      
2,728
  
Swap transactions on natural gas price
  
Electricity revenues
    
—
      
1,158
      
2,996
  
Contingent considerations
  
Derivatives and foreign currency transaction gain (losses)
    
(1,527
 )    
—
      
—
  
Currency forward contracts
  
Derivatives and foreign currency transaction gain (losses)
    
238
      
(1,206
 )    
(4,949
 )
   
 
   $
(3,942
 )   $
(48
 )   $
775
  
 
On
September
3,
2013,
the Company entered into a Natural Gas Index (“NGI”) swap contract with a bank covering a notional quantity of approximately
4.4
million British Thermal Units (“MMbtu”) for settlement effective
January
1,
2014
until
December
31,
2014,
in order to reduce its exposure to fluctuations in natural gas prices under its Power Purchase Agreements (“PPAs”) with Southern California Edison to below
$4.035
per MMbtu. The contract did not have up-front costs. Under the terms of this contract, the Company made floating rate payments to the bank and received fixed rate payments from the bank on each settlement date. The swap contract had a monthly settlement whereby the difference between the fixed price of
$4.035
per MMbtu and the market price on the
first
commodity business day on which the relevant commodity reference price is published in the relevant calculation period
(January
1,
2014
to
December
1,
2014)
was settled on a cash basis.
 
On
October
16,
2013,
the Company entered into an NGI swap contract with a bank covering a notional quantity of approximately
4.2
million MMbtu for settlement effective
January
1,
2014
until
December
31,
2014,
in order to reduce its exposure to fluctuations in natural gas prices under its PPAs with Southern California Edison to below
$4.103
per MMbtu. The contract did not have any up-front costs. Under the terms of this contract, the Company made floating rate payments to the bank and received fixed rate payments from the bank on each settlement date. The swap contract had a monthly settlement whereby the difference between the fixed price of
$4.103
per MMbtu and the market price on the
first
commodity business day on which the relevant commodity reference price is published in the relevant calculation period
(January
1,
2014
to
December
1,
2014)
was settled on a cash basis.
 
On
October
16,
2013,
the Company entered into a New York Harbor Ultra-Low Sulfur Diesel swap contract with a bank covering a notional quantity of
275,000
BBL effective from
January
1,
2014
until
December
31,
2014
to reduce the Company’s exposure to fluctuations in the energy rate caused by fluctuations in oil prices under the
25
MW PPA for the Puna complex. The Company entered into this contract because the swap had a high correlation with the avoided costs (which are incremental costs that the power purchaser avoids by not having to generate such electrical energy itself or purchase it from others) that Hawaii Electric Light Company (“HELCO”) uses to calculate the energy rate. The contract did not have any up-front costs. Under the term of this contract, the Company made floating rate payments to the bank and received fixed rate payments from the bank on each settlement date
($125.15
per BBL). The swap contract had a monthly settlement whereby the difference between the fixed price of
$125.15
per BBL and the monthly average market price was settled on a cash basis.
 
On
March
6,
2014,
and on
May
14,
2015,
the Company entered into NGI swap contracts with a bank covering a notional quantity of approximately
2.2
MMbtu for settlement effective
January
1,
2015
until
March
31,
2015,
and covering a notional quantity of approximately
2.4
MMbtu for settlement effective
June
1,
2015
until
December
31,
2015,
respectively, in order to reduce its exposure to fluctuations in natural gas prices under its PPAs with Southern California Edison to below
$4.95
per MMbtu and below
$3.00
per MMbtu, respectively. The contracts did not have any up-front costs. Under the terms of these contracts, the Company made, and will make, floating rate payments to the bank and received, and will receive, fixed rate payments from the bank on each settlement date. The swap contracts have monthly settlements whereby the difference between the fixed price and the market price on the
first
commodity business day on which the relevant commodity reference price is published in the relevant calculation period
(January
1,
2015
to
March
1,
2015
and
June
1,
2015
to
December
31,
2015)
are settled on a cash basis.
 
On
February
2,
2016,
the Company entered into Henry Hub Natural Gas Future contracts under which it
 has written a number of call options covering a notional quantity of approximately
4.1
MMbtu with exercise prices of
$2
and expiration dates ranging from
February
24,
2016
until
December
27,
2016
in order to reduce its exposure to fluctuations in natural gas prices under its PPAs with Southern California Edison. The Company received an aggregate premium of approximately
$1.9
million from these call options. The call option contracts have monthly expiration dates at which the options can be called and the Company would have to settle its liability on a cash basis.
 
On
February
24,
2016,
the Company entered into Brent Oil Future contracts under which it has written a number of call options covering a notional quantity of approximately
185,000
barrels (“BBL”) of Brent with exercise prices of
$32.80
to
$35.50
and expiration dates ranging from
March
24,
2016
until
December
22,
2016
in order to reduce its exposure to fluctuations in Brent prices under its PPA with HELCO. The Company received an aggregate premium of approximately
$1.1
million from these call options. The call option contracts have monthly expiration dates whereby the options can be called and the Company would have to settle its liability on a cash basis. Moreover, during
March
2016,
the Company rolled
2
existing call options covering a total notional quantity of
31,800
BBL of Brent in order to limit its exposure to
$41
to
$42.50
instead of
$32.80
to
$33.50.
In addition, the Company entered into short risk reversal transactions (sell call and buy put options) by rolling existing call options covering notional quantities of
16,500
BBL and
17,000
BBL in order to limit its exposure from the outstanding call options originally entered into in
February
2016
to a range of
$28.50
to
$37.50
and
$28
to
$38.50,
respectively.
 
The foregoing future, forward and swap transactions have not been designated as hedge transactions and are marked to market with the corresponding gains or losses recognized within “Derivatives and foreign currency transaction gains (losses)” and “Electricity revenues” in the consolidated statements of operations and comprehensive income, respectively. The Company recognized a net
 loss from these transactions of
$2.4
million,
$1.2
million and
$4.9
million in the years ended
December
31,
2016,
2015
and
2014,
respectively, under Derivatives and foreign currency transaction gains (losses), and a net gain of
$1.2
million and
$5.7
million, in the years ended
December
31,
2015,
and
2014,
respectively, under Electricity revenues.
 
There were no transfers of assets or liabilities between Level
 
1,
Level
2
and Level 
3
during the year ended
December
 
31,
2016.
 
The fair value of the Company
’s long-term debt is as follows:
 
   
Fair Value
    
Carrying Amount
  
   
2016
   
2015
   
2016
   
2015
 
   
(Dollars in millions)
    
(Dollars in millions)
  
Olkaria III Loan - DEG
   $
16.3
     $
24.2
     $
15.8
     $
23.7
  
Olkaria III Loan - OPIC
    
253.4
      
262.6
      
246.6
      
264.6
  
Olkaria IV Loan - DEG 2
    
50.9
      
—
      
50.0
      
—
  
Amatitlan Loan
    
37.3
      
41.7
      
36.8
      
40.3
  
Senior Secured Notes:
                                
Ormat Funding Corp. ("OFC")
  
17.0
      
30.0
      
17.0
      
30.0
  
OrCal Geothermal Inc. ("OrCal")
    
37.4
      
43.8
      
35.2
      
43.3
  
OFC 2 LLC ("OFC 2")
    
249.0
      
231.1
      
247.2
      
262.0
  
Don A. Campbell 1 ("DAC1")
    
88.9
      
—
      
92.4
      
—
  
Senior Unsecured Bonds
    
200.1
      
264.5
      
204.3
      
250.0
  
Other long-term debt
    
10.4
      
6.7
      
11.2
      
6.7
  
 
The fair value of OFC Senior Secured Notes was determined using observable market prices as these securities are traded. The fair value of all the long-term debt is determined by a valuation model, which is based on a conventional discounted cash flow methodology and utilizes assumptions of current borrowing rates
.
The fair value of revolving lines of credit is determined using a comparison of market-based price sources that are reflective of similar credit ratings to those of the Company.
 
The carrying value of other financial instruments, such as revolving lines of credit and deposits approximates fair value.
 
The following table presents the fair value of financial instruments as of
December
 
31,
2016:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
   
(Dollars in millions)
  
Olkaria III - DEG
   $
—
     $
—
     $
16.3
     $
16.3
  
Olkaria III - OPIC
    
—
      
—
      
253.4
      
253.4
  
Olkaria IV - DEG 2
    
—
      
—
      
50.9
      
50.9
  
Amatitlan loan
    
—
      
37.3
      
—
      
37.3
  
Senior Secured Notes:
                                
OFC
    
—
      
17.0
      
—
      
17.0
  
OrCal
    
—
      
—
      
37.4
      
37.4
  
OFC 2
    
—
      
—
      
249.0
      
249.0
  
Don A. Campbell 1 ("DAC1")
    
—
      
—
      
88.9
      
88.9
  
Senior unsecured bonds
    
—
      
—
      
200.1
      
200.1
  
Other long-term debt
    
—
      
3.3
      
7.1
      
10.4
  
Deposits
    
14.4
      
—
      
—
      
14.4
  
 
The following table presents the fair value of financial instruments as of
December
 
31,
2015:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
   
(Dollars in millions)
  
Olkaria III Loan - DEG
   $
—
     $
—
     $
24.2
     $
24.2
  
Olkaria III Loan - OPIC
    
—
      
—
      
262.6
      
262.6
  
Amatitlan Loan
    
—
      
41.7
      
—
      
41.7
  
Senior Secured Notes:
                                
OFC
    
—
      
30.0
      
—
      
30.0
  
OrCal
    
—
      
—
      
43.8
      
43.8
  
OFC 2
    
—
      
—
      
231.1
      
231.1
  
Senior unsecured bonds
    
—
      
—
      
264.5
      
264.5
  
Other long-term debt
    
—
      
6.7
      
—
      
6.7
  
Deposits
    
15.9
      
—
      
—
      
15.9
  
v3.6.0.2
Note 9 - Property, Plant and Equipment and Construction-in-process
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
NOTE
9
— PROPERTY, PLANT AND EQUIPMENT AND CONSTRUCTION-IN-PROCESS
 
Property, plant and equipment
 
Property, plant and equipment, net, consist of the following:
 
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Land owned by the Company where the geothermal resource is located
   $
31,904
     $
31,465
  
Leasehold improvements
    
3,848
      
3,691
  
Machinery and equipment
    
152,821
      
133,457
  
Land, buildings and office equipment
    
28,634
      
29,247
  
Automobiles
    
11,161
      
7,782
  
Geothermal and recovered energy generation power plants, including geothermal wells and exploration and resource development costs:
                
United States of America, net of cash grants and impairment charges
    
1,658,195
      
1,637,081
  
Foreign countries
    
541,626
      
494,105
  
Asset retirement cost
    
8,669
      
7,961
  
     
2,436,858
      
2,344,789
  
                 
Less accumulated depreciation
    
(880,480
 )    
(785,454
 )
                 
Property, plant and equipment, net
   $
1,556,378
     $
1,559,335
  
 
 
Depreciation expense for the years ended
December
31,
2016,
2015,
and
2014
amounted to
$94.8
million,
$95.2
million and
$87.9
million, respectively. Depreciation expense for the years ended
December
31,
2016,
2015
and
2014
is net of the impact of the cash grant in the amount of
$5.5
million,
$5.5
million and
$5.3
million, respectively.
 
U.S. Operations
 
The net book value of the property, plant and equipment, including construction-in-process, located in the United States was approximately
$1,376.1
million and
$1,335.0
million as of
December
31,
2016
and
2015,
respectively. These amounts as of
December
31,
2016
and
2015
are net of cash grants in the amount of
$138.7
million and
$144.2
million, respectively.
 
 
Foreign Operations
 
The net book value of property, plant and equipment, including construction-in-process, located outside of the United States was approximately
$487.0
million and
$473.1
million as of
December
31,
2016
and
2015,
respectively.
 
The Company, through its wholly owned subsidiary, OrPower
4,
Inc. (“OrPower
4”)
owns and operates geothermal power plants in Kenya. The net book value of assets associated with the power plants was
$315.0
 million and
$355.8
million as of
December
31,
2016
and
2015,
respectively. The Company sells the electricity produced by the power plants to Kenya Power and Lighting Co. Ltd. (“KPLC”) under a
20
-year PPA.
 
The Company, through its wholly owned subsidiary, Orzunil I de Electricidad, Limitada (“Orzunil”), owns a power plant in Guatemala. On
January
22,
2014,
Orzunil signed an amendment to the PPA with Instituto Nacional de Electrificacion (“INDE”) a Guatemalan power utility for its Zunil geothermal power plant in Guatemala. The amendment extends the term of the PPA from
2019
to
2034.
The PPA amendment also transfers operation and management responsibilities of the Zunil geothermal field from INDE to the Company for the term of the amended PPA in exchange for a tariff increase. Additionally, INDE exercised its right under the PPA to become a partner in the Zunil power plant with
a
3%
equity interest. The net book value of the assets related to the power plant was
$12.2
million and
$19.2
million at
December
31,
2016
and
2015,
respectively.
 
The Company, through its wholly owned subsidiary, Ortitlan, Limitada (“Ortitlan”), owns a power plant in Guatemala. The net book value of the assets related to the power plant was
$40.3
million and
$46.0
million at
December
31,
2016
and
2015,
respectively.
 
 
Construction-in-process
 
Construction-in-process consists of the following:
 
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Projects under exploration and development:
                
Up-front bonus lease costs
   $
17,385
     $
26,491
  
Exploration and development costs
    
36,359
      
35,726
  
Interest capitalized
    
703
      
703
  
     
54,447
      
62,920
  
Projects under construction:
                
Up-front bonus lease costs
    
37,713
      
27,473
  
Drilling and construction costs
    
202,211
      
150,467
  
Interest capitalized
    
12,338
      
7,975
  
     
252,262
      
185,915
  
Total
   $
306,709
     $
248,835
  
 
 
 
   
Projects under Exploration and Development
  
   
Up-front
Bonus Lease
Costs
    
Exploration
and
Development
Costs
    
Interest
Capitalized
    
Total
  
   
(Dollars in thousands)
  
Balance at December 31, 2013
   $
30,141
     $
38,220
     $
1,278
     $
69,639
  
Cost incurred during the year
    
—
      
19,231
      
—
      
19,231
  
Write off of unsuccessful exploration costs
    
(3,523
 )    
(11,474
 )    
(442
 )    
(15,439
 )
Balance at December 31, 2014
    
26,618
      
45,977
      
836
      
73,431
  
Cost incurred during the year
    
37
      
10,104
      
869
      
11,010
  
Write off of unsuccessful exploration costs
    
(164
 )    
(1,415
 )    
—
      
(1,579
 )
Transfer of projects under exploration and development to projects under construction
    
—
      
(18,940
 )    
(1,002
 )    
(19,942
 )
Balance at December 31, 2015
    
26,491
      
35,726
      
703
      
62,920
  
Cost incurred during the year
    
1,514
      
25,165
      
—
      
26,679
  
Write off of unsuccessful exploration costs
    
(380
 )    
(2,637
 )    
—
      
(3,017
 )
Transfer of projects under exploration and development to projects under construction
    
(10,240
 )    
(21,895
 )    
—
      
(32,135
 )
                                 
Balance at December 31, 2016
   $
17,385
     $
36,359
     $
703
     $
54,447
  
 
   
Projects under Construction
  
   
Up-front
Bonus Lease
Costs
    
Drilling and
Construction
Costs
    
Interest
Capitalized
    
Total
  
   
(Dollars in thousands)
  
Balance at December 31, 2013
   $
27,473
     $
184,766
     $
6,948
     $
219,187
  
Cost incurred during the year
    
—
      
132,597
      
3,206
      
135,803
  
Transfer of completed projects to property, plant and equipment
    
—
      
(105,126
 )    
(970
 )    
(106,096
 )
Sale of property, plant and equipment
    
—
      
(24,692
 )    
(911
 )    
(25,603
 )
                                 
Balance at December 31, 2014
    
27,473
      
187,545
      
8,273
      
223,291
  
                                 
Cost incurred during the year
    
—
      
140,977
      
3,556
      
144,533
  
Transfer of exploration and development projects to projects under construction
    
—
      
18,940
      
1,002
      
19,942
  
Transfer of completed projects to property, plant and equipment
    
—
      
(196,995
 )    
(4,856
 )    
(201,851
 )
Sale of property, plant and equipment
    
—
      
—
      
—
      
—
  
Balance at December 31, 2015
    
27,473
      
150,467
      
7,975
      
185,915
  
Cost incurred during the year
    
—
      
116,247
      
6,510
      
122,757
  
Transfer of exploration and development projects to projects under construction
    
10,240
      
21,895
      
—
      
32,135
  
Transafer of completed projects to property, plant and equipment
    
—
      
(86,398
 )    
(2,147
 )    
(88,545
 )
Balance at December 31, 2016
   $
37,713
     $
202,211
     $
12,338
     $
252,262
  
v3.6.0.2
Note 10 - Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]
NOTE
10
— INTANGIBLE ASSETS AND GOODWILL
 
Intangible assets
amounting to
$52.8
million and
$25.9
million consist mainly of the Company’s power purchase agreements (“PPAs”)
acquired in business combinations, net of accumulated amortization of
$42.8
million and
$38.4
million as of
December
31,
2016
and
2015,
respectively. Amortization expense for the years ended
December
31,
2016,
2015,
and
2014
amounted to
$4.4
million,
$3.3
million, and
$3.3
million, respectively. Additions of intangible assets for the years ended
December
31,
2016,
2015
and
2014,
amounted to
$33.0
million,
$0.5
million and
$0,
respectively. The addition to intangible assets in
2016
relates to the purchase of the Guadeloupe plant (Note
3).
There were
no
disposals of intangible assets in
2016,
2015
and
2014.
 
Estimated future amortization expense for the intangible assets as of
December
31,
2016
is as follows:
 
   
(Dollars in thousands)
  
Year ending December 31:
  
 
 
 
2017
   $
5,042
  
2018
    
4,912
  
2019
    
4,839
  
2020
    
4,522
  
2021
    
4,522
  
Thereafter
    
28,916
  
         
Total
   $
52,753
  
 
Goodwill
 
Goodwill amounting to
$7.1
million was recorded as a result of the Guadeloupe power plant purchase transaction that was closed in
July
2016
(see Note
3
for more details).
During
2016,
there were
no
additions or adjustments to the carrying value of goodwill except for the impact of currency translation adjustments. The carrying value of goodwill as of
December
31,
2016
is
$6.7
million.
v3.6.0.2
Note 11 - Accounts Payable and Accrued Expenses
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]
NOTE
 
11
 — ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable and accrued expenses consist of the following:
 
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Trade payables
   $
48,309
     $
41,364
  
Salaries and other payroll costs
    
17,977
      
14,671
  
Customer advances
    
576
      
2,533
  
Accrued interest
    
3,524
      
8,252
  
Income tax payable
    
8,824
      
11,353
  
Property tax payable
    
1,884
      
3,609
  
Scheduling and transmission
    
964
      
1,547
  
Royalty accrual
    
1,639
      
1,818
  
Other
    
7,953
      
6,808
  
Total
   $
91,650
     $
91,955
  
v3.6.0.2
Note 12 - Long-term Debt and Credit Agreements
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Long-term Debt [Text Block]
NOTE
 
12
 — LONG-TERM DEBT AND CREDIT AGREEMENTS
 
Long-term debt consists of notes payable under the following agreements:
 
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Limited and non-recourse agreements:
                
Loans:
                
Non-recourse:
                
Other loans
   $
6,368
     $
-
  
Limited recourse:
                
Loan agreement with OPIC (the Olkaria III power plant)
    
246,630
      
264,624
  
Loan agreement with Banco Industrial S.A. and Westrust Bank (International) Limited
    
36,750
      
40,250
  
Senior Secured Notes:
                
Non-recourse:
                
Ormat Funding Corp. ("OFC")
    
17,026
      
29,968
  
OrCal Geothermal Inc. ("OrCal")
    
35,181
      
43,332
  
Don A. Campbell 1 ("DAC1")
    
92,361
      
 
  
Limited recourse:
                
OFC 2 LLC ("OFC 2")
    
247,232
      
261,959
  
     
681,548
      
640,133
  
Less current portion
    
(53,729
 )    
(51,425
 )
Non current portion
   $
627,819
     $
588,708
  
Full recourse agreements:
                
Senior unsecured bonds
   $
204,332
     $
249,981
  
Loans from institutional investors
    
3,333
      
6,667
  
Loan agreements with DEG (the Olkaria III and IV power plants)
    
65,789
      
23,684
  
Loan from a commercial bank
    
1,529
      
-
  
Revolving credit lines with banks
    
-
      
-
  
     
274,983
      
280,332
  
Less current portion
    
(12,242
 )    
(11,229
 )
Non current portion
   $
262,741
     $
269,103
  
 
 
Loan Agreement
with
Banco Industrial S.A. and Westrust Bank (International) Limited
 
On
July
31,
2015,
one
of our indirect wholly-owned subsidiaries, Ortitlản, Limitada, obtained a
12
-year secured term loan in the principal amount of
$42.0
million for the
20
MW Amatitlan power plant in Guatemala. Under the credit agreement with Banco Industrial S.A. and Westrust Bank (International) Limited, we can expand the Amatitlan power plant with financing to be provided either via equity, additional debt from Banco Industrial S.A. or from other lenders, subject to certain limitations on expansion financing in the credit agreement.
 
The loan is payable in
48
quarterly payments commencing
September
30,
2015.
The loan bears interest at a rate
per annum
equal to of the sum of the LIBO Rate (which cannot be lower than
1.25%)
plus a margin of (i)
4.35%
as long as the Company’s guaranty of the loan (as described below) is outstanding or (ii)
4.75%
otherwise. Interest is payable quarterly, on
March
30,
June
30,
September
30
and
December
30
of each year, on the stated maturity date of the loan and on any prepayment or payment of the loan. The loan must be prepaid on the occurrence of certain events, such as casualty, condemnation, asset sales and expansion financing not provided by the lenders under the credit agreement, among others. The loan
may
be voluntarily prepaid if certain conditions are satisfied, including payment of a premium (ranging from
100
-
50
basis points) if prepayment occurs prior to the
eighth
anniversary of the loan.
 
There are various restrictive covenants under the Amatitlan credit agreement. These include, among others, (i) a financial covenant to maintain a Debt Service Coverage Ratio (as defined in the credit agreement) of not less than
1.15
to
1.00
as of the last day of any fiscal quarter and (ii) limitations on Restricted Payments (as defined in the credit agreement) that among other things would limit dividends that could be paid to us unless the historical and projected Debt Service Coverage Ratio is not less than
1.25
to
1.00
for the
four
fiscal quarterly periods (calculated as a single accounting period).
As of
December
31,
2016,
the actual historical and projected
12
-month Debt Service Coverage Ratio was
1.87
and
1.92,
respectively. The credit agreement includes various events of default that would permit acceleration of the loan (subject in some cases to grace and cure periods). These include, among others, a Change of Control (as defined in the credit agreement) and failure to maintain certain required balances in debt service and maintenance reserve accounts. The credit agreement includes certain equity cure rights for failure to maintain the Debt Service Coverage Ratio and the minimum amounts required in the debt service and maintenance reserve accounts.
 
The loan is secured by substantially all the assets of the borrower and a pledge of all of the membership interests of the borrower.
 
The Company has guaranteed payment of all obligations under the credit agreement and related financing documents. The guaranty is limited in the sense that the Company is only required to pay the guaranteed obligations if a “trigger event” occurs. A trigger event is the occurrence and continuation of a default by Instituto Nacional de Electricidad (“INDE”) in its payment obligations under the power purchase agreement for the Amatitlàn power plant or a refusal by INDE to receive capacity and energy sold under that power purchase agreement. Our obligations under the guaranty
may
be terminated prior to payment in full of the guaranteed obligations under certain circumstances described in the guaranty. If our guaranty is terminated early, the interest rate payable on the loan would increase as described above.
 
As of
December
31,
2016,
$36.8
million of this loan is outstanding.
 
 
Finance Agreement with OPIC (the Olkaria III Complex)
 
On
August
 
23,
2012,
the Company’s wholly owned subsidiary, OrPower
4
entered into a Finance Agreement with Overseas Private Investment Corporation (“OPIC”), an agency of the United States government, to provide limited-recourse senior secured debt financing in an aggregate principal amount of up to
$310.0
million (the “OPIC Loan”) for the refinancing and financing of the Olkaria III geothermal power complex in Kenya. The Finance Agreement was amended on
November
9,
2012.
 
The OPIC Loan is comprised of up to
three
tranches:
 
 
•
Tranche I in an aggregate principal amount of
$85.0
million, which was drawn in
November
2012,
was used to prepay approximately
$20.5
million (plus associated prepayment penalty and breakage costs of
$1.5
million) of the DEG Loan, as described below. The remainder of Tranche I proceeds was used for reimbursement of prior capital costs and other corporate purposes.
 
 
•
Tranche II in an aggregate principal amount of
$180.0
million
was used to fund the construction and well field drilling for the expansion of the Olkaria III geothermal power complex (“Plant
2”).
In
November
2012,
an amount of
$135.0
million was disbursed under this Tranche II, and in
February
2013,
the remaining
$45.0
million was distributed under this Tranche II.
 
 
•
Tranche III in an aggregate principal amount of
$45.0
million
was used to fund the construction of Plant
3
of the Olkaria III complex. In
November
2013,
an amount of
$45.0
million was disbursed under this Tranche.
 
I
n
July
2013,
we completed the conversion of the interest rate applicable to both Tranche I and Tranche II from a floating interest rate to a fixed interest rate. The average fixed interest rate for Tranche I, which has an outstanding balance as of
December
31,
2016
of
$66.0
million and matures on
December
15,
2030,
and Tranche II, which has an outstanding balance as of
December
31,
2016
of
$142.9
million and matures on
June
15,
2030,
is
6.31%.
In
November
2013,
we fixed the interest rate for Tranche III. The fixed interest rate for Tranche III, which has an outstanding balance as of
December
31,
2016
of
$37.6
million and matures on
December
15,
2030,
is
6.12%.
 
OrPower
4
has a right to make voluntary prepayments of all or a portion of the OPIC Loan subject to prior notice, minimum prepayment amounts,
and a prepayment premium of
2.0%
in the
first
two
years after the Plant
2
commercial operation date, declining to
1%
in the
third
year after the Plant
2
commercial operation date, and without premium thereafter, plus a redemption premium. In addition, the OPIC Loan is subject to customary mandatory prepayment in the event of certain reductions in generation capacity of the power plants, unless such reductions will not cause the projected ratio of cash flow to debt service to fall below
1.7.
 
The OPIC Loan is secured by substantially all of OrPower
4
’
s assets and by a pledge of all of the equity interests in OrPower
4.
 
The finance agreement includes customary events of default, including failure to pay any principal, interest or other amounts when due, failure to
comply with covenants, breach of representations and warranties, non-payment or acceleration of other debt of OrPower
4,
bankruptcy of OrPower
4
or certain of its affiliates, judgments rendered against OrPower
4,
expropriation, change of control, and revocation or early termination of security documents or certain project-related agreements, subject to various exceptions and notice, cure and grace periods.
 
The repayment of the remaining outstanding DEG Loan (see
“
Full-Recourse Third-Party Debt”
below) in the amount of approximately
$15.8
million as of
December
31,
2016,
has been subordinated to the OPIC Loan.
 
There are various restrictive covenants under the OPIC Loan, which include a required historical and projected
12
-month DSCR of not less than
1.4
(measured as of
March
15,
June
15,
September
15
and
December
15
of each year). If OrPower
4
fails to comply with these financial ratios it will be prohibited from making distributions to its shareholders. In addition, if the DSCR falls below
1.1,
subject to certain cure rights, such failure will constitute an event of default by OrPower
4.
This covenant in respect of Tranche I became effective on
December
15,
2014.
As of
December
31,
2016,
the actual historical and projected
12
-month DSCR was
2.69
and
2.96,
respectively.
 
As of
December
31,
2016,
$246.6
million of the OPIC Loan was outstanding.
 
Debt service reserve
 
As required under the terms of the OPIC Loan, OrPower
4
maintains an account which
may
be funded by cash or backed by letters of credit in an amount sufficient to pay scheduled debt service amounts, including principal and interest, due under the terms of the OPIC Loan in the following
six
months. This restricted cash account is classified as current in the consolidated balance sheets. As of
December
31,
2016
and
2015,
the balance of the account
was
$4.3
million and
$7.2
million, respectively. In addition, as of
December
31,
2016,
part of the required debt service reserve was backed by a letter of credit in the amount of
$17.3
million (see Note
23).
 
Well drilling reserve
 
As required under the terms of the OPIC Loan, OrPower
4
may
be required to maintain an account which
may
be funded by cash or backed by letters of credit to reserve funds for future well drilling, based on determination upon the completion of the expansion work
.
 
OFC Senior Secured Notes
 
In
February
2004,
OFC, a wholly owned subsidiary, issued
$190.0
million of
8.25%
Senior Secured Notes (“OFC Senior Secured Notes”) and received net cash proceeds of approximately
$179.7
million, after deduction of issuance costs of approximately
$10.3
million. The OFC Senior Secured Notes have a final maturity of
December
30,
2020.
Principal and interest on the OFC Senior Secured Notes are payable in semi-annual payments. The OFC Senior Secured Notes are collateralized by substantially all of the assets of OFC and those of its wholly owned subsidiaries and are fully and unconditionally guaranteed by all of the wholly owned subsidiaries of OFC. There are various restrictive covenants under the OFC Senior Secured Notes, which include limitations on additional indebtedness of OFC and its wholly owned subsidiaries. Failure to comply with these and other covenants will, subject to customary cure rights, constitute an event of default by OFC.  In addition, there are restrictions on the ability of OFC to make distributions to its shareholders, which include a required historical and projected
12
-month DSCR of not less than
1.25
(measured semi-annually as of
June
 
30
and
December
 
31
of each year). If OFC fails to comply with the DSCR ratio it will be prohibited from making distributions to its shareholders. The Company believes that the transition to variable energy prices under the Ormesa and Mammoth PPAs and the impact of the currently low natural gas prices on the revenues under these PPAs
may
cause OFC to not meet the DSCR ratio requirements for making distributions, but it does not believe that there will be an event of default by OFC. OFC is only required to measure these covenants on a semi-annual basis and as of
December
31,
2016,
the last measurement date of the covenants, the actual historical
12
-month DSCR was
1.25
and the pro-forma
12
-month DSCR was
1.38.
There were
$17.0
million and
$30.0
million of OFC Senior Secured Notes outstanding as of
December
31,
2016
and
December
31,
2015,
respectively.
 
In
February
2013,
the Company repurchased
$12.8
million aggregate principal amount of OFC Senior Secured Notes from the OFC noteholders and recognized a gain of approximately
$0.8
million in the
first
quarter of
2013.
 
In
January
2014,
the Company repurchased
$13.2
million aggregate principal amount of OFC Senior Secured Notes from the OFC noteholders and recognized a gain of approximately
$0.3
million in the
first
quarter of
2014.
 
In
June
2015,
the Company repurchased
$30.6
million aggregate principal amount of OFC Senior Secured Notes from the OFC noteholders and recognized a loss of approximately
$1.7
million in the
second
quarter of
2015.
In
September
2016,
the Company repurchased
$6.8
million aggregate principal amount of OFC Senior Secured Notes from the OFC noteholders and recognized a loss of
$0.6
million, in the
third
quarter of
2016.
 
OFC
may
redeem the OFC Senior Secured Notes, in whole or in part, at any time, at redemption price equal to the principal amount of the OFC Senior Secured Notes to be redeemed plus accrued interest, premium and liquidated damages, if any, plus a “make-whole” premium. Upon certain events, as defined in the indenture governing the OFC Senior Secured Notes, OFC
may
be required to redeem a portion of the OFC Senior Secured Notes at a redemption price ranging from
100%
to
101%
of the principal amount of the OFC Senior Secured Notes being redeemed plus accrued interest, premium and liquidated damages, if any
.
 
Debt service reserve
 
As required under the terms of the OFC Senior Secured Notes, OFC maintains an account which
may
be funded by cash or backed by letters of credit (see below) in an amount sufficient to pay scheduled debt service amounts, including principal and interest, due under the terms of the OFC Senior Secured Notes in the following
six
months. This restricted cash account is classified as current in the consolidated balance sheets. As of each of
December
31,
2016
and
2015,
the balance of such account
was
$2.1
million and
$1.4
million, respectively. In addition, as of each of
December
31,
2016
and
2015,
part of the required debt service reserve was backed by a letter of credit in the amount of
$11.5
million and
$11.6
million (see Note
23),
respectively.
 
OrCal Senior Secured Notes
 
In
December
2005,
OrCal, a wholly owned subsidiary, issued
$165.0
million,
6.21%
Senior Secured Notes (“OrCal Senior Secured Notes”) and received net cash proceeds of approximately
$161.1
million, after deduction of issuance costs of approximately
$3.9
million, which have been included in deferred financing costs in the consolidated balance sheet. The OrCal Senior Secured Notes have been rated BBB- by Fitch Ratings. The OrCal Senior Secured Notes have a final maturity of
December
30,
2020.
Principal and interest on the OrCal Senior Secured Notes are payable in semi-annual payments. The OrCal Senior Secured Notes are collateralized by substantially all of the assets of OrCal, and those of its subsidiaries and are fully and unconditionally guaranteed by all of the wholly owned subsidiaries of OrCal. There are various restrictive covenants under the OrCal Senior Secured Notes, which
include limitations on additional indebtedness of OrCal and its wholly owned subsidiaries. Failure to comply with these and other covenants will, subject to customary cure rights, constitute an event of default by OrCal. In addition, there are restrictions on the ability of OrCal to make distributions to its shareholders, which include a required historical and projected
12
-month DSCR of not less than
1.25
(measured semi-annually as of
June
 
30
and
December
 
31
of each year). If OrCal fails to comply with the DSCR ratio it will be prohibited from making distributions to its shareholders. OrCal is only required to measure these covenants on a semi-annual basis and as of
December
31,
2016,
the last measurement date of the covenants, the actual historical
12
-month DSCR was
1.77
and the pro-forma
12
-month DSCR was
2.57.
There was
$35.2
million and
$43.3
million of OrCal Senior Secured Notes outstanding as of
December
31,
2016
and
December
31,
2015,
respectively.
 
OrCal
may
redeem the OrCal Senior Secured Notes, in whole or in part, at any time at a redemption price equal to the principal amount of the OrCal Senior Secured Notes to be redeemed plus accrued interest, and a “make-whole” premium. Upon certain events, as defined in the indenture governing the OrCal Senior Secured Notes, OrCal
may
be required to redeem a portion of the OrCal Senior Secured Notes at a redemption price of
100%
of the principal amount of the OrCal Senior Secured Notes being redeemed plus accrued interest
.
 
Debt service reserve
 
As required under the terms of the OrCal Senior Secured Notes, OrCal maintains an account which
may
be funded by cash or backed by letters of credit (see below) in an amount sufficient to pay scheduled debt service amounts, including principal and interest, due under the terms of the OrCal Senior Secured Notes in the following
six
months. This restricted cash account is classified as current in the consolidated balance sheets. As of
December
31,
2016
and
2015,
the balance of such account was
$1.9
million and
$1.6
million, respectively. In addition, as of
December
31,
2016
and
2015,
part of the required debt service reserve was backed by a letter of credit in the amount of
$4.6
million and
$5.5
million, respectively (see Note
23).
 
OFC
2
Senior Secured Notes
 
In
September
2011,
the Company
’s subsidiary OFC
2
and its wholly owned project subsidiaries (collectively, the “OFC
2
Issuers”) entered into a note purchase agreement (the “Note Purchase Agreement”) with OFC
2
Noteholder Trust, as purchaser, John Hancock Life Insurance Company (U.S.A.), as administrative agent, and the DOE, as guarantor, in connection with the offer and sale of up to
$350.0
million aggregate principal amount of OFC
2
Senior Secured Notes (“OFC
2
Senior Secured Notes”) due
December
31,
2034.
 
Subject to the fulfillment of customary and other specified conditions precedent, the OFC
2
Senior Secured Notes
may
be issued in up to
six
distinct series associated with the phased construction (Phase I and Phase II) of the Jersey Valley, McGinness Hills and Tuscarora geothermal power plants, which are owned by the OFC
2
Issuers.
The OFC
2
Senior Secured Notes will mature and the principal amount of the OFC
2
Senior Secured Notes will be payable in equal quarterly installments and in any event not later than
December
31,
2034.
Each series of notes will bear interest at a rate calculated based on a spread over the Treasury yield curve that will be set at least
ten
business days prior to the issuance of such series of notes. Interest will be payable quarterly in arrears. The DOE will guarantee payment of
80%
of principal and interest on the OFC
2
Senior Secured Notes pursuant to Section
1705
of Title XVII of the Energy Policy Act of
2005,
as amended. The conditions precedent to the issuance of the OFC
2
Senior Secured Notes includes certain specified conditions required by the DOE in connection with its guarantee of the OFC
2
Senior Secured Notes.
 
On
October
31,
2011,
the Issuers completed the sale of
$151.7
million in aggregate principal amount
of
4.687%
Series A Notes due
2032
(the “Series A Notes”). The net proceeds from the sale of the Series A Notes, after deducting transaction fees and expenses, were approximately
$141.1
million, and were used to finance a portion of the construction costs of Phase I of the McGinness Hills and Tuscarora power plants and to fund certain reserves. Principal and interest on the Series A Notes are payable quarterly in arrears on the last day of
March,
June,
September
and
December
of each year.
 
On
June
20,
2014,
Phase
1
of Tuscarora Facility achieved Project Completion under the OFC
2
Note Purchase
Agreement. In accordance with the terms of the Note Purchase Agreement and following recalibration of the financing assumptions, the loan amount was adjusted through a principal prepayment of
$4.3
million.
 
On
August
29,
2014,
OFC
2
signed a
$140.0
million loan under the OFC
2
Senior Secured Notes to finance the construction of the McGinness Hills
2
Phase project. This drawdown is the last tranche (Series C notes) under the Note Purchase Agreement with John Hancock Life Insurance Company and guaranteed by the DOE’s Loan Programs Office in accordance with and subject to the DOE's Loan Guarantee Program under Section
1705
of Title XVII of the Energy Policy Act of
2005.
The
$140.0
million loan, which matures in
December
2032,
carries a
4.61%
coupon with principal to be repaid on a quarterly basis. The OFC
2
Senior Secured Notes, which include loans for the Tuscarora, Jersey Valley and McGinness Hills complexes, are rated “BBB” by Standard & Poor's.
 
In connection with the anticipated drawdown, on
August
13,
2014,
the Company entered into an on-the-run interest rate lock agreement with a financial institution with a termination date of
August
15,
2014.
This on-the-run interest rate lock agreement had a notional amount of
$140.0
million and was designated by us
as a cash flow hedge. The objective of this cash flow hedge was to eliminate the variability in the changes in the
10
-year U.S. Treasury rate as that is
one
of the components in the annual interest rate of the OFC
2
loan that was forecasted to be fixed on
August
15,
2014.
As such, the Company hedged the variability in total proceeds attributable to changes in the
10
-year U.S. Treasury rate for the forecasted issuance of fixed rate OFC
2
loan. On
August
18,
2014,
the settlement date, the Company paid
$1.5
million to the counterparty of the on-the-run interest rate lock agreement.
 
The Company concluded that the cash flow hedge was fully effective with no ineffective portion and no amounts excluded from the effectiveness testing, thus
, in
2014,
the total loss from the cash flow hedge was fully recognized in “Loss in respect of derivatives instruments designated for cash flow hedge” under other comprehensive income of
$0.9
million noted above, which was net of related taxes of
$0.6
million. The cash flow hedge loss recorded is amortized over the life of the OFC
2
loan using the effective interest method. In
2016
and
2015,
the Company reclassified
$0.1
million, each year, of the loss from “Accumulated other comprehensive income (loss)” into interest expense.
 
The OFC
2
Senior Secured Notes are collateralized by substantially all of the assets of OFC
2
and those of its wholly owned subsidiaries and are fully and unconditionally guaranteed by all of the wholly owned subsidiaries of OFC
2.
There are various restrictive covenants under the OFC
2
Senior Secured Notes, which include limitations on additional indebtedness of OFC
2
and its wholly owned subsidiaries.
 Failure to comply with these and other covenants will, subject to customary cure rights, constitute an event of default by OFC
2.
  In addition, there are restrictions on the ability of OFC
2
to make distributions to its shareholders.
 
Among other things, the distribution restrictions include a historical debt service coverage ratio requirement of at least
1.2
(on a blended basis for all OFC
2
power plants), measured, at the time of any proposed distribution, over each of the
two
six
-months periods comprised of distinct consecutive fiscal quarters immediately preceding the proposed distribution, and a projected future debt service coverage ratio requirement of at least
1.5
(on a blended basis for all OFC
2
power plants), measured, at the time of any proposed distribution, over each of the
two
six
-months periods comprised of distinct consecutive fiscal quarters immediately following such proposed distribution.
As of
December
31,
2016,
our historical debt service coverage ratio was 
2.49
and
2.09,
 respectively for each of the
two
six
-month periods, and our projected future debt service coverage ratio was
1.98
and
2.05,
respectively for each of the
two
six
-month periods.
 
There were $
247.2
million and
$262.0
million of OFC
2
Senior Secured Notes outstanding as of
December
31,
2016
and
December
31,
2015,
respectively.
 
The Company provided a guarantee in connection with the issuance of the Series A and C Notes. One trigger event is the failure of any facility financed by the relevant Series of OFC
2
Senior Secured Notes to reach completion and meet certain operational performance levels (the non-performance trigger) which gives rise to a prepayment obligation on the OFC
2
Senior Secured Notes. The other trigger event is a payment default on the OFC
2
Senior Secured Notes or the occurrence of certain fundamental defaults that result in the acceleration of the OFC
2
Senior Secured Notes, in each case that occurs prior to the date that the relevant facility(ies) financed by such OFC
2
Senior Secured Notes reaches completion and meets certain operational performance levels. A demand on the Company
’s guarantee based on the non-performance trigger is limited to an amount equal to the prepayment amount on the OFC
2
Senior Secured Notes necessary to bring the OFC
2
Issuers into compliance with certain coverage ratios. A demand on the Company’s guarantee based on the other trigger event is not so limited.
 
Debt service reserve
; other restricted funds
 
Under the terms of the OFC
2
Senior Secured Notes, OFC
2
is required to maintain a debt service reserve and certain other reserves, as follows:
 
 
(i)
A debt service reserve account which
may
be funded by cash or backed by letters of credit (see below) in an amount sufficient to pay scheduled debt service amounts, including principal and interest, due under the terms of the OFC
2
Senior Secured Notes in the following
six
months. This restricted cash account is classified as current in the consolidated balance sheet. As of
December
31,
2016,
part of the required debt service reserve was backed by a letter of credit in the amount of
$21.0
million (see Note
23).
 
 
(ii)
A performance level reserve account, intended to provide additional security for the OFC
2
Senior Secured Notes, which
may
be funded by cash or backed by letters of credit. This reserve builds up over time and reduces gradually each time the
project achieves certain milestones. Upon issuance of the Series A Notes, this reserve was funded in the amount of
$28.0
million. As of
December
31,
2016,
the balance of such account was
$9.7
million and there was no
requirement
for an additional letter of credit to be issued. 
 
 
(iii)
Under the terms of the OFC
2
Senior Secured Notes, OFC
2
is also required to maintain a well field drilling and maintenance reserve that builds up over time and is dedicated to costs and expenses associated with drilling and maintenance of the
project's well field, which
may
be funded by cash or backed by letters of credit.
 
 
(iv)
A performance level reserve account
for McGinness Hills Phase II, intended to provide additional security for the OFC
2
Senior Secured Notes, which
may
be funded by cash or backed by letters of credit. Upon issuance of the Series C Notes, this reserve was funded in the amount of
$53.4
million in letter of credit. As of
December
31,
2016,
there was no
requirement
for an additional letter of credit to be issued.
 
Don A. Campbell Senior
Secured Notes — Non-Recourse
 
On
November
29,
2016,
a Company subsidiary, ORNI
47
LLC (“ORNI
47”),
entered into a note purchase agreement (the “Note Purchase Agreement”) with MUFG Union Bank, N.A., as collateral agent, Munich Reinsurance America, Inc. and Munich American Reassurance Company (the “Purchasers”) pursuant to which ORNI
47
issued and sold to the Purchasers
$92.5
million aggregate principal amount of its
4.03%
Senior Secured Notes due
September
27,
2033
(the “Notes”) in a private placement exempt from the registration requirements of the Securities Act of
1933,
as amended. ORNI
47
is the owner of the Don A. Campbell Phase I (“DAC
1”)
geothermal power plant, and part of ORPD.
 
The net proceeds from the sale of the Notes, after deducting certain transaction expenses and the funding of a debt service reserve account, were approximately $
87.1
million and ORNI
47
intends to use the proceeds from the sale of the Notes to refinance the development and construction costs of the DAC
1
geothermal power plant, which were originally financed using equity.
 
ORNI
47
will pay a scheduled amount of principal of the Notes beginning on
December
27,
2016
and then quarterly, on the
27th
day of each
March,
June,
September
and
December,
until the Notes mature.
 
The Notes constitute senior secured obligations of ORNI
47
and are secured by all of the assets of ORNI
47.
Under the Note Purchase Agreement, ORNI
47
may
prepay at any time all, or from time to time any part of, the Notes in an amount equal to at least
$2
million or such lesser amount as
may
remain outstanding under the Notes at
100%
of the principal amount to be prepaid plus the applicable make-whole amount determined for the prepayment date with respect to such principal amount. Upon the occurrence of a Change of Control (as defined in the Note Purchase Agreement), ORNI
47
must make an offer to each holder of Notes to repurchase all of the holder
’s Notes at
101%
of the aggregate principal amount of Notes to be repurchased plus accrued and unpaid interest, if any, on the Notes to be repurchased to, but not including, the date of repurchase. Each holder of Notes
may
accept such offer in whole or in part. In certain events, including certain asset sales outside the ordinary course of business, ORNI
47
must make mandatory prepayments of the Notes at
100%
of the principal amount to be prepaid. The Note Purchase Agreement requires ORNI
47
to comply with certain covenants, including, among others, restrictions on the incurrence of indebtedness or liens, amendment or modification of material project documents, the ability of ORNI
47
to merge or consolidate with another entity. The Note Purchase Agreement also contains customary events of default.  In addition, there are restrictions on the ability of ORNI
47
to make distributions to its shareholders, which include a required historical and projected Debt Service Coverage Ratio not less than
1.20
for the
four
fiscal quarterly periods. As of
December
31,
2016,
the projected Debt Service Coverage Ratio was
1.85.
 
As of
December
31,
2016,
$92.4
million is outstanding under the DAC
1
Loan.
 
Senior Unsecured Bonds
 
In
August
2010,
the Company entered into a trust instrument governing the issuance of, and accepted subscriptions for, an aggregate principal amount of approximately
$142.0
million of senior unsecured bonds (the “Bonds”). Subject to early redemption, the principal of the Bonds was repayable in a single bullet payment upon the final maturity of the Bonds on
August
1,
2017.
The Bonds bore interest at a fixed rate of
7%,
payable semi-annually
.
In
February
2011,
the Company accepted subscription for an aggregate principal amount of approximately
$107.5
million of additional senior unsecured bonds (the “Additional Bonds”) under
two
addendums to the trust instrument. The terms and conditions of the Additional Bonds were identical to the original Bonds. The Additional Bonds were issued at a premium which reflects an effective fixed interest of
6.75%.
 
In
September
 
2016,
the Company concluded an auction
tender
and accepted subscriptions for
$204
million aggregate principal amount of
two
tranches (Series
2
approximately
$67
million and Series
3
approximately
$137
million) of senior unsecured bonds. The proceeds from the senior unsecured bonds were used on
September
29,
2016,
to prepay the Company
’s
$250
million senior secured bonds that were payable on
August
1,
2017.
 
The senior unsecured bonds,
 which were issued on
September
14,
2016,
have an outstanding aggregate principal amount of approximately
$204.0
million consisting of
two
tranches (approximately
$67
million principal amount of Series
2
and approximately
$137
million principal amount of Series
3).
The Series
2
Bonds will mature in
September
2020
and bear interest at a fixed rate of
3.7%
per annum, payable semi-annually. The Series
3
Bonds will mature in
September
2022
and bear interest at a fixed rate of
4.45%
per annum, payable semi-annually. The Bonds will be repaid at maturity in a single bullet payment, unless earlier prepaid by Ormat pursuant to the terms and conditions of the trust instrument that governs the Bonds. Both tranches received a rating of ilA+ from Maloot S&P in Israel with a stable outlook.
 
Loans from institutional investors
 
In
July
2009,
the Company entered into a
6
-year loan agreement of
$20.0
million with a group of institutional investors (the “First Loan”). The First Loan matured on
July
16,
2015,
was payable in
12
semi-annual installments, which commenced on
January
16,
2010,
and bore interest of
6.5%
.
As of
December
31,
2015,
this loan was fully repaid.
 
In
July
2009,
the Company entered into an
8
-year loan agreement of
$20.0
million with another group of institutional investors (the “Second Loan”). The Second Loan matures on
August
1,
2017,
is payable in
12
semi-annual installments, which commenced on
February
1,
2012,
and bears interest at
6
-month LIBOR plus
5.0%
.
As of
December
31,
2016,
$3.3
million was outstanding under this loan.
 
In
November
2010,
the Company entered into a
6
-year loan agreement of
$20.0
million with a group of institutional investors (the “Third Loan”). The Third Loan maturity date was
November
16,
2016,
was payable in
ten
semi-annual installments, which commenced on
May
16,
2012,
and bore interest of
5.75%
.
In
October
2015,
the Company prepaid this term loan in full and in accordance with the loan’s prepayment provisions. The total prepayment amount was
$6.2
million comprising principal and interest.
 
Loan Agreement
s
with DEG
(the Olkaria III Complex
)
 
In
March
2009,
the Company
’s wholly owned subsidiary, OrPower
4,
entered into a project financing loan of
$105.0
million to refinance its investment in Phase I of the Olkaria III complex located in Kenya (the “DEG Loan”). The DEG Loan was provided by a group of European Development Finance Institutions (“DFIs”) arranged by DEG — Deutsche Investitions — und Entwicklungsgesellschaft mbH (“DEG”). The
first
disbursement of
$90.0
million occurred on
March
23,
2009
and the
second
disbursement of
$15.0
million occurred on
July
10,
2009.
The DEG Loan will mature on
December
15,
2018,
and is payable in
19
equal semi-annual installments, commencing
December
15,
2009.
Interest on the DEG Loan is variable based on
6
-month LIBOR plus
4.0%
and OrPower
4
had the option to fix the interest rate upon each disbursement. Upon the
first
disbursement, the Company fixed the interest rate on
$77.0
million of the DEG Loan at
6.90%.
As of
December
31,
2016,
$15.8
million is outstanding under the DEG Loan (out of which
$10.8
million bears interest at a fixed rate).
 
In
October
2012,
OrPower
4,
DEG and the parties thereto
amended and restated the DEG Loan agreement (the “
DEG Amendment”
). The DEG Amendment became effective on
November
9,
2012
upon the execution by OrPower
4
of the Tranche I and Tranche II Notes and the related disbursements of the proceeds thereof under the OPIC Finance Agreement (as described above). The amended and restated DEG Loan Agreement provides for: (i) the prepayment in full of
two
loans thereunder in the total principal amount of approximately
$20.5
million; (ii) the release and discharge of all collateral security previously provided by OrPower
4
to the secured parties under the DEG Loan agreement and the substitution of the Company’
s guarantee of OrPower
4’
s payment and certain other performance obligations in lieu thereof; and (iii) the establishment of a LIBOR floor of
1.25%
in respect of
one
of the loans under the DEG Loan agreement, and (iv) the elimination of most of the affirmative and negative covenants under the DEG Loan agreement and certain other conforming provisions to take into account OrPower
4’
s execution of the OPIC Finance Agreement and its obligations thereunder.
 
On
October
20,
2016,
OrPower
4
entered into a new
$50
million subordinated facility agreement with
DEG (the “DEG
2
Facility Agreement”) and on
December
21,
2016,
OrPower
4
completed a drawdown of the full loan amount of
$50
million, with a fixed interest rate of
6.28%
for the duration of the loan (the “DEG
2
Loan”). The DEG
2
Loan will be repaid in
20
equal semi-annual principal installments commencing
December
21,
2018,
with a final maturity on
June
21,
2028.
The DEG
2
Loan is intended for the refinance of Plant
4
of the Olkaria III Complex, which was originally financed using equity and is subordinated to the senior loan provided by OPIC for Plants
1
-
3
of the complex. The loan is guaranteed by the Company.
 
Under the DEG
2
Facility Agreement, OrPower
4
may
prepay at any time all, or from time to time any part of the DEG
2
Loan in an amount equal to at least
$5
million or such lesser amount as
may
remain outstanding under the DEG
2
Loan at
100%
of the principal amount to be prepaid plus the applicable make-whole amount and certain prepayment premium amount determined for the prepayment date with respect to such principal amount. In certain events, OrPower
4
must make mandatory prepayments of the DEG
2
Loan at
100%
of the principal amount to be prepaid
plus the applicable make-whole amount and certain prepayment premium amount determined for the prepayment date with respect to such principal amount. The DEG
2
Facility Agreement requires OrPower
4
to comply with certain covenants, including, among others, restrictions on the incurrence of indebtedness or liens. The Facility Agreement also contains customary events of default.
 
As of
December
31,
2016,
$50.0
million is outstanding under the DEG
2
Loan.
 
Revolving credit lines with commercial banks
 
As of
December
31,
2016,
the Company has credit agreements with
eight
commercial banks for an aggregate amount of
$524.8
million (including
$60.0
million from Union Bank, N.A. (“Union Bank”) and
$35.0
million from HSBC), see below. Under the terms of these credit agreements, the Company, or its Israeli subsidiary, Ormat Systems, can request: (i) extensions of credit in the form of loans and/or the issuance of
one
or more letters of credit in the amount of up to
$215.0
million; and (ii) the issuance of
one
or more letters of credit in the amount of up to
$309.8
million. The credit agreements mature between end of
March,
2017
and
July
2019.
Loans and draws under the credit agreements or under any letters of credit will bear interest at the respective bank’s cost of funds plus a margin.
 
As of
December
31,
2016,
no
loans were outstanding, and letters of credit with an aggregate stated amount
of
$341.6
million were issued and outstanding under such credit agreements.
 
Credit Agreements
 
Credit agreement with Union Bank
 
 
In
February
 
2012,
the Company’s wholly owned subsidiary, Ormat Nevada Inc. (“Ormat Nevada”), entered into an amended and restated credit agreement with Union Bank. Under the amended and restated agreement, the credit termination date was extended to
February
 
7,
2014
(which was subsequently extended to
March
31,
2014
pursuant to Amendment No.
1
to the agreement and then to
June
30,
2017),
and the aggregate amount available under the credit agreement was increased from
$39.0
million to
$60.0
million. The facility is limited to the issuance, extension, modification or amendment of letters of credit. Union Bank is currently the sole lender and issuing bank under the credit agreement, but is also designated as an administrative agent on behalf of banks that
may,
from time to time in the future, join the credit agreement as parties thereto. In connection with this transaction, the Company entered into a guarantee in favor of the administrative agent for the benefit of the banks, pursuant to which the Company agreed to guarantee Ormat Nevada’s obligations under the credit agreement. Ormat Nevada’s obligations under the credit agreement are otherwise unsecured. There are various restrictive covenants under the credit agreement, which include a requirement to comply with the following financial ratios, which are measured quarterly: (i) a
12
-month debt to EBITDA ratio not to exceed
4.5;
(ii) 
12
-month DSCR of not less than
1.35;
and (iii) distribution leverage ratio not to exceed
2.0.
As of
December
31,
2016:
(i) the actual
12
-month debt to EBITDA ratio was
2.95;
(ii) the
12
-month DSCR was
2.54;
and (iii) the distribution leverage ratio was
0.81.
In addition, there are restrictions on dividend distributions in the event of a payment default or noncompliance with such ratios, and subject to specified carve-outs and exceptions, a negative pledge on the assets of Ormat Nevada in favor of Union Bank. As of
December
31,
2016,
letters of credit in the aggregate amount of
$32.6
million remain issued and outstanding under this credit agreement with Union Bank.
 
Credit agreement with
HSBC
 
In
May
 
2013,
Ormat Nevada, entered into a credit agreement with HSBC Bank USA, N.A for
one
year with annual renewals. The current expiration date of the facility under this credit agreement is
December
31,
2017.
The aggregate amount available under the credit agreement was increased by
$10
million to
$35.0
million. This credit line is limited to the issuance, extension, modification or amendment of letters of credit and
$10.0
million out of this credit line for working capital needs. HSBC is currently the sole lender and issuing bank under the credit agreement, but is also designated as an administrative agent on behalf of banks that
may,
from time to time in the future, join the credit agreement as parties thereto. In connection with this transaction, we entered into a guarantee in favor of the administrative agent for the benefit of the banks, pursuant to which we agreed to guarantee Ormat Nevada’s obligations under the credit agreement. Ormat Nevada’s obligations under the credit agreement are otherwise unsecured. There are various restrictive covenants under the credit agreement, including a requirement to comply with the following financial ratios, which are measured quarterly: (i) a
12
-month debt to EBITDA ratio not to exceed
4.5;
(ii) 
12
-month DSCR of not less than
1.35;
and (iii) distribution leverage ratio not to exceed
2.0.
As of
December
31,
2016:
(i) the actual
12
-month debt to EBITDA ratio was
2.95;
(ii) the
12
-month DSCR was
2.54;
and (iii) the distribution leverage ratio was
0.81.
In addition, there are restrictions on dividend distributions in the event of a payment default or noncompliance with such ratios, and subject to specified carve-outs and exceptions, a negative pledge on the assets of Ormat Nevada in favor of HSBC. As of
December
31,
2016,
letters of credit in the aggregate amount of
$23.2
million remain issued and outstanding under this credit agreement.
 
Restrictive covenants
 
The Company
’s obligations under the credit agreements, the loan agreements, and the trust instrument governing the bonds, described above, are unsecured, but are subject to a negative pledge in favor of the banks and the other lenders and certain other restrictive covenants. These include, among other things, a prohibition on: (i) creating any floating charge or any permanent pledge, charge or lien over our assets without obtaining the prior written approval of the lender; (ii) guaranteeing the liabilities of any
third
party without obtaining the prior written approval of the lender; and (iii) selling, assigning, transferring, conveying or disposing of all or substantially all of our assets, or a change of control in our ownership structure. Some of the credit agreements, the term loan agreements, as well as the trust instrument contain cross-default provisions with respect to other material indebtedness owed by us to any
third
party. In some cases, the Company has agreed to maintain certain financial ratios, which are measured quarterly, such as: (i) equity of at least
$600.0
million and in no event less than
25%
of total assets; (ii)
12
-month debt, net of cash, cash equivalents marketable securities and short-term bank deposits to Adjusted EBITDA ratio not to exceed
6;
and (iii) dividend distribution not to exceed
35%
of net income for that year. As of
December
31,
2016:
(i) total equity was
$1,170.0
million and the actual equity to total assets ratio was
47.53%,
and (ii) the
12
-month debt, net of cash, cash equivalents marketable securities and short-term bank deposits to Adjusted EBITDA ratio was
2.32.
During the year ended
December
31,
2016,
the Company distributed interim dividends in an aggregate amount of
$25.7
million.
 
 
 
 
Future minimum payments
 
Future minimum payments under long-term obligations, excluding revolving credit lines with commercial banks, as of
December
31,
2016
are as follows:
 
   
(Dollars in
thousands)
  
         
Year ending December 31:
 
 
 
 
2017
   $
65,971
  
2018
    
64,805
  
2019
    
59,146
  
2020
    
126,870
  
2021
    
46,579
  
Thereafter
    
593,161
  
Total
   $
956,532
  
v3.6.0.2
Note 13 - Puna Power Plant Lease Transactions
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Leases of Lessee Disclosure [Text Block]
NOTE
13
— PUNA POWER PLANT LEASE TRANSACTIONS
 
In
2005,
the Company
’s wholly owned subsidiary in Hawaii, Puna Geothermal Ventures (“PGV”), entered into transactions involving the original geothermal power plant of the Puna complex located on the Big Island (the “Puna Power Plant”
).
 
Pursuant to a
31
-year head lease (the “Head Lease
”), PGV leased the Puna Power Plant to an unrelated company in return for prepaid lease payments in the total amount of
$83.0
million (the “Deferred Lease Income”). The carrying value of the leased assets as of
December
31,
2016
and
2015
amounted to
$28.0
million and
$30.7
million, net of accumulated depreciation of
$32.9
million and
$30.2
million, respectively. The unrelated company (the “Lessor”) simultaneously leased back the Puna Power Plant to PGV under a
23
-year lease (the “Project Lease”). PGV’s rent obligations under the Project Lease will be paid solely from revenues generated by the Puna Power Plant under a PPA that PGV has with Hawaii Electric Light Company (“HELCO”). The Head Lease and the Project Lease are non-recourse lease obligations to the Company. PGV’s rights in the geothermal resource and the related PPA have not been leased to the Lessor as part of the Head Lease but are part of the Lessor’s security package.
 
The Head Lease and the Project Lease are being accounted for separately. Each was classified as an operating lease in accordance with the accounting standards for leases. The Deferred Lease Income is amortized into revenue, using the straight-line method, over the
31
-year term of the Head Lease. Deferred transaction costs amounting to
$4.2
million are being amortized, using the straight-line method, over the
23
-year term of the Project Lease.
 
Future minimum lease payments under the Project Lease, as of
December
31,
2016,
are as follows:
 
   
(Dollars in
thousands)
  
Year ending December 31:
  
 
 
 
2017
   $
8,747
  
2018
    
8,944
  
2019
    
6,018
  
2020
    
2,450
  
2021
    
1,723
  
Thereafter
    
2,740
  
Total
   $
30,622
  
 
Depository accounts
 
As required under the terms of the lease agreements, there are certain reserve funds that need to be managed by the indenture trustee in accordance with certain balance requirements. Such reserve funds amounted to
$2.9
million and
$2.1
million as of
December
31,
2016
and
2015,
respectively, and were included in restricted cash accounts in the consolidated balance sheets and were classified as current as they were used for current payments
.
 
Distribution account
 
PGV maintains an account to deposit its remaining cash, after making all of the necessary payments and transfers as provided for in the lease agreements, in order to make distributions to Ormat Nevada. The distributions are allowed only if PGV maintains various restrictive covenants under the lease agreements, which include limitations on additional indebtedness. As of
December
31,
2016
and
2015,
the balance of such account was
$0
.
v3.6.0.2
Note 14 - Tax Monetization Transactions
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Disclosure Of Investments In And Advances To Affiliates [Text Block]
NOTE
14
—TAX MONETIZATION TRANSACTIONS
 
OPAL
TRANSACTION
 
On
December
16,
2016,
the Company’s wholly owned subsidiary Ormat Nevada Inc. (“Ormat Nevada”) entered into an equity contribution agreement (the “Equity Contribution Agreement”) with OrLeaf LLC (“OrLeaf”) and JPM Capital Corporation (“JPM”) with respect to Opal Geo LLC (“Opal Geo”). Also on
December
16,
2016,
OrLeaf, a newly formed limited liability company formed by Ormat Nevada and ORPD LLC, entered into an amended and restated limited liability company agreement of Opal Geo (the “LLC Agreement”) with JPM. The transactions contemplated by the Equity Contribution Agreement and LLC Agreement will allow the Company to monetize federal production tax credits (“PTCs”) and certain other tax benefits relating to the operation of
five
geothermal power plants located in Nevada.
 
In connection with the
transactions contemplated by the Equity Contribution Agreement and the LLC Agreement, Ormat Nevada transferred its indirect ownership interest in the McGinness Hills (Phase I and Phase II), Tuscarora, Jersey Valley and Don A. Campbell Phase
2
(“DAC
2”)
geothermal power plants to Opal Geo. Prior to such transfer, Ormat Nevada held an approximately
63
.25%
indirect ownership interest in DAC
2
through ORPD LLC, a joint venture between Ormat Nevada and Northleaf Geothermal Holdings LLC (“Northleaf”), an affiliate of Northleaf Capital Partners, and held, directly or indirectly, a
10
0%
ownership interest in the remaining geothermal power plants that were transferred to Opal Geo.
 
Pursuant
to the Equity Contribution Agreement, JPM contributed approximately
$62.1
million to Opal Geo in exchange for
100%
of the Class B Membership Interests of Opal Geo. JPM also agreed to make deferred capital contributions to Opal Geo based on the amount of electricity generated by the DAC
2
and McGinness Hills Phase II power plants which are eligible for the federal production tax credit. The Company expects the aggregate amount of JPM’s deferred capital contributions to equal approximately
$21
million and to be paid over time covering the period through
December
31,
2022.
 
Und
er the LLC Agreement, until
December
31,
2022,
OrLeaf will receive distributions of
97.5%
of any distributable cash generated by operation of the power plants while JPM will receive distributions of
2.5%
of any distributable cash generated by operation of the power plants. Unless JPM has already achieved its target internal rate of return on its investment in Opal Geo, from
December
31,
2022
until JPM has achieved its target internal rate of return, JPM will receive
10
0%
of any distributable cash generated by operation of the power plants. Thereafter, OrLeaf will receive distributions of
97.5%,
and JPM will receive
2.5%,
of any distributable cash generated by operation of the power plants.
 
Und
er the LLC Agreement, all items of Opal Geo income and loss
, gain, deduction and credit (including the federal production tax credits relating to the operation of the
two
PTC eligible power plants) will be allocated, until JPM has achieved its target internal rate of return on its investment in Opal Geo (and for so long as the
two
PTC eligible power plants are generating PTCs),
99%
to JPM and
1%
to OrLeaf, or
5%
to JPM and
95%
to OrLeaf if PTCs are no longer available to either of the
two
PTC eligible power plants. Once JPM achieves its target internal rate of return, all items of Opal Geo income and loss, gain, deduction and credit will be allocated
5%
to JPM and
95%
to OrLeaf.
 
Und
er the LLC Agreement, OrLeaf, which owns
1
00%
of the Class A Membership Interests in Opal Geo, will serve as the managing member of Opal Geo and control the day-to
-day management of Opal Geo and its portfolio of
five
power plants. However, in certain limited circumstances (such as bankruptcy of Orleaf, fraud or gross negligence by OrLeaf) JPM
may
remove OrLeaf as the managing member of Opal Geo. JPM, as the Class B Member of Opal Geo, has consent and approval rights with respect to certain items that are designated as major decisions for Opal Geo and the
five
power plants. In addition, by virtue of certain provisions in OrLeaf’s own limited liability company agreement, and consistent with the ORPD LLC formation documents, Northleaf has similar consent and approval rights with respect to OrLeaf’s determination of major decisions pertaining to the DAC
2
power plant
. In both cases, these major decisions are generally equivalent to customary minority protection rights. As a result, the Company’s wholly owned subsidiary
, Ormat Nevada, which serves as the managing member of OrLeaf and as the managing member of ORPD LLC
, will effectively retain the day-to-day control and management of Opal Geo and its portfolio of
five
power plants.
 
The
LLC Agreement contains certain customary restrictions on transfer applicable to both OrLeaf and JPM with respect to their respective Membership Interests in Opal Geo, and also provides OrLeaf with a right of
first
offer in the event JPM desires to transfer any of its Class B Membership Interests, pursuant to which OrLeaf
may
purchase such Class B Membership Interests. The LLC Agreement also provides OrLeaf with the option to purchase all of the Class B Membership Interests on either
December
31,
2022
or the date that is
9
years after the closing date under the Equity Contribution Agreement at a price equal to the greater of (i) the fair market value of the Class B Membership Interests as of the date of purchase (subject to certain adjustments) and (ii)
$3
million.
 
Pursuant
to the Equity Contribution Agreement, the Company has provided a guaranty for the benefit of JPM of certain of OrLeaf’s indemnification obligations to JPM under the LLC Agreement. In addition, Ormat Nevada also provided a guaranty for the benefit of JPM of all present and future payment and performance obligations of OrLeaf under the LLC Agreement and each ancillary document to which OrLeaf is a party.
  
Pursuant to the Equity Contribution Agreement, JPM contributed approximately
$62.1
million to Opal Geo in exchange for
100%
of the Class B Membership Interests of Opal Geo. The contribution was recorded as
$3.7
million allocation to noncontrolling interests and
$58.5
million allocation to liability associated with sale of tax benefits
as described in Note
1.
JPM also agreed to make deferred capital contributions to Opal Geo based on the amount of electricity generated by the DAC
2
and McGinness Hills Phase II power plants which are eligible for the federal production tax credit. 
 
 
OPC TRANSACTION
 
In
June
2007,
Ormat Nevada entered into agreements with affiliates of Morgan Stanley & Co. Incorporated and Lehman Brothers Inc. (Morgan Stanley Geothermal LLC and Lehman-OPC LLC), under which those investors purchased, for cash, interests in a newly formed subsidiary of Ormat Nevada, OPC LLC (“OPC”), entitling the investors to certain tax benefits (such as production tax credits (“PTCs”) and accelerated depreciation) and distributable cash associated with
four
geothermal power plants
.
 
The
first
closing under the agreements occurred in
2007
and covered the Company
’s Desert Peak
2,
Steamboat Hills, and Galena
2
power plants. The investors paid
$71.8
million at the
first
closing. The
second
closing under the agreements occurred in
2008
and covered the Galena
3
power plant. The investors paid
$63.0
million at the
second
closing.
 
Ormat Nevada continues to operate and maintain the power plants. Under the agreements, Ormat Nevada initially received all of the distributable cash flow generated by the power plants, while the investors received substantially all of the production tax credits and taxable income or loss (together, the “Economic Benefits”). Once Ormat Nevada recovered the capital that it has invested in the power plants, which occurred in the
fourth
quarter of
2010,
the investors receive both the distributable cash flow and the Economic Benefits. The investors
’ return is limited by the term of the transaction. Once the investors reach a target after-tax yield on their investment in OPC (the “OPC Flip Date”), Ormat Nevada will receive
95%
of both distributable cash and taxable income, on a going forward basis. Following the OPC Flip Date, Ormat Nevada also has the option to buy out the investors’ remaining interest in OPC at the then-current fair market value or, if greater, the investors’ capital account balances in OPC. Should Ormat Nevada exercise this purchase option, it would thereupon revert to being sole owner of the power plants.
 
The Class B membership units are provided with a
5%
residual economic interest in OPC. The
5%
residual interest commences on achievement by the investors of a contractually stipulated return that triggers the OPC Flip Date. The actual OPC Flip Date is expected to occur in the
second
quarter of
2017.
This residual
5%
interest represents a noncontrolling interest and is not subject to mandatory redemption or guaranteed payments. Cash is distributed each period in accordance with the cash allocation percentages stipulated in the agreements. Until the
fourth
quarter of
2010,
Ormat Nevada was allocated the cash earnings in OPC and therefore, the amount allocated to the
5%
residual interest represented the noncash loss of OPC which principally represented depreciation on the property, plant and equipment. As from the
fourth
quarter of
2010,
the distributable cash is allocated to the Class B membership units.
As a result of the acquisition by Ormat Nevada, on
October
30,
2009,
of all of the Class B membership units of OPC held by Lehman-OPC LLC (see below), the residual interest decreased to
3.5%.
Such residual interest increased to
5%
on
February
3,
2011
when Ormat Nevada sold its Class B membership units to JPM Capital Corporation (“JPM”) (see below).
 
The Company
’s voting rights in OPC are based on a capital structure that is comprised of Class A and Class B membership units. Through Ormat Nevada, the Company owns all of the Class A membership units, which represent
75%
of the voting rights in OPC. The investors own all of the Class B membership units, which represent
25%
of the voting rights in OPC. In the period from
October
30,
2009
to
February
3,
2011,
the Company owned, through Ormat Nevada, all of the Class A membership units, which represented
75%
of the voting rights in OPC, and
30%
of the Class B membership units, which represented
7.5%
of the voting rights of OPC. In total the Company had
82.5%
of the voting rights in OPC as of
December
31,
2010.
In that period, the investors owned
70%
of the Class B membership units, which represented
17.5%
of the voting rights of OPC. Other than in respect of customary protective rights, all operational decisions in OPC are decided by the vote of a majority of the membership units. Following the OPC Flip Date, Ormat Nevada’s voting rights will increase to
95%
and the investor’s voting rights will decrease to
5%.
Ormat Nevada retains the controlling voting interest in OPC both before and after the OPC Flip Date and therefore consolidates OPC.
 
On
October
30,
2009,
Ormat Nevada acquired from Lehman-OPC
LLC all of the Class B membership units of OPC held by Lehman-OPC pursuant to a right of
first
offer for a price of
$18.5
million. A substantial portion of the initial sale of the Class B membership units by Ormat Nevada was accounted for as a financing transaction. As a result, the repurchase of these interests at a discount resulted in a pre-tax gain of
$13.3
million in the year ended
December
31,
2009.
In addition, an amount of approximately
$1.1
million has been reclassified from noncontrolling interest to additional paid-in capital representing the
1.5%
residual interest of Lehman-OPC’s Class B membership units.
 
On
February
3,
2011,
Ormat Nevada sold to JPM all of the Class B membership units of OPC that it had acquired on
October
30,
2010
for a sale price of
$24.9
million in cash. The Company did not record any gain from the sale of its Class B membership interests in OPC to JPM
.
A substantial portion of the Class B membership units are accounted for as a financing transaction. As a result, the majority of these proceeds were recorded as a liability. In addition,
$2.3
million has been reclassified from additional paid-in capital to noncontrolling interest representing the
1.5%
residual interest of JPM’s Class B membership units.
 
O
RTP
TRANSACTION
 
In
January
 
2013,
Ormat Nevada entered into agreements with JP Morgan (“JPM”) under which JPM purchased interests in a newly formed subsidiary of Ormat Nevada, ORTP, LLC (“ORTP”), entitling JPM to certain tax benefits (such as PTCs and accelerated depreciation) associated with certain geothermal power plants in California and Nevada.
 
Under the terms of the transaction, Ormat Nevada transferred the Heber complex, the Mammoth complex, the Ormesa complex, and the Steamboat
2
and
3,
Burdette (Galena
1)
and Brady power plants to ORTP, and sold class
 B membership units in ORTP to JPM. In connection with the closing, JPM paid approximately
$35.7
million to Ormat Nevada and will make additional payments to Ormat Nevada of
25%
of the value of PTCs generated by the portfolio over time. The additional payments were expected to be made until
December
 
31,
2016
up to maximum amount of
$11.0
million. In the
first
quarter of
2017
and
2016,
the Company received
$1.6
million and
$2.0
million, respectively.
 
Ormat Nevada will continue to operate and maintain the power plants. Under the agreements, Ormat Nevada will initially receive all of the distributable cash flow generated by the power plants, while JPM will receive substantially all of PTCs and the taxable income or loss (together, the “Economic Benefits”). JPM
’s return is limited by the terms of the transaction. Once JPM reaches a target after-tax yield on its investment in ORTP (the “ORTP Flip Date”), Ormat Nevada will receive
97.5%
of the distributable cash and
95%
of the taxable income, on a going forward basis. At any time during the
twelve
-month period after the end of the fiscal year in which the ORTP Flip Date occurs (but no earlier than the expiration of
five
years following the date that the last of the power plants was placed in service for purposes of federal income taxes), Ormat Nevada also has the option to buy out JPM’s remaining interest in ORTP at the then-current fair market value. If Ormat Nevada were to exercise this purchase option, it would become the sole owner of the power plants again.
 
The Class B membership units entitle the holder to
5.0%
(allocation of income and loss) and
2.5%
(allocation of cash) residual economic interests in ORTP. The
5.0%
and
2.5%
residual interests commence on achievement by JPM of a contractually stipulated return that triggers the ORTP Flip Date. The actual ORTP Flip Date is expected to occur in the
second
quarter of
2017.
These residual
5.0%
and
2.5%
interests represent noncontrolling interests and are not subject to mandatory redemption or guaranteed payments.
 
The Company
’s voting rights in ORTP are based on a capital structure that is comprised of Class A and Class B membership units. Through Ormat Nevada the Company owns all of the Class A membership units, which represent
75%
of the voting rights in ORTP. JPM owns all of the Class B membership units, which represent
25%
of the voting rights of ORTP. Other than in respect of customary protective rights, all operational decisions in ORTP are decided by the vote of a majority of the membership units. Ormat Nevada retains the controlling voting interest in ORTP both before and after the ORTP Flip Date and therefore will continue to consolidate ORTP.
v3.6.0.2
Note 15 - Asset Retirement Obligation
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Asset Retirement Obligation Disclosure [Text Block]
NOTE
 
15
 — ASSET RETIREMENT OBLIGATION
 
The following table presents a reconciliation of the beginning and ending aggregate carrying amount of asset retirement obligation for the years presented below:
 
   
Year Ended December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Balance at beginning of year
   $
20,856
     $
19,142
  
Revision in estimated cash flows
    
303
      
(681
 )
Liabilities incurred
    
540
      
859
  
Accretion expense
    
1,649
      
1,536
  
Balance at end of year
   $
23,348
     $
20,856
  
v3.6.0.2
Note 16 - Stock-based Compensation
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE
16
— STOCK-BASED COMPENSATION
 
The Company makes an estimate of expected forfeitures and recognizes compensation costs only for those stock-based awards expected to vest. As of
December
31,
2016,
the total future compensation cost related to unvested stock-based awards that are expected to vest is $
11.3
million, which will be recognized over a weighted average period of
1.4
years.
 
During the years ended
December
31,
2016,
2015
and
2014,
the Company recorded compensation related to stock-based awards as follows
:
 
   
Year Ended December 31,
  
   
2016
    
2015
    
2014
  
   
(Dollars in thousands,
except per share data)
  
Cost of revenues
   $
2,400
     $
1,753
     $
3,076
  
Selling and marketing expenses
    
247
      
123
      
261
  
General and administrative expenses
    
2,510
      
2,079
      
2,234
  
Total stock-based compensation expense
    
5,157
      
3,955
      
5,571
  
Tax effect on stock-based compensation expense
    
617
      
440
      
836
  
Net effect of stock-based compensation expense
   $
4,540
     $
3,515
     $
4,735
  
 
During the
fourth
quarters of
2016,
2015
and
2014,
the Company evaluated the trends in the stock-based award forfeiture rate and determined that the actual rates are
10.3%,
9.66%
and
8.02%,
respectively. This represents an increase of
7%,
20%
and
12%,
respectively, from prior estimates. As a result of the change in the estimated forfeiture rate, there was an immaterial impact on stock-based compensation expense in the respective periods.
 
Valuation assumptions
 
Prior to
2016,
t
he fair value of each grant of stock-based awards was estimated using the Black-Scholes valuation model and the assumptions noted in the following table. The Company’s expected term represented the period that the Company’s stock-based awards were expected to be outstanding. In the absence of enough historical information, the expected term was determined using the simplified method giving consideration to the contractual term and vesting schedule. In
2016,
The Company estimated the fair value of the stock-based awards using the Excercise Multiple-Based Lattice Model as it enables a degree of accounting for the complexities of option valuation and reduces the probability of a measurement error.
 The dividend yield forecast is expected to be
20%
of the Company’s yearly net profit, which is equivalent to a
1.1%
yearly weighted average dividend rate in the year ended
December
31,
2016.
The risk-free interest rate was based on the yield from U.S. constant treasury maturities bonds with an equivalent term. The forfeiture rate is based on trends in actual stock-based awards forfeitures.
 
The Company calculated the fair value of each stock-based award on the date of grant based on the following assumptions
:
 
   
Year Ended December 31,
  
   
2016
    
2015
    
2014
  
For stock options issued by the Company:
                        
Risk-free interest rates
    
1.3
 %    
1.4
 %    
1.7
 %
Expected lives (in years)
    
4.5
      
4.0
      
5.1
  
Dividend yield
    
1.1
 %    
0.7
 %    
0.9
 %
Expected volatility
    
30.7
 %    
29.2
 %    
35.1
 %
Forfeiture rate (weighted average)
    
8.4
 %    
0
 %    
0
 %
 
Stock-based awards
 
The
2004
Incentive Compensation Plan
 
In
2004,
the Company
’s Board of Directors adopted the
2004
Incentive Compensation Plan
(“2004
Incentive Plan”), which provides for the grant of the following types of awards: incentive stock options, non-qualified stock options, restricted stock, stock appreciation rights (“SARs”), stock units, performance awards, phantom stock, incentive bonuses, and other possible related dividend equivalents to employees of the Company, directors and independent contractors. Under the
2004
Incentive Plan, a total of
3,750,000
shares of the Company’s common stock have been reserved for issuance, all of which could be issued as options or as other forms of awards. Options and SARs granted to employees under the
2004
Incentive Plan cliff vest and are exercisable from the grant date as follows:
25%
after
24
months,
25%
after
36
months, and the remaining
50%
after
48
months. Options granted to non-employee directors under the
2004
Incentive Plan cliff vest and are exercisable
one
year after the grant date. Vested shares
may
be exercised for up to
ten
years from the date of grant. The shares of common stock will be issued upon exercise of options or SARs from the Company’s authorized share capital. The
2004
Incentive Plan expired in
May
2012
upon adoption of the
2012
Incentive Plan, except as to share based awards outstanding on that date.
 
The
2012
Incentive Compensation Plan
 
In
May
2012,
the Company
’s shareholders adopted the
2012
Incentive Compensation Plan
(“2012
Incentive Plan”), which provides for the grant of the following types of awards: incentive stock options, non-qualified stock options, restricted stock, SARs, stock units, performance awards, phantom stock, incentive bonuses, and other possible related dividend equivalents to employees of the Company, directors and independent contractors. Under the
2012
Incentive Plan, a total of
4,000,000
shares of the Company’s common stock have been reserved for issuance, all of which could be issued as options or as other forms of awards. Options and SARs granted to employees under the
2012
Incentive Plan will vest and become exercisable as follows:
25%
vest
24
months after the grant date, an additional
25%
vest
36
months after the grant date, and the remaining
50%
vest
48
months after the grant date. Options granted to non-employee directors under the
2012
Incentive Plan will vest and become exercisable
one
year after the grant date. Vested stock-based awards
may
be exercised for up to
ten
years from the date of grant. The shares of common stock will be issued upon exercise of options or SARs from the Company’s authorized share capital.
 
The
2012
Incentive Plan empowers our Board of Directors, in its discretion, to amend the
2012
Incentive Plan in certain respects. Consistent with its authority to amend the Incentive Plan, in
February
2014
the Board adopted and approved certain amendments to the
2012
Incentive Plan. The key amendments are as follows:
 
Increase of per grant limit: Section
15(a)
of the
2012
Incentive Plan was amended to allow the grant of up to
400,000
shares of our common stock with respect to the initial grant of an equity award to newly hired executive officers in any calendar year. This amendment was adopted by our stockholders on
May
31,
2014;
and
 
Acceleration of vesting: Section
15(l)
of the
2012
Incentive Plan was amended to clarify our ability to provide in the applicable award agreement that part and/or all of the award will be accelerated upon the occurrence of certain pre-determined events and/or conditions, such as a "change in control" (as defined in the
2012
Incentive Plan, as amended).
 
On
February
11,
2014,
the Company granted its Chief Financial Officer options to purchase
32,500
shares of common stock
under the
2012
Incentive Plan. The exercise price of each option is
$24.57,
which represented the fair market value of the Company’s common stock on the grant date. Such options will expire
five
years from the date of grant and will vest in equal annual installments over a period of
three
years from the grant date, subject to acceleration upon a change of control.
 
The fair value of each stock option on the grant date was
$5.78.
The Company calculated the fair value of each stock option on the date of grant using the Black-Scholes valuation model based on the following assumptions:
 
Risk-free interest rates
    
0.81
 %
Expected life (in years)
    
3.375
  
Dividend yield
    
0.80
 %
Expected volatility
    
33.50
 %
Forfeiture rate
    
0.00
 %
 
On
April
2,
2014,
the Company granted its newly appointed Chief Executive Officer options to purchase up to an aggregate of
400,000
shares of common stock under the
2012
Incentive Plan. The exercise price of each option is
$29.52
per share, which represented the fair market value of the Company
’s common stock on the date of the grant. Options to purchase
300,000
shares of common stock will expire
six
years following the date of grant and will vest in equal annual installments over
four
years from the grant date, subject to acceleration in the event of a change of control. The remaining options to purchase
100,000
shares of common stock will vest on
March
31,
2021,
subject to acceleration associated with a change of control, and will expire
seven
and a half years from the date of grant.
 
The fair value of each option on the grant date was
$12.88
for grant of options to purchase
300,000
shares of common stock, and
$8.33
for the grant of options to purchase
100,000
shares of common stock. The Company calculated the fair value of each stock option on the date of grant using the Black-Scholes valuation model based on the following assumptions:
 
   
Grant of options to
purchase 300,000
shares of common
stock
    
Grant of options to
purchase 100,000
shares of common
stock
  
Risk-free interest rates
    
2.36
 %    
1.64
 %
Expected life (in years)
    
7.25
      
4.75
  
Dividend yield
    
0.90
 %    
0.90
 %
Expected volatility
    
42.80
 %    
33.10
 %
 
 
On
November
5,
2014,
the Company granted its directors options to purchase
52,500
shares of common stock under the
2012
Incentive Plan. The exercise price of each option is
$28.23,
which represented the fair market value of the Company
’s common stock on the grant date. Such options will expire
seven
years from the date of grant and will fully vest
one
year from the grant date.
 
The fair value of each stock option on the grant date was
$7.01.
The Company calculated the fair value of each stock option on the date of grant using the Black-Scholes valuation model based on the following assumptions:
 
Risk-free interest rates
    
1.30
 %
Expected life (in years)
    
4.0
  
Dividend yield
    
0.70
 %
Expected volatility
    
32.40
 %
Forfeiture rate
    
0.00
 %
 
On
November
3,
2015,
the Company granted its directors options to purchase
45,000
shares of common stock under the
2012
Incentive Plan. The exercise price of each option is
$38.24,
which represented the fair market value of the Company
’s common stock on the grant date. Such options will expire
seven
years from the date of grant and will fully vest
one
year from the grant date.
 
The fair value of each stock option on the grant date was
$8.68.
The Company calculated the fair value of each stock option on the date of grant using the Black-Scholes valuation model based on the following assumptions:
 
Risk-free interest rates
    
1.35
 %
Expected life (in years)
    
4.0
  
Dividend yield
    
0.70
 %
Expected volatility
    
29.20
 %
Forfeiture rate
    
0.00
 %
 
On
June
13,
2016,
the Company granted its employees, in aggregated
1,080,000
SAR under the Company
’s
2012
Incentive Plan. The exercise price of each SAR is
$42.87,
which represented the fair market value of the Company’s common stock on the grant date. Such SARs will expire
six
years from the date of the grant and will vest over
4
years as follows:
50%
after
two
years; an additional
25%
after
three
years and the remaining
25%
after
four
years from the grant date.
 
The fair value of each SAR on the grant date was
$11.98
for senior management and
$11.42
for other employees. The Company calculated the fair value of each SAR on the grant date using the Exercise Multiple-Based Lattice SAR-Pricing model based on the following assumptions:
 
Risk-free interest rate
    
1.29
%
Expected life (in years)
    
6
  
Dividend yield
    
1.14
  
Expected volatility
    
30.7
%
Forfeiture rate:
        
Senior management
    
0.0
%
Other employees
    
10.5
%
Sub-Optimal Exercise Factor:
        
Senior management
    
2.5
  
Other employees
    
2.0
  
 
 
On
November
8,
2016,
the Company granted its directors, in aggregated
60,000
SAR
’s under the Company’s
2012
Incentive Plan. The exercise price of each SAR is
$47.46,
which represented the fair market value of the Company’s common stock on the grant date. Such SARs will expire
seven
years from the date of the grant and will vest at the end of the
first
year from the grant date.
 
The fair value of each SAR on the grant date was
$14.51.
The Company calculated the fair value of each SAR on the grant date using the Exercise Multiple-Based Lattice SAR-Pricing model based on the following assumptions:
 
Risk-free interest rate
    
1.65
%
Expected life (in years)
    
7
  
Dividend yield
    
1.1
  
Expected volatility
    
30.6
%
Forfeiture rate:
    
0.0
%
Sub-Optimal Exercise Factor:
    
2.5
  
 
 
 
   
Year Ended December 31,
 
   
2016
    
2015
    
2014
  
   
Shares
(in thousands)
    
Weighted Average Exercise Price
    
Shares
(in thousands)
    
Weighted Average Exercise Price
    
Shares
(in thousands)
    
Weighted Average Exercise Price
  
Outstanding at beginning of year
    
2,438
     $
25.38
      
4,477
     $
27.48
      
4,710
     $
28.23
  
Granted, at fair value:
                                                
Stock Options
    
1,155
      
43.01
      
45
      
38.24
      
485
      
29.05
  
SARs*
    
—
      
—
      
—
      
—
      
—
      
—
  
Exercised
    
(967
 )    
25.33
      
(1,589
 )    
26.77
      
(243
 )    
24.10
  
Forfeited
    
(57
 )    
24.12
      
(125
 )    
27.33
      
(116
 )    
23.20
  
Expired
    
(4
 )    
26.84
      
(370
 )    
45.78
      
(359
 )    
42.70
  
Outstanding at end of year
    
2,565
      
33.36
      
2,438
      
25.38
      
4,477
      
27.48
  
Options and SARs exercisable at end of year
    
557
      
25.22
      
858
      
26.75
      
2,106
      
31.25
  
Weighted-average fair value of options and SARs granted during the year
    
 
     $
11.61
      
 
     $
8.68
      
 
     $
9.00
  
__________
*
Upon exercise, SARs entitle the recipient to receive shares of common stock equal to the increase in value of the award between the grant date and the exercise date.
 
As of
December
 
31,
2016,
1,058,150
 shares of the Company’s common stock are available for future grants under the
2012
Incentive Plan. No shares of the Company’s common stock are available for future grants under the
2004
Incentive Plan as of such date.
 
The following table summarizes information about stock-based awards outstanding at
December
 
31,
2016
(shares in thousands):
 
 
 
 
  
Options Outstanding
   
Options Exercisable
  
Exercise Price
    
Number of
Stock-based
Awards
Outstanding
    
Weighted
Average
Remaining
Contractual
Life in Years
    
Aggregate
Intrinsic Value
   
Number of
Stock-based
Awards
Exercisable
    
Weighted
Average
Remaining
Contractual
Life in Years
    
Aggregate
Intrinsic Value
 
$ 18.56      
15
      
2.8
     $
526
      
15
      
2.8
     $
526
  
  19.69      
15
      
2.6
      
509
      
15
      
2.6
      
509
  
  20.13      
108
      
2.3
      
3,608
      
108
      
2.3
      
3,608
  
  20.54      
53
      
2.3
      
1,761
      
28
      
2.3
      
934
  
  23.34      
635
      
2.4
      
19,226
      
140
      
2.4
      
4,247
  
  24.57      
9
      
2.1
      
269
      
1
      
2.1
      
33
  
  25.65      
68
      
1.3
      
1,905
      
68
      
1.3
      
1,905
  
  26.70      
15
      
3.8
      
404
      
15
      
3.8
      
404
  
  28.23      
30
      
4.8
      
762
      
30
      
4.8
      
762
  
  29.52      
400
      
3.6
      
9,640
      
75
      
3.6
      
1,807
  
  29.95      
17
      
0.3
      
400
      
17
      
0.3
      
400
  
  35.15      
15
      
6.1
      
277
      
-
      
-
      
-
  
  38.24      
45
      
5.8
      
692
      
45
      
5.8
      
692
  
  42.87      
1,080
      
5.5
      
11,610
      
-
      
-
      
-
  
  47.46      
60
      
6.9
      
370
      
-
      
-
      
-
  
                                                     
                                                     
         
2,565
      
4.1
     $
51,959
      
557
      
2.7
     $
15,827
  
 
The following table summarizes information about stock-based awards outstanding at
December
 
31,
2015
(shares in thousands):
 
 
 
 
  
Options Outstanding
   
Options Exercisable
  
Exercise Price
    
Number of
Stock-based
Awards
Outstanding
    
Weighted
Average
Remaining
Contractual
Life in Years
    
Aggregate
Intrinsic Value
   
Number of
Stock-based
Awards
Exercisable
    
Weighted
Average
Remaining
Contractual
Life in Years
    
Aggregate
Intrinsic Value
 
$ 18.56      
15
      
3.8
     $
269
      
15
      
3.8
     $
269
  
  19.69      
15
      
3.6
      
252
      
15
      
3.6
      
252
  
  20.13      
326
      
3.3
      
5,327
      
69
      
3.3
      
1,135
  
  20.54      
100
      
3.3
      
1,593
      
50
      
3.3
      
797
  
  23.34      
938
      
3.4
      
12,315
      
126
      
3.4
      
1,655
  
  24.57      
33
      
3.1
      
387
      
16
      
3.1
      
193
  
  25.65      
135
      
2.3
      
1,462
      
135
      
2.3
      
1,462
  
  26.70      
45
      
4.8
      
440
      
45
      
4.8
      
440
  
  26.84      
64
      
0.2
      
618
      
64
      
0.2
      
618
  
  28.19      
15
      
1.8
      
124
      
15
      
1.8
      
124
  
  28.23      
45
      
5.8
      
371
      
45
      
5.8
      
371
  
  29.21      
3
      
1.3
      
22
      
3
      
1.3
      
22
  
  29.52      
400
      
4.6
      
2,780
      
-
      
-
      
-
  
  29.95      
148
      
1.3
      
963
      
148
      
1.3
      
963
  
  34.13      
96
      
0.3
      
225
      
96
      
0.3
      
225
  
  38.24      
15
      
6.8
      
-
      
-
      
-
      
-
  
  38.50      
15
      
0.8
      
-
      
15
      
0.8
      
-
  
                                                     
                                                     
         
2,438
      
3.3
     $
27,148
      
857
      
2.4
     $
8,526
  
 
The aggregate intrinsic value in the above tables represents the total pretax intrinsic value, based on the Company
’s stock price of
$53.62
and
$36.47
as of
December
31,
2016
and
2015,
respectively, which would have potentially been received by the stock-based award holders had all stock-based award holders exercised their stock-based award as of those dates. The total number of in-the-money stock-based awards exercisable as of
December
31,
2016
and
2015
was
557,350
and
842,911,
respectively.
 
The total pretax intrinsic value of options exercised during the year ended
December
31,
2016
and
2015
was $
18.0
million and
$14.1
million, respectively, based on the average stock price of
$43.99
and
$35.64
during the years ended
December
31,
2016
and
2015,
respectively.
v3.6.0.2
Note 17 - Power Purchase Agreements
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Leases of Lessor Disclosure [Text Block]
NOTE
17
— POWER PURCHASE AGREEMENTS
 
Substantially all of the Company
’s electricity revenues are recognized pursuant to PPAs in the U.S. and in various foreign countries, including Kenya and Guatemala. These PPAs generally provide for the payment of energy payments or both energy and capacity payments through their respective terms which expire in varying periods from
2017
to
2036.
Generally, capacity payments are calculated based on the amount of time that the power plants are available to generate electricity. The energy payments are calculated based on the amount of electrical energy delivered at a designated delivery point. The price terms are customary in the industry and include, among others, a fixed price, short-run avoided cost (“SRAC”) (the incremental cost that the power purchaser avoids by not having to generate such electrical energy itself or purchase it from others), and a fixed price with an escalation clause that includes the value for environmental attributes, known as renewable energy credits. Certain of the PPAs provide for bonus payments in the event that the Company is able to exceed certain target levels and potential payments by the Company if it fails to meet minimum target levels. One PPA gives the power purchaser or its designee the right of
first
refusal to acquire the geothermal power plants at fair market value. Upon satisfaction of certain conditions specified in this PPA, and subject to receipt of requisite approvals and negotiations between the parties, the Company has the right to demand that the power purchaser acquire the power plant at fair market value. The Company’s subsidiaries in Guatemala sell power at an agreed upon price subject to terms of a “take or pay” PPA.
 
Pursuant to the terms of certain of the PPAs, the Company
may
be required to make payments to the relevant power purchaser under certain conditions, such as shortfall in delivery of renewable energy and energy credits, and not meeting certain performance threshold requirements, as defined in the relevant PPA. The amount of payment required is dependent upon the level of shortfall in delivery or performance requirements and is recorded in the period the shortfall occurs. In addition, if the Company does not meet certain minimum performance requirements, the capacity of the power plant
may
be permanently reduced
.
 
As discussed in Note
1,
the Company assessed all PPAs agreed to, modified or acquired in business combinations on or after
July
1,
2003,
and evaluated whether such PPAs contained a lease element requiring lease accounting. Future lease revenues under PPAs which contain a lease element as of
December
31,
2016
including the PPAs that provide for minimum production or performance guarantees are accounted for as contingent lease revenues as they are production-based payments and contingent on generation levels that are impacted by climatic variables that are inherently uncertain including geological conditions and ambient temperature.
 
The PPAs considered to be leases were also assessed for inclusion of embedded derivatives, which required that they be separately accounted for at fair value. However, none of such PPAs were determined to include embedded derivatives.
v3.6.0.2
Note 18 - Interest Expense, Net
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Interest Expense Disclosure [Text Block]
NOTE
 
18
 — INTEREST EXPENSE, NET
The components of interest expense are as follows:
 
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Interest related to sale of tax benefits
   $
9,349
     $
9,620
     $
12,413
  
Interest expense
    
61,327
      
67,032
      
75,447
  
Less
— amount capitalized
    
(3,287
 )    
(4,075
 )    
(3,206
 )
    $
67,389
     $
72,577
     $
84,654
  
v3.6.0.2
Note 19 - Income Taxes
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
NOTE
 
19
 — INCOME TAXES
U.S. and foreign components of income (loss) from continuing operations, before income taxes and equity in income (losses) of investees consisted of:
 
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
U.S
   $
(7,109
 )   $
(236
 )   $
(2,623
 )
Non-U.S. (foreign)
    
148,197
      
113,835
      
88,459
  
    $
141,088
     $
113,599
     $
85,836
  
 
The components of the provision (benefit) for income taxes, net are as follows:
 
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Current:
                        
Federal
   $
—
     $
51
     $
—
  
State
    
(276
 )    
252
      
490
  
Foreign
    
14,040
      
19,175
      
13,983
  
    $
13,764
     $
19,478
     $
14,473
  
                         
Deferred:
                        
Foreign
    
18,073
      
(34,736
 )    
13,135
  
     
18,073
      
(34,736
 )    
13,135
  
    $
31,837
     $
(15,258
 )   $
27,608
  
 
The significant components of the deferred income tax expense (benefit) are as follows:
 
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Other deferred tax expense (exclusive of the effect of other components listed below)
   $
(1,105
 )   $
541
     $
(18,424
 )
Usage (benefit) of operating loss carryforwards - U.S.
    
(14,072
 )    
(30,596
 )    
7,764
  
Change in valuation allowance
    
16,411
      
(14,324
 )    
3,526
  
Change in foreign valuation allowance
    
—
      
(49,701
 )    
—
  
Change in foreign income tax
    
18,073
      
14,965
      
13,135
  
Change in lease transaction
    
—
      
(452
 )    
2,136
  
Change in tax monetization transaction
    
48,000
      
16,386
      
5,184
  
Change in depreciation
    
(55,462
 )    
28,370
      
9,431
  
Change in intangible drilling costs
    
10,227
      
10,335
      
(9,706
 )
Change in production tax credits and alternative minimum tax credit
    
(11,659
 )    
610
      
89
  
Basis difference in partnership interests
    
7,660
      
(10,870
 )    
—
  
    $
18,073
     $
(34,736
 )   $
13,135
  
 
Reconciliation of the U.S.
 federal statutory tax rate to the Company’s effective income tax rate is as follows:
 
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
U.S. federal statutory tax rate
    
35.0
 %    
35.0
 %    
35.0
 %
Valuation allowance - U.S.
    
11.1
      
(1.4
 )    
(1.7
 )
Valuation allowance - foreign
    
-
      
(43.8
 )    
 
  
Tax monetization
    
-
      
-
      
2.5
  
State income tax, net of federal benefit
    
(0.2
 )    
0.6
      
(0.7
 )
Effect of foreign income tax, net
    
(14.1
 )    
(5.1
 )    
(4.9
 )
Production tax credits
    
(8.3
 )    
(0.1
 )    
0.9
  
Subpart F income
    
0.3
      
1.3
      
1.4
  
Depletion
    
-
      
-
      
(1.1
 )
Other, net
    
(1.3
 )    
-
      
0.8
  
Effective tax rate
    
22.5
 %    
(13.5)
 %    
32.2
 %
 
The net deferred tax assets and liabilities consist of the following:
 
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
                 
Deferred tax assets (liabilities):
                
Net foreign deferred taxes, primarily depreciation
   $
(35,382
 )   $
(32,654
 )
Depreciation
    
148,419
      
87,943
  
Intangible drilling costs
    
(112,762
 )    
(102,013
 )
Net capital loss carryforward - U.S.
    
117,924
      
103,850
  
Tax monetization transaction
    
(105,789
 )    
(80,478
 )
Investment tax credits
    
1,341
      
1,341
  
Production tax credits
    
82,451
      
70,792
  
Stock options amortization
    
3,241
      
3,467
  
Basis difference in partnership interest    
(24,462
 )    
(16,801
 )
Accrued liabilities and other
    
(752
 )    
2,435
  
                 
     
74,229
      
37,882
  
Less - valuation allowance
    
(109,611
 )    
(70,536
 )
                 
Total
   $
(35,382
 )   $
(32,654
 )
 
The following table presents a reconciliation of the beginning and ending valuation allowance:
 
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Balance at beginning of the year
   $
70,536
     $
111,280
     $
114,806
  
Additions to (release of) valuation allowance
    
39,075
      
(40,744
 )    
(3,526
 )
Balance at end of the year
   $
109,611
     $
70,536
     $
111,280
  
 
At
December
31,
2016,
the Company had U.S. federal net operating loss (“NOL”) carryforwards of approximately
$2
99.6
million and state NOL carryforwards of approximately
$244.7
million, available to reduce future taxable income, which expire between
2029
and
2036
for federal NOLs and between
2018
and
2036
for state NOLs. The investment tax credits (“ITCs”) in the amount of
$1.3
million at
December
31,
2016
are available for a
20
-year period and expire between
2022
and
2024.
The Production Tax Credits (“PTCs”) in the amount of
$82.5
million at
December
31,
2016
are available for a
20
-year period and expire between
2026
and
2036.
 
Realization of the deferred tax assets and tax credits is dependent on generating sufficient taxable income in appropriate jurisdictions prior to expiration of the NOL carryforwards and tax credits.
Based upon available evidence of the Company’s ability to generate additional taxable income in the future and historical losses in prior years, a valuation allowance in the amount of
$109.6
 million and
$70.5
million is recorded against the U.S. deferred tax assets as of
December
31,
2016
and
2015,
respectively, as it is more likely than not that the deferred tax assets will not be realized. 
The increase in valuation allowance is due to increases in investment tax credits and step-up in basis relating to the tax monetization transaction.
 
As more fully described in Note
3,
On
November
23,
2016,
the Company closed a follow-on sale of
36.75%
of equity interest in the
second
phase of the Don A. Campbell power plant, as a result of this sale, the Company will recognize
$21.4
million of taxable income in
2016.
Following the closing, DACII was contributed to the existing ORPD, as agreed upon under the ORPD agreement with Northleaf.
 
On
December
16,
2016,
upon the formation of Opal and Orleaf, Orleaf
distributed
$43.1
million to Ormat and
$19
million to ORPD. Upon this distribution, Ormat will
recognize
taxable gain of
$4.8
million.
 
In
November
2015,
the FASB issued Accounting Standards Update
2015
-
17,
Balance Sheet Classification of Deferred Taxes (ASU
2015
-
17),
effective in fiscal years beginning after
December
15,
2016.
The new guidance requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. The Company has elected early adoption of the aforementioned Update in
2015.
The Company has adopted the Update prospectively. As such, the deferred tax assets and liabilities in
2016
and
2015
are being presented as noncurrent on the balance sheet.
 
In
March
2016,
the FASB issued Accounting Standards Update
2016
-
09,
Improvements to Employee Share-Based Payment Accounting (ASU
2016
-
09),
effective in fiscal years beginning after
December
15,
2016
for public companies. In general, the new guidance
allows entities to record all excess tax benefits and tax deficiencies as income tax benefit or expense in the income statement. The Company has not elected an early adoption of the aforementioned Update.
 
In
October
2016,
the FASB issued Accounting Standards Update
2016
-
16,
Income Taxes on Intercompany Transfers (ASU
2016
-
16),
effective in fiscal years beginning after
December
15,
2017
for public companies. In general, the ne
w guidance provides that the seller and buyer will immediately recognize the current and deferred income tax consequences of the intercompany asset transfer. The Company has not elected an early adoption of the aforementioned Update.
 
The following table presents the deferred taxes on the balance sheets as of the dates indicated:
 
 
   
Year Ended December 31,
  
                   
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Current deferred tax assets
   $
—
     $
—
     $
251
  
Current deferred tax liabilities
    
—
      
—
      
(975
 )
Non-current deferred tax liabilities
    
(35,382
 )    
(32,654
 )    
(66,219
 )
                         
    $
(35,382
 )   $
(32,654
 )   $
(66,943
 )
 
The total amount of undistributed earnings of foreign subsidiaries for income tax purposes was approximately $
367
million at
December
31,
2016.
It is the Company’s intention to reinvest undistributed earnings of its foreign subsidiaries and thereby indefinitely postpone their remittance. Accordingly, no provision has been made for foreign withholding taxes or U.S. income taxes which
may
become payable if undistributed earnings of foreign subsidiaries were paid as dividends to the Company. The additional taxes on that portion of undistributed earnings which is available for dividends are not practicably determinable.
 
The Company believes that based on our plans to increase the operations outside of the U.S., the cash generated from our operations outside of the U.S. will be reinvested outside of the U.S. and, accordingly, we do not currently plan to repatriate the funds we have designated as being permanently invested outside the U.S. If we change our plans, we
may
be required to accrue and pay U.S. taxes to repatriate these funds.
 
 
Uncertain tax positions
 
We are subject to income taxes in the U.S. (federal and state) and numerous foreign jurisdictions. Significant judgment is required in evaluating our tax positions and determining our provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. We establish reserves for tax-related uncertainties based on estimates of whether, and the extent to which additional taxes will be due. These reserves are established when we believe that certain positions might be challenged despite our belief that our tax return positions are fully supportable. We adjust these reserves in light of changing facts and circumstances, such as the outcome of tax audits. The provision for income taxes includes the impact of reserve positions and changes to reserves that are considered probable.
 
At
December
31,
2016
and
2015,
there are
$5.7
million and
$10.4
million of unrecognized tax benefits that if recognized would affect the annual effective tax rate. Interest and penalties assessed by taxing authorities on an underpayment of income taxes are included as a component of income tax provision in the consolidated statements of operations and comprehensive income
.
 
A reconciliation of our unrecognized tax benefits is as follows:
 
   
Year Ended December 31,
  
                         
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Balance at beginning of year
   $
10,385
     $
7,511
     $
4,950
  
Additions based on tax positions taken in prior years
    
675
      
(198
 )    
230
  
Additions based on tax positions taken in the current year
    
1,059
      
4,386
      
2,980
  
Reduction based on tax positions taken in prior years
    
(6,381
 )    
(1,314
 )    
(649
 )
Balance at end of year
   $
5,738
     $
10,385
     $
7,511
  
 
The Company and its U.S. subsidiaries file consolidated income tax returns for federal and state purposes. As of
December
31,
2016,
the Company has not been subject to U.S. federal or state income tax examinations. The Company remains open to examination by the Internal Revenue Service for the years
2000
-
2016
and by local state jurisdictions for the years
2002
-
2016
.
These examinations
may
lead to ordinary course adjustments or proposed adjustments to our taxes or our net operating losses with respect to years under examination as well as subsequent periods.
 
The reduction of
$6.4
million,
$1.3
million and
$0.6
million in
2016,
2015
and
2014,
respectively, was due to the statute of limitations expiration on certain tax positions as well as Ormat System's tax settlement as detailed below. 
 
The Company
’s foreign subsidiaries remain open to examination by the local income tax authorities in the following countries for the years indicated:
 
Israel
    
2015
—
2016
  
Kenya
    
2001
—
2016
  
Guatemala
    
2010
—
2016
  
Philippines
    
2010
—
2016
  
New Zealand
    
2011
—
2016
  
 
Management believes that the liability for unrecognized tax benefits is adequate for all open tax years based on its assessment of many factors, including among others, past experience and interpretations of local income tax regulations. This assessment relies on estimates and assumptions and
may
involve a series of complex judgments about future events. As a result, it is possible that federal, state and foreign tax examinations will result in assessments in future periods. To the extent any such assessments occur, the Company will adjust its liability for unrecognized tax benefits
.
 
Tax benefits in the U.S
.
 
The U.S. government encourages production of electricity from geothermal resources through certain tax subsidies under the ARRA which has been extended by the Consolidated Appropriations Act,
2016
(CAA) until
December
31,
2019.
The Company is permitted to claim
30%
of the eligible cost of each new geothermal power plant in the United States, which is placed in service before
January
1,
2017,
as an ITC against its federal income taxes. After this date, the ITC is reduced to
10%.
Alternatively, the Company is permitted to claim a PTC, which in
2016
is
2.3
cents per kWh and which
may
be adjusted annually for inflation. The PTC
may
be claimed for
ten
years on the electricity output of new geothermal power plants that have commenced construction by
December
31,
2016.
The owner of the power plant must choose between the PTC and the
30%
ITC described above. In either case, under current tax rules, any unused tax credit has a
1
-year carry back and a
20
-year carry forward. Whether the Company claims the PTC or the ITC, it is also permitted to depreciate most of the plant for tax purposes over
five
years on an accelerated basis, meaning that more of the cost
may
be deducted in the
first
few years than during the remainder of the depreciation period. If the Company claims the ITC, the Company
’s “tax base” in the plant that it can recover through depreciation must be reduced by half of the ITC. If the Company claims the PTC, there is no reduction in the tax basis for depreciation. Companies that place qualifying renewable energy facilities in service, during
2009,
2010
or
2011,
or that begin construction of qualifying renewable energy facilities during
2012,
2013,
2014
or
2015
and place them in service by
December
31,
2016,
may
choose to apply for a cash grant from the U.S. Department of the Treasury (“U.S. Treasury”) in an amount equal to the ITC. Likewise, the tax base for depreciation will be reduced by
50%
of the cash grant received. Under the ARRA revised by the CAA, the U.S. Treasury is instructed to pay the cash grant within
60
governmental business days of the application or the date on which the qualifying facility is placed in service.
 
 
Income taxes related to foreign operations
 
Guatemala
— The enacted tax rate is
25%.
Orzunil, a wholly owned subsidiary, was granted a benefit under a law which promotes development of renewable power sources. The law allows Orzunil to reduce the investment made in its geothermal power plant from income tax payable, which reduces the effective tax rate to
zero.
Ortitlan, another wholly owned subsidiary, was granted a tax exemption for a period of
ten
years ending
August
2017.
The effect of the tax exemption in the years ended
December
31,
2016,
2015,
and
2014
is
$3.3
million,
$3.6
million, and
$1.9
million, respectively
($0.07,
$0.08,
and
$0.04
per share of common stock, respectively).
 
Israel
— The Company’s operations in Israel through its wholly owned Israeli subsidiary, Ormat Systems Ltd. (“Ormat Systems”), are taxed at the regular corporate tax rate of
25%
in
2012,
25%
in
2013,
 
26.5%
in
2014
and
2015
and
25%
in
2016
and thereafter. Ormat Systems received “Benefited Enterprise” status under Israel’s Law for Encouragement of Capital Investments,
1959
(the “Investment Law”), with respect to
two
of its investment programs. As a Benefited Enterprise, Ormat Systems was exempt from Israeli income taxes with respect to income derived from the
first
benefited investment for a period of
two
years that started in
2004,
and thereafter such income was subject to reduced Israeli income tax rates which will not exceed
25%
for an additional
five
years until
2010.
Ormat Systems was also exempt from Israeli income taxes with respect to income derived from the
second
benefited investment for a period of
two
years that started in
2007,
and thereafter such income is subject to reduced Israeli income tax rates which will not exceed
25%
for an additional
five
years until
2013.
These benefits are subject to certain conditions, including among other things, that all transactions between Ormat Systems and its affiliates are at arm’s length, and that the management and control of Ormat Systems will be from Israel during the whole period of the tax benefits. A change in control should be reported to the Israel Tax Authority in order to maintain the tax benefits. In
January
2011,
new legislation amending the Investment Law was enacted. Under the new legislation, a uniform rate of corporate tax would apply to all qualified income of certain industrial companies, as opposed to the current law’s incentives that are limited to income from a “Benefited Enterprise” during their benefits period. According to the amendment, the uniform tax rate applicable to the zone where the production facilities of Ormat Systems are located would be
15%
in
2011
and
2012,
12.5%
in
2013,
and
16%
in
2014
and thereafter. Under the transitory provisions of the new legislation, Ormat Systems had the option either to irrevocably comply with the new law while waiving benefits provided under the previous law or to continue to comply with the previous law during a transition period with the option to move from the previous law to the new law at any stage.
Ormat Systems decided to irrevocably comply with the new law starting in
2011.
 
In
November
2012,
new legislation amending the Investment Law was enacted. Under the new legislation, companies that have retained earnings as of
December
31,
2011
from Benefited Enterprises
may
elect by
November
11,
2013
to pay a reduced corporate tax rate as set forth in the new legislation on such income and distribute a dividend from such income without being required to pay additional corporate tax with respect to such income.
  Ormat Systems decided not to make such election.
 
Ormat Systems tax assessment for fiscal years
2010
-
2014
was finalized and settled in
January
2017.
The settlement resulted in no impact to income statement due to release of the related uncertain tax position liability.
 
Kenya
- The Company’s operations in Kenya are taxed at the rate of
37.5%.
On
September
11,
2015,
Kenya's Income Tax Act was amended pursuant to certain provisions of the recently adopted Finance Act,
2015.
Among other matters, these amendments retain the enhanced investment deduction of
150%
under Section
17B
of the Income Tax Act, extend the period for deduction of tax losses from
5
years to
10
years under Sections
15(4)
and
15(5)
of the Income Tax Act, and amend the effective date from
January
1,
2016
to
January
1,
2015
under Sections
15(4)
and
15(5)
of the Income Tax Act. Previously, the Company had a valuation allowance for the additional
50%
investment deduction reducing its deferred tax asset in Kenya as the utilization of the related tax losses was not probable within the original
five
year carryforward period. As a result of the change in legislation and the expected continued profitability during the extended carryforward period, the Company expects that it will be able to fully utilize the carryforward tax losses within the
ten
year period and as such released the valuation allowance in Kenya resulting in a
$49.4
million of tax benefits in the year ended
December
31,
2015.
 
During the
fourth
quarter of
2016,
the Company determined that its income statement tax provision and deferred tax liabilities in Kenya in prior periods were overstated by approximately
$4.7
million as a result of errors in the determination of the exchange rate impact used in the calculation of taxable income at its Kenya operations. The Company recorded an adjustment to reduce income tax expense and deferred tax liabilities by
$4.7
million in the
fourth
quarter of
2016
to correct this matter. 
 
As previously reported by the Company, the Kenya Revenue Authority (“KRA”) conducted an audit related to the Company
’s operations in Kenya for fiscal years
2012
-
2013.
In
January
2017,
KRA concluded its audit for the subject period and issued a demand letter to the Company for additional tax payments of approximately
$16.1
million, including interest and penalties. KRA’s assessment, among other points, rejected the Company's income tax deduction of
150%
of its investment in geothermal well drilling during the relevant period, on the basis that such work falls under mining activities (and not geothermal activities) which have a different allowable deduction under the Kenya Income Tax Act. The KRA audit and assessment is not final and is subject to objection by the Company. The Company's operations in Kenya utilize a geothermal resource license from the Ministry of Energy and Petroleum. The Company does not conduct and is not involved in any mining activity under applicable Kenyan law. Therefore, the Company believes that its original tax position was and remains correct under Kenyan tax law and regulations, and has submitted a notice of objection to the KRA which it intends to pursue vigorously. If the KRA position prevails and is applied to subsequent periods, the Company's deferred tax asset of
$49.4
million recorded in
2015
may
be impacted. At present, the Company has recorded a provision based on its assessment of its reasonably expected potential exposure.
 
Other significant foreign countries
— The Company’s operations in New Zealand are taxed at the rate of
28%
in
2015,
2014
and
2013.
v3.6.0.2
Note 20 - Business Segments
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
NOTE
20
— BUSINESS SEGMENTS
 
The Company has
two
reporting segments: the Electricity and Product segments. These segments are managed and reported separately as each offers different products and serves different markets. The Electricity segment is engaged in the sale of electricity from the Company
’s power plants pursuant to PPAs. The Product segment is engaged in the manufacture, including design and development, of turbines and power units for the supply of electrical energy and in the associated construction of power plants utilizing the power units manufactured by the Company to supply energy from geothermal fields and other alternative energy sources. Transfer prices between the operating segments were determined on current market values or cost plus markup of the seller’s business segment.
 
Summarized financial information concerning the Company
’s reportable segments is shown in the following tables:
 
   
Electricity
    
Product
    
Consolidated
 
   
(Dollars in thousands)
  
Year Ended December 31, 2016:
  
 
 
 
  
 
 
 
  
 
 
 
Net revenues from external customers
   $
436,292
     $
226,299
     $
662,591
  
Intersegment revenues
    
—
      
56,075
      
56,075
  
Depreciation and amortization expense
    
102,698
      
3,279
      
105,977
  
Operating income
    
126,828
      
75,054
      
201,882
  
Segment assets at period end
    
2,204,444
      
257,125
      
2,461,569
  
Expenditures for long-lived assets
    
147,211
      
4,719
      
151,930
  
                         
Year Ended December 31, 2015:
  
 
 
 
  
 
 
 
  
 
 
 
Net revenues from external customers
   $
375,920
     $
218,724
     $
594,644
  
Intersegment revenues
    
—
      
48,559
      
48,559
  
Depreciation and amortization expense
    
103,892
      
3,314
      
107,206
  
Operating income
    
99,345
      
64,716
      
164,061
  
Segment assets at period end
    
2,044,346
      
229,636
      
2,273,982
  
Expenditures for long-lived assets
    
149,666
      
2,784
      
152,450
  
                         
Year Ended December 31, 2014 :
  
 
 
 
  
 
 
 
  
 
 
 
Net revenues from external customers
   $
382,301
     $
177,223
     $
559,524
  
Intersegment revenues
    
—
      
44,718
      
44,718
  
Depreciation and amortization expense
    
97,826
      
2,973
      
100,799
  
Operating income
    
90,401
      
53,089
      
143,490
  
Segment assets at period end 
    
1,963,486
      
158,070
      
2,121,556
  
Expenditures for long-lived assets
    
155,323
      
3,458
      
158,781
  
 
 
Reconciling information between reportable segments and the Company
’s consolidated totals is shown in the following table:
 
   
Year Ended December 31,
  
                         
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Revenues:
                        
Total segment revenues
   $
662,591
     $
594,644
     $
559,524
  
Intersegment revenues
    
56,075
      
48,559
      
44,718
  
Elimination of intersegment revenues
    
(56,075
 )    
(48,559
 )    
(44,718
 )
Total consolidated revenues
   $
662,591
     $
594,644
     $
559,524
  
                         
Operating income:
                        
Operating income
   $
201,882
     $
164,061
     $
143,490
  
Interest income
    
971
      
297
      
312
  
Interest expense, net
    
(67,389
 )    
(72,577
 )    
(84,654
 )
Foreign currency translation and transaction losses
    
(5,534
 )    
(1,622
 )    
(5,839
 )
Income attributable to sale of equity interest
    
16,503
      
25,431
      
24,143
  
Gain from sale of property, plant and equipment
    
—
      
—
      
7,628
  
Other non-operating income, net
    
(5,345
 )    
(1,991
 )    
756
  
Total consolidated income before income taxes and equity in income of investees
   $
141,088
     $
113,599
     $
85,836
  
 
The Company sells electricity and products for power plants and others, mainly to the geographical areas according to location of the customers, as detailed below. The following tables present certain data by geographic area:
 
   
Year Ended December 31,
  
                   
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Revenues from external customers attributable to:
(1)
                        
United States
   $
307,025
     $
286,509
     $
293,710
  
Indonesia
    
100,856
      
93,191
      
38,174
  
Kenya
    
109,270
      
86,545
      
86,074
  
Turkey
    
46,270
      
57,356
      
86,340
  
Chile
    
58,032
      
34,478
      
—
  
Guatemala
    
30,086
      
27,897
      
28,439
  
Other foreign countries
    
11,052
      
8,668
      
26,787
  
Consolidated total
   $
662,591
     $
594,644
     $
559,524
  
 
____________
(1)
Revenues as reported in the geographic area in which they originate.
 
   
Year Ended December 31,
  
                   
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Long-lived assets (primarily power plants and related assets) located in:
                        
United States
   $
1,414,523
     $
1,374,465
     $
1,369,136
  
Kenya
    
327,157
      
375,257
      
330,200
  
Other foreign countries
    
199,559
      
107,407
      
90,735
  
                         
Consolidated total
   $
1,941,239
     $
1,857,129
     $
1,790,071
  
 
The following table presents revenues from major customers:
 
   
Year Ended December 31,
  
                                                 
   
2016
   
2015
   
2014
 
   
Revenues
    
%
    
Revenues
    
%
    
Revenues
    
%
  
   
(Dollars in thousands)
    
 
 
 
  
(Dollars in thousands)
    
 
 
 
  
(Dollars in thousands)
    
 
 
 
Southern California Edison
(1)
   $
33,552
      
5.1
     $
56,026
      
9.4
     $
75,803
      
13.5
  
Southern California Public Power Authority 
(1)
    
67,566
      
10.2
      
30,947
      
5.2
      
21,799
      
3.9
  
Sierra Pacific Power Company and Nevada Power Company
(1)(2)
    
127,226
      
19.2
      
115,876
      
19.5
      
92,580
      
16.5
  
Hyundai (3)
    
100,856
      
15.2
      
93,131
      
15.7
      
38,174
      
6.8
  
KPLC
(1)
    
109,270
      
16.5
      
86,545
      
14.6
      
86,074
      
15.4
  
________
(1)
Revenues reported in Electricity segment.
(2)
Subsidiaries of NV Energy, Inc.
(3)
Revenues related to the Sarulla project that are reported in Products segment.
v3.6.0.2
Note 21 - Transactions with Related Entities
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
NOTE
 
21
 — TRANSACTIONS WITH RELATED ENTITIES
 
Transactions between the Company and related entities, other than those disclosed elsewhere in these financial are summarized below:
 
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Property rental fee expense paid to the Parent
   $
—
     $
303
     $
1,821
  
Corporate financial, administrative, executive services, and research and development services provided to the Parent
   $
—
     $
148
     $
148
  
Services rendered by an indirect shareholder of the Parent
   $
—
     $
15
     $
51
  
 
The current asset due from the Parent at
December
31,
2015
in the amount of
$1,337,000
represented the net obligation resulting from ongoing operations and transactions with the Parent and is payable from available cash flow. Interest was computed on balances greater than
60
days at LIBOR plus
1%
(but not less than the change in the Israeli Consumer Price Index plus
4%)
compounded quarterly, and was accrued and paid to the Parent annually
.
The amount of such balance as of
December
31,
2015
is
$0.
 
Restructuring with the Parent
 
On
February
5,
2015,
the Tel Aviv Stock Exchange (“TASE”) approved the listing of the Company
’s common stock on the TASE. On
February
10,
2015,
the Company's common stock was successfully listed on the TASE. The TASE also confirmed that the Company will be included in the TA-
25
Index, which is the TASE flagship index that tracks the share prices of the
25
companies with the highest market capitalization on the exchange. The Company will remain subject to the rules and regulations of the New York Stock Exchange (“NYSE”) and of the U.S. Securities and Exchange Commission (“SEC”). Under the local regime for dual listing, the Company will use the same periodic reports, financial and other relevant disclosure information that The Company submits to the SEC and NYSE.
 
On
February
12,
2015,
the Company completed the share exchange transaction with its then-
Parent entity, Ormat Industries Ltd. ("OIL") following which, the Company became a noncontrolled public company and its public float increased from approximately
40%
to approximately
76%
of its total shares outstanding. Under the terms of the share exchange, OIL shareholders received
0.2592
shares in the Company for each share in OIL, or an aggregate of approximately
30.2
million shares, reflecting a net issuance of approximately
3.0
million shares (after deducting the
27.2
million shares that OIL held in the Company). Consequently, the number of total shares of the Company outstanding increased from approximately
45.5
million shares to approximately
48.5
million shares as of the closing of the share exchange.
 
In exchange, the Company also received
$15.4
million in cash,
$0.6
million in other assets and
$12.1
million in land and buildings and assumed
$0.5
million in liabilities. OIL's principal business purpose was to hold its interest in the Company and the transaction resulted in a transfer of non-material assets from OIL to the Company. Therefore, there was no change in the reporting entity as a result of the transaction and the Company recognized the transfer of net assets at their carrying value as presented in OIL's financial statements. Any activities of OIL will be accounted for prospectively by the Company
 
 
Corporate and administrative services agreement with the Parent
 
Ormat Systems and the Parent had agreements whereby Ormat Systems provided to the Parent, for a monthly fee of $
10,000
(adjusted annually, in part based on changes in the Israeli Consumer Price Index), certain corporate administrative services, including the services of executive officers. In addition, Ormat Systems agreed to provide the Parent with services of certain skilled engineers and other research and development employees at Ormat Systems’ cost plus
10%.
 
Lease agreements with the Parent
 
Ormat Systems had a rental agreement with the Parent entered into in
July
2004
for the sublease of office and manufacturing facilities in Yavne, Israel, for a monthly rent of
$52,000,
adjusted annually for changes in the Israeli Consumer Price Index, plus taxes and other costs to maintain the properties. The term of the rental agreement was for a period ending the earlier of: (i)
25
years from
July
1,
2004;
or (ii) the remaining periods of the underlying lease agreements between the Parent and the Israel Land Administration (which terminate between
2018
and
2047).
 
Effective
April
1,
2009,
Ormat Systems entered into an additional rental agreement with the Parent for the sublease of additional manufacturing facilities adjacent to the current manufacturing facilities in Yavne, Israel. The term of the additional rent agreement was to expire on the same day as the abovementioned lease agreement entered into in
July
2004.
Pursuant to the additional lease agreement, Ormat Systems paid a monthly rent of
$77,000,
adjusted annually for changes in the Israeli Consumer Price Index, plus tax and other costs to maintain the properties
.
 
Registration rights agreement
 
Prior to the closing of the Company
’s initial public offering in
November
2004,
the Company and the Parent entered into a registration rights agreement pursuant to which the Parent
may
require the Company to register its common stock for sale on Form S-
1
or Form S-
3.
The Company also agreed to pay all expenses that result from the registration of the Company’s common stock under the registration rights agreement, other than underwriting commissions for such shares and taxes. The Company has also agreed to indemnify the parent, its directors, officers and employees against liability that
may
result from their sale of the Company’s common stock, including Securities Act liabilities.
 
As of
February
12,
2015,
the above-mentioned agreements are no longer effective as a result of the restructuring transaction described above.
v3.6.0.2
Note 22 - Employee Benefit Plan
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Pension and Other Postretirement Benefits Disclosure [Text Block]
NOTE
22
— EMPLOYEE BENEFIT PLAN
 
401
(
k) Plan
 
The Company has a
401(k)
Plan (the “Plan”) for the benefit of its U.S. employees. Employees of the Company and its U.S. subsidiaries who have completed
one
year of service or who had
one
year of service upon establishment of the Plan are eligible to participate in the Plan. Contributions are made by employees through pretax deductions up to
60%
of their annual salary. In
2016,
2015
and
2014,
contributions made by the Company were matched up to a maximum of
3%,
2%
and
2%
of the employee
’s annual salary, respectively. The Company’s contributions to the Plan were
$1.0
million,
$0.6
million, and
$0.5
million for the years ended
December
31,
2016,
2015,
and
2014,
respectively.
 
Severance plan
 
The Company, through Ormat Systems, provides limited non-pension benefits to all current employees in Israel who are entitled to benefits in the event of termination or retirement in accordance with the Israeli Government sponsored programs. These plans generally obligate the Company to pay
one
month
’s salary per year of service to employees in the event of involuntary termination. There is no limit on the number of years of service in the calculation of the benefit obligation. The liabilities for these plans are recorded at each balance sheet date by determining the undiscounted obligation as if it were payable at that point in time. Such liabilities have been presented in the consolidated balance sheets as “liabilities for severance pay”. The Company has an obligation to partially fund the liabilities through regular deposits in pension funds and severance pay funds. The amounts funded amounted to
$12.8
million and
$14.2
million at
December
31,
2016
and
2015,
respectively, and have been presented in the consolidated balance sheets as part of “deposits and other”. The severance pay liability covered by the pension funds is not reflected in the financial statements as the severance pay risks have been irrevocably transferred to the pension funds. Under the Israeli severance pay law, restricted funds
may
not be withdrawn or pledged until the respective severance pay obligations have been met. As allowed under the program, earnings from the investment are used to offset severance pay costs. Severance pay expenses for the years ended
December
31,
2016,
2015,
and
2014
were
$2.3
million,
$2.5
million, and
$2.1
million, respectively, which are net of income (including loss) amounting to
$0.3
million,
$0.1
million, and
$(1.5)
million, respectively, generated from the regular deposits and amounts accrued in severance funds.
 
 
 
The Company expects to pay the following future benefits to its employees upon their reaching normal retirement age
:
 
       
(
Dollars in thousands
)
  
Year ending December 31
:
  
 
 
 
201
7
 
 
   $
1,867
  
201
8
 
 
    
2,497
  
201
9
 
 
    
1,655
  
20
20
 
 
    
1,119
  
20
21
 
 
    
1,400
  
20
22
-
2026
    
5,141
  
 
 
 
   $
13,679
  
 
The above amounts were determined based on the employees
’ current salary rates and the number of years’ service that will have been accumulated at their retirement date. These amounts do not include amounts that might be paid to employees that will cease working with the Company before reaching their normal retirement age.
v3.6.0.2
Note 23 - Commitments and Contingencies
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
NOTE
23
— COMMITMENTS AND CONTINGENCIES
 
Geothermal resources
 
The Company, through its project subsidiaries in the United States, controls certain rights to geothermal fluids through certain leases with the Bureau of Land Management (“BLM”) or through private leases. Royalties on the utilization of the geothermal resources are computed and paid to the
lessors as defined in the respective agreements. Royalty expense under the geothermal resource agreements were
$17.1
million,
$15.4
million, and
$16.3
million for the years ended
December
31,
2016,
2015,
and
2014,
respectively.
 
Letters of credit
 
In the ordinary course of business with
customers, vendors, and lenders, the Company is contingently liable for performance under letters of credit totaling
$341.6
million at
December
31,
2016.
Management does not expect any material losses to result from these letters of credit because performance is not expected to be required, and, therefore, is of the opinion that the fair value of these instruments is
zero.
 
Purchase commitments
 
The Company purchases raw materials for inventories, construction-in-process and services from a variety of vendors. During the normal course of business, in order to manage manufacturing lead times and help assure adequate supply, the Company enters into agreements with contract manufacturers and suppliers that either allow them to procure goods and services based upon specifications defined by the Company, or that establish parameters defining the Company
’s requirements.
 
At
December
31,
2016,
total obligations related to such supplier agreements were approximately
$108.1
million (out of which approximately
$51.0
million relate to construction-in-process). All such obligations are payable in
2017.
 
Grants and royalties
 
The Company, through Ormat Systems, had historically, through
December
31,
2003,
requested and received grants for research and development from the Office of the Chief Scientist of the Israeli Government. Ormat Systems is required to pay royalties to the Israeli Government at a rate of
3.5%
to
5.0%
of the revenues derived from products and services developed using these grants.
No
royalties were paid for the years ended
December
31,
2016
,
2015,
and
2014.
The Company is not liable for royalties if the Company does not sell such products and services. Such royalties are capped at the amount of the grants received plus interest at LIBOR. The cap at
December
31,
2016
and
2015,
amounted to
$1.8
million and
$1.7
million, respectively, of which approximately
$0.8
million and
$0.8
million, respectively, represents interest based on the LIBOR rate, as defined above.
 
Lease commitments
 
At
December
31,
201
6,
2015
and
2014,
total lease expenses for leasing of land, building and equipment outside of the Puna lease (separately described in Note
13)
amounted to
$0.4
million,
$0.4
million and
$0.3
million respectively. The related future minimum lease payments are immaterial for each year.
 
In
2015,
t
he Company entered into a lease transaction for a fleet of vehicles. The lease transaction was classified as a capital lease and the leased vehicles were classified under Property, Plant and Equipment in total amount of
$6.9
million, representing vehicles that were received during
2015
and
2016.
The terms of the lease are monthly payments in equal installments over
5
years. The related future minimum lease payments are immaterial for each year.
 
 
Contingencies
 
●
Jon Olson and Hilary Wilt, together with Puna Pono Alliance filed a complaint on
February
17,
2015
in the Third Circuit Court for the State of Hawaii, requesting declaratory and injunctive relief requiring that PGV comply with an ordinance that the plaintiffs allege will prohibit PGV from engaging in night drilling operations at its KS-
16
well site. On
May
17,
2015,
the original complaint was amended to add the county of Hawaii and the State of Hawaii Department of Land and Natural Resources as defendants to the case. On
October
10,
2016,
the court issued its decision in response to each of the plaintiffs
’ and defendants’ motions for summary judgment, denying plaintiffs’ motion and granting defendant PGV's and the County of Hawaii’s cross motions for summary judgment, effectively rendering the plaintiffs’ action moot. On
January
17,
2017,
the plaintiffs filed a notice of appeal of the
October
10,
2016
decision.  Procedural issues as to the ability of the plaintiffs to appeal the decision at this time, including the jurisdiction of the appellate court to near the appeal, are also before the court.
 
●
On
July
8,
2014,
Global Community Monitor, LiUNA, and
two
residents of Bishop, California filed a complaint in the U.S. District Court for the Eastern District of California, alleging that Mammoth Pacific, L.P., the Company and Ormat Nevada are operating
three
geothermal generating plants in Mammoth Lakes, California (MP-
1,
MP-II and PLES-I) in violation of the federal Clean Air Act and Great Basin Unified Air Pollution Control District rules. On
June
26,
2015,
in response to a motion by the defendants, the court dismissed all but
one
of the plaintiffs
’ causes of action. On
January
6,
2017,
the court issued its order regarding several pending motions, including plaintiffs’ motion for partial summary judgment, defendants' motion for summary judgment, defendants' motion to exclude and defendants' motion for leave to file a sur-reply. The impact of the court’s
January
6
order is to deny the plaintiffs’ sole remaining cause of action.
 
●
On
April
5,
2012,
the International Brotherhood of Electrical Workers Local
1260
(“Union”) filed a petition with the NLRB seeking to organize the operations and maintenance employees at the Puna project.
  A global settlement was reached in principle in
February
2016,
which includes a Union disclaimer of interest, the withdrawal of letters from the Union to the NRLB and signed individual settlement agreements, all of which are immaterial. All issues are now settled and closed.
 
●
In
January
2014,
Ormat learned that
two
former employees filed a “qui tam” complaint seeking damages, penalties and other relief of approximately
$375
million, alleging that the Company and certain of its subsidiaries (collectively, the “Ormat Parties”) submitted fraudulent applications and certifications to obtain grants for the Puna and North Brawley projects. The U.S. Department of Justice declined to intervene. On
October
25,
2016,
the parties entered into a final settlement agreement
 providing for the dismissal of the claim without any admission of wrongdoing by the Ormat Parties and payment of
$11
million (inclusive of fees and costs). The settlement amount of
$11
million was included in general and administrative expenses in the consolidated statements of operations and comprehensive income for the year ended
December
31,
2016.
 
 
●
On
March
29,
2016,
a former local sales representative in Chile, Aquavant, S.A., filed a claim on the basis of unjust enrichment against Ormat
’s subsidiaries in the
27th
Civil Court of Santiago, Chile. The claim requests that the court order Ormat to pay Aquavant 
$4.6
million in connection with its activities in Chile, including the EPC contract for the Cerro Pabellon project and various geothermal concessions, plus
3.75%
of Ormat geothermal products sales in Chile over the next
10
years. Pursuant to various petitions submitted by defendants, including a motion describing preliminary, procedural defenses, on
August
18,
2016,
and then on
October
10,
2016,
the
27th
Civil Court issued a number of decisions, which include removal of the case to the
11th
Civil Court of Santiago, thereby delaying a determination on the larger issues of jurisdiction and competency of the Chilean courts as a substantive (and not procedural) defense.   The Company believes that it has valid defenses under law, and intends to defend itself vigorously.
 
●
 
On
August
5,
2016,
George Douvris, Stephanie Douvris, Michael Hale, Cheryl Cacocci, Hillary E. Wilt and Christina Bryan, acting for themselves and on behalf of all other similarly situated residents of the lower Puna District, filed a complaint in the Third Circuit Court for the State of Hawaii seeking certification of a class action for preliminary and permanent injunctive relief, consequential and punitive damages, attorney’s fees and statutory interest against PGV and other presently unknown defendants. The complaint purports that injuries and other damages in an undisclosed amount were caused to the plaintiffs as a result of an alleged toxic release by PGV in the wake of Hurricane Iselle in
August
2014.
On
August
25,
2016,
the Company filed to remove the case to the U.S. District Court for the District of Hawaii. On 
December
12,
2016,
the District Court granted plaintiffs’ motion for joinder of HELCO as an additional defendant, to amend the complaint, and to remand the case back to the Third Circuit Court. The Company believes that it has valid defenses under law, and intends to defend itself vigorously.
 
 
●
On
May
21,
2014,
Elko County, Nevada appealed to the Supreme Court of Nevada the Nevada Governor's Office of Energy
’s award of an energy tax abatement to ORNI
42
LLC for our Tuscarora power plant. Lander County, Nevada similarly appealed the Office of Energy’s Award of an energy tax abatement to ORNI
39
LLC for
one
of our McGinness power plant. Both of the appeals request that the Court overturn the Office of Energy’s decision and deny, retroactively and going forward, the tax abatement benefits for the full
20
year period, valued at approximately
$18.6
million for
one
of our McGinness power plant and approximately
$6.2
million for our Tuscarora power plant, of which only a small portion was utilized as of
September
30,
2016.
 Following full briefing on both plaintiffs’ and defendants’ motions for summary judgment, on
December
21,
2016,
the Supreme Court of Nevada issued its Order of Affirmance of the judgement of the District Court denying the petitions for judicial review of both Lander County and Elko County, and affirming ORNI
39
and ORNI
42's
rights to obtain the partial property tax abatements for their respective facilities.
 
●
 
On
June
20,
2016,
Nadia Garcia, individually and as successor in interest to Thomas Garcia Valenzuela, and as guardian ad litem to Emerie Garcia, Khamilla Garcia and Reyene Adam, filed a complaint against Ormat Technologies, Ormat Nevada and Ormesa LLC in the Superior Court of Imperial County seeking unspecified monetary damages. The complaint alleges that the Ormat defendants caused the wrongful death, personal injury and other harm to Thomas Garcia when he was employed by Martin Hydroblasting Services, Inc. and suffered injuries leading to his death while performing work at the Ormesa plant site on or around
March
31,
2016.
Early discovery and conferences are underway. The insurer of the deceased’s employer, and Ormat’s insurer, have accepted
tender
of this claim and are providing Ormat with a defense in the lawsuit, subject to reservation of rights to deny coverage under the policy and under the law.
 
In addition, from time to time, the Company is named as a party to various other lawsuits, claims and other legal and regulatory proceedings that arise in the ordinary course of our business. These actions typically seek, among other things, compensation for alleged personal injury, breach of contract, property damage, punitive damages, civil penalties or other losses, or injunctive or declaratory relief. With respect to such lawsuits, claims and proceedings, the Company accrues reserves when a loss is probable and the amount of such loss can be reasonably estimated. It is the opinion of the Company
’s management that the outcome of these proceedings, individually and collectively, will not be material to the Company’s consolidated financial statements as a whole.
v3.6.0.2
Note 24 - Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Quarterly Financial Information [Text Block]
NOTE
24
— QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
 
   
Three Months Ended
  
   
Mar. 31,
2015
    
June 30,
2015
    
Sept. 30,
2015
    
Dec. 31,
2015
    
Mar. 31,
2016
    
June 30,
2016
    
Sept. 30,
2016
    
Dec. 31,
2016
  
   
(Dollars in thousands, except per share amounts)
  
Revenues:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Electricity
   $
89,953
     $
90,926
     $
97,245
     $
97,796
     $
107,868
     $
104,001
     $
109,795
     $
114,628
  
Product
    
30,278
      
49,561
      
65,607
      
73,278
      
43,726
      
55,860
      
74,822
      
51,891
  
Total revenues
    
120,231
      
140,487
      
162,852
      
171,074
      
151,594
      
159,861
      
184,617
      
166,519
  
Cost of revenues:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Electricity
    
55,581
      
62,522
      
61,501
      
63,008
      
63,686
      
62,243
      
66,481
      
69,163
  
Product
    
20,625
      
27,182
      
42,019
      
43,927
      
24,035
      
31,822
      
43,647
      
30,719
  
Total cost of revenues
    
76,206
      
89,704
      
103,520
      
106,935
      
87,721
      
94,065
      
110,128
      
99,882
  
Gross profit
    
44,025
      
50,783
      
59,332
      
64,139
      
63,873
      
65,796
      
74,489
      
66,637
  
Operating expenses:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Research and development expenses
    
363
      
414
      
335
      
668
      
349
      
595
      
1,086
      
732
  
Selling and marketing expenses
    
3,433
      
4,283
      
4,383
      
3,978
      
3,675
      
3,668
      
4,793
      
4,288
  
General and administrative expenses
    
10,204
      
7,443
      
7,950
      
9,185
      
8,749
      
8,783
      
19,093
      
10,085
  
Write-off of unsuccessful exploration activities
    
174
      
--
      
185
      
1,220
      
557
      
863
      
1,294
      
303
  
Operating income
    
29,851
      
38,643
      
46,479
      
49,088
      
50,543
      
51,887
      
48,223
      
51,229
  
Other income (expense):
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Interest income
    
9
      
44
      
53
      
191
      
320
      
245
      
266
      
140
  
Interest expense, net
    
(17,828
 )    
(18,859
 )    
(17,748
 )    
(18,142
 )    
(16,023
 )    
(18,401
 )    
(17,137
 )    
(15,828
 )
Foreign currency translation and transaction gains (losses)
    
(1,366
 )    
(571
 )    
1,296
      
(981
 )    
1,962
      
(4,332
 )    
(222
 )    
(2,942
 )
Income attributable to sale of tax benefits
    
5,552
      
4,731
      
8,634
      
6,514
      
4,398
      
4,519
      
3,463
      
4,123
  
Other non-operating income (expense), net
    
283
      
(1,675
 )    
(131
 )    
(468
 )    
191
      
49
      
(5,546
 )    
(39
 )
Income (loss) from continuing operations, before income taxes and equity in income of investees
    
16,501
      
22,313
      
38,583
      
36,202
      
41,391
      
33,967
      
29,047
      
36,683
  
Income tax benefit (provision)
    
(5,459
 )    
(6,056
 )    
38,211
      
(11,438
 )    
(9,509
 )    
(7,890
 )    
(11,988
 )    
(2,450
 )
Equity in income (losses) of investees
    
(775
 )    
(984
 )    
(3,133
 )    
(616
 )    
(937
 )    
(1,144
 )    
(2,653
 )    
(3,001
 )
Net income (loss)
    
10,267
      
15,273
      
73,661
      
24,148
      
30,945
      
24,933
      
14,406
      
31,232
  
Net loss (income) attributable to noncontrolling interest
    
(235
 )    
(859
 )    
(1,522
 )    
(1,160
 )    
(1,674
 )    
(584
 )    
(2,326
 )    
(3,002
 )
Net income (loss) attributable to the Company's stockholders
   $
10,032
     $
14,414
     $
72,139
     $
22,988
     $
29,271
     $
24,349
     $
12,080
     $
28,230
  
                                                                 
Earnings (loss) per share attributable to the Company's stockholders
                                                                
                                                                 
Basic:
                                                                
Net income
   $
0.21
     $
0.29
     $
1.47
     $
0.47
     $
0.60
     $
0.49
     $
0.24
     $
0.57
  
                                                                 
Diluted:
                                                                
Net income
   $
0.21
     $
0.28
     $
1.41
     $
0.46
     $
0.59
     $
0.49
     $
0.24
     $
0.56
  
                                                                 
Weighted average number of shares used in computation of earnings per share attributable to the Company's stockholders:
                                                                
                                                                 
Basic
    
47,244
      
48,881
      
49,023
      
49,074
      
49,173
      
49,456
      
49,599
      
49,647
  
Diluted
    
48,079
      
50,600
      
51,113
      
49,668
      
49,782
      
50,137
      
50,289
      
50,293
  
v3.6.0.2
Note 25 - Subsequent Events
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Subsequent Events [Text Block]
NOTE
25
— SUBSEQUENT EVENTS
 
Cash dividend
 
On
February
28,
2017,
the Company
’s Board of Directors declared, approved and authorized payment of a quarterly dividend of
$8.4
million
($0.17
per share) to all holders of the Company’s issued and outstanding shares of common stock on
March
15,
2017,
payable on
March
29,
2017.
v3.6.0.2
Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Description Of Business [Policy Text Block]
Business
 
Ormat Technologies, Inc. (the “Company”) is primarily engaged in the geothermal and recovered energy business, including the supply of equipment that is manufactured by the Company and the design and construction of power plants for projects owned by the Company or for
third
parties. The Company owns and operates geothermal and recovered energy-based power plants in various countries, including the United States of America (“U.S.”), Kenya, and Guatemala. The Company
’s equipment manufacturing operations are located in Israel.
 
Most of the Company
’s domestic power plant facilities are Qualifying Facilities under the Public Utility Regulatory Policies Act of
1978
(“PURPA”). The power purchase agreements (“PPAs”) for certain of such facilities are dependent upon their maintaining Qualifying Facility status. Management believes that all of the facilities located in the U.S. were in compliance with Qualifying Facility status requirements as of
December
31,
2016.
Dividend Declared [Policy Text Block]
Cash dividends
 
During the years ended
December
31,
2016,
2015,
and
2014,
the Company’s Board of Directors declared, approved, and authorized the payment of cash dividends in the aggregate amount of
$25.7
million
($0.52
per share),
$12.7
million
($0.26
per share), and
$9.6
million
($0.21
per share), respectively. Such dividends were paid in the years declared.
Rounding [Policy Text Block]
Rounding
 
Dollar amounts, except per share data, in the notes to these financial statements are rounded to the closest
$1,000,
unless otherwise indicated
.
Basis of Accounting, Policy [Policy Text Block]
Basis of presentation
 
The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company and of all majority-owned subsidiaries in which the Company exercises control over operating and financial policies, and variable interest entities in which the Company has an interest and is the primary beneficiary. Intercompany accounts and transactions have been eliminated in consolidation
.
 
Investments in less-than-majority-owned entities or other entities in which the Company exercises significant influence over operating and financial policies are accounted for using the equity method of accounting or consolidated if they are a variable interest entity in which the Company has an interest and is the primary beneficiary. Under the equity method, original investments are recorded at cost and adjusted by the Company
’s share of undistributed earnings or losses of such companies. The Company’s earnings or losses in investments accounted for under the equity method have been reflected as “equity in income (losses) of investees, net” on the Company’s consolidated statements of operations and comprehensive income (loss).
Cash and Cash Equivalents, Policy [Policy Text Block]
Cash and cash equivalents
 
The Company considers all highly liquid instruments, with an original maturity of
three
months or less, to be cash equivalents
.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]
Restricted cash, cash equivalents
, and marketable securities
 
Under the terms of certain long-term debt agreements, the Company is required to maintain certain debt service reserves, cash collateral and operating fund accounts that have been classified as restricted cash and cash equivalents. Funds that will be used to satisfy obligations due during the next
twelve
months are classified as current restricted cash and cash equivalents, with the remainder classified as non-current restricted cash and cash equivalents. Such amounts were invested primarily in money market accounts and commercial paper with a minimum investment grade of “AA”.
Concentration Risk, Credit Risk, Policy [Policy Text Block]
Concentration of credit risk
 
Financial instruments which potentially subject the Company to concentration of credit risk consist principally of temporary cash investments and accounts receivable
.
 
The Company places its temporary cash investments with high credit quality financial institutions located in the U.S. and in foreign countries. At
December
31,
2016
and
2015,
the Company had deposits totaling
$72.5
million and
$19.0
million, respectively, in
seven
U.S. financial institutions that were federally insured up to
$250,000
per account. At
December
31,
2016
and
2015,
the Company
’s deposits in foreign countries of approximately
$166.2
million and
$181.0
million, respectively, were not insured.
 
At
December
31,
2016
and
2015,
accounts receivable related to operations in foreign countries amounted to
approximately
$53.3
million and
$27.8
million, respectively. At
December
31,
2016,
and
2015,
accounts receivable from the Company’s major customers (see Note
20)
amounted to approximately
60%
and
66%,
respectively, of the Company’s accounts receivable.
 
The Company has historically been able to collect on substantially all of its receivable balances, and accordingly, no provision for doubtful accounts has been made.
Inventory, Policy [Policy Text Block]
Inventories
 
Inventories consist primarily of raw material parts and sub-assemblies for power units, and are stated at the lower of cost or market value, using the weighted-average cost method. Inventories are reduced by a provision for slow-moving and obsolete inventories. This provision was
not
material at
December
31,
2016
and
2015.
Deposit Contracts, Policy [Policy Text Block]
Deposits and other
 
Deposits and other consist primarily of performance bonds for construction projects, long-term insurance contract and receivables, and derivative instruments.
Deferred Charges, Policy [Policy Text Block]
Deferred charges
 
Deferred charges represent prepaid income taxes on intercompany sales. Such amounts are amortized using the straight-line method and included in income tax provision over the life of the related property, plant and equipment.
Property, Plant and Equipment, Policy [Policy Text Block]
Property, plant and equipment, net
 
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:
 
Buildings (in years)
    
 
25
 
  
Leasehold improvements (in years)
    
15
-
20
  
Machinery and equipment
— manufacturing and drilling (in years)
    
 
10
 
  
Machinery and equipment
— computers (in years)
    
3
-
5
  
Office equipment
— furniture and fixtures (in years)
    
5
-
15
  
Office equipment
— other (in years)
    
5
-
10
  
Automobiles (in years)
    
5
-
7
  
 
The cost and accumulated depreciation of items sold or retired are removed from the accounts. Any resulting gain or loss recognized currently and is recorded in the accompanying statements of operations.
 
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
$3.3
million,
$4.1
million, and
$3.2
million for the years ended
December
31,
2016,
2015,
and
2014,
respectively.
Cash Grant [Policy Text Block]
Cash Grants
 
From
2009
to
2014,
the Company was awarded cash grants from the U.S. Department of the Treasury (“U.S. Treasury”) for Specified Energy Property in Lieu of Tax Credits under Section
1603
of the American Recovery and Reinvestment Act of
2009
(“ARRA”). The Company recorded the cash grant as a reduction in the carrying value of the related plant and amortized the grants as a reduction in depreciation expense over the plant’s estimated useful life.
Exploratory Drilling Costs Capitalization and Impairment, Policy [Policy Text Block]
Exploration and development costs
 
The Company capitalizes costs incurred in connection with the exploration and development of geothermal resources once it acquires land rights to the potential geothermal resource. Prior to acquiring land rights, the Company makes an initial assessment that an economically feasible geothermal reservoir is probable on that land. The Company determines the economic feasibility of potential geothermal resources internally, with all available data and external assessments vetted through the exploration department and occasionally using outside service providers. Costs associated with the initial assessment are expensed and included in cost of electricity revenues in the consolidated statements of operations and comprehensive income (loss). Such costs were immaterial during the years ended
December
31,
2016,
2015,
and
2014.
It normally takes
two
to
three
years from the time active exploration of a particular geothermal resource begins to the time a production well is in operation, assuming the resource is commercially viable. However, in certain sites the process
may
take longer due to permitting delays, transmission constrains or any other commercial milestones that are required to be reached in order to pursue the development process.
 
In most cases, the Company obtains the right to conduct the geothermal development and operations on land owned by the Bureau of Land Management (“BLM”), various states or with private parties. In consideration for certain of these leases, the Company
may
pay an up-front bonus payment which is a component of the competitive lease process. The up-front bonus payments and other related costs, such as legal fees, are capitalized and included in construction-in-process. The annual land lease payments made during the exploration, development and construction phase are expensed as incurred and included in “electricity cost of revenues” in the consolidated statements of operations and comprehensive income (loss). Upon commencement of power generation on the leased land, the Company begins to pay to the lessors long-term royalty payments based on the utilization of the geothermal resources as defined in the respective agreements. Such payments are expensed when the related revenues are earned and included in “electricity cost of revenues” in the consolidated statements of operations and comprehensive income (loss).
 
Following the acquisition of land rights to the potential geothermal resource, the Company conducts further studies and surveys, including water and soil analyses among others, and augments its database with the results of these studies. The Company then initiates a suite of geophysical surveys to assess the resource and determine drilling locations. If the results of these activities support the initial assessment of the feasibility of the geothermal resource, the Company then proceeds to exploratory drilling and other related activities which
may
include drilling of temperature gradient holes, drilling of slim holes, building access roads to drilling locations, drilling full size production and/or injection wells and flow tests. If the slim hole supports a conclusion that the geothermal resource will support a commercially viable power plant, it
may
be converted to a full-size commercial well, used either for extraction or re-injection or geothermal fluids, or be used as an observation well to monitor and define the geothermal resource. Costs associated with these activities and other directly attributable costs, including interest once physical exploration activities begin and permitting costs are capitalized and included in “construction-in-process”. If the Company concludes that a geothermal resource will not support commercial operations, capitalized costs are expensed in the period such determination is made.
 
When deciding whether to continue holding lease rights and/or to pursue exploration activity, we diligently prioritize our prospective investments, taking into account resource and probability assessments in order to make informed decisions about whether a particular project will support commercial operations
. As a result, write-off of unsuccessful activities for the year ended
December
31,
2016,
2015
and
2014,
was
$3.0
million,
$1.6
million, and
$15.4
million. In
2016
and
2015,
the write-offs included the exploration costs related to the Company’s exploration activities primarily in the Twilight site in Oregon and the Maui site in Hawaii of
$1.0
million, respectively. In
2014,
the write-offs included the exploration costs related to the Company’s exploration activities in the Wister site in California of
$8.1
million and the Mount Spur site in Alaska of
$7.3
million.
 
Grants received from the U.S. Department of Energy (“DOE”) are offset against the related exploration and development costs. Such grants amounted to
$0.3
million,
$0.8
million, and
$1.7
million for the years ended
December
31,
2016,
2015,
and
2014,
respectively.
 
All exploration and development costs that are being capitalized, including the up-front bonus payments made to secure land leases, will be depreciated over their estimated useful lives when the related geothermal power plant is substantially complete and ready for use. A geothermal power plant is substantially complete and ready for use when electricity generation commences.
Asset Retirement Obligations, Policy [Policy Text Block]
Asset retirement obligation
 
The Company records the fair value of a legal liability for an asset retirement obligation in the period in which it is incurred. The Company
’s legal liabilities include plugging wells and post-closure costs of power producing sites. When a new liability for asset retirement obligations is recorded, the Company capitalizes the costs of the liability by increasing the carrying amount of the related long-lived asset. The liability is accreted to its present value each period, and the capitalized cost is depreciated over the useful life of the related asset. At retirement, the obligation is settled for its recorded amount at a gain or loss.
Deferred Financing And Lease Transaction Costs [Policy Text Block]
Deferred financing and lease transaction costs
 
Deferred financing costs are amortized over the term of the related obligation using the effective interest method. Amortization of deferred financing costs is presented as interest expense in the consolidated statements of operations and comprehensive income (loss). Accumulated amortization related to deferred financing costs amounted to
$31.1
million and
$37.2
million at
December
31,
2016
and
2015,
respectively. Amortization expense for the years ended
December
31,
2016,
2015,
and
2014
amounted to
$6.9
million,
$8.8
million, and
$6.5
million, respectively. During the years ended
December
31,
2016,
2015
and
2014
amounts of
$0.1
million,
$0.5
million and
$0.7
million, respectively, were written-off as a result of the extinguishment of liability.
 
Deferred transaction costs relating to the Puna operating lease (see Note
13)
in the amount of
$4.2
million are amortized using the straight-line method over the
23
-year term of the lease. Amortization of deferred transaction costs is presented in cost of revenues in the consolidated statements of operations and comprehensive income (loss). Accumulated amortization related to deferred lease costs amounted to
$2.1
million and
$2.0
million at
December
31,
2016
and
2015,
respectively. Amortization expense for each of the years ended
December
31,
2016,
2015,
and
2014
amounted to
$0.2
million.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]
Goodwill
 
Goodwill represents the excess of the fair value of consideration transferred in the Guadeloupe business combination transaction over the fair value of tangible and intangible assets acquired net of the fair value of liabilities assumed and the fair value of any noncontrolling interest in the acquisition. Goodwill is not amortized but rather subject to periodic impairment testing on an annual basis or if an event occurs or circumstances change that would more likely than not reduce the fair value of reporting unit below its carrying amount.
Intangible Assets, Finite-Lived, Policy [Policy Text Block]
Intangible assets
 
Intangible assets consist of allocated acquisition costs of PPAs, which are amortized using the straight-line method over the
13
to
25
-year terms of the agreements (see Note
10
).
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]
Impairment of long-lived assets and long-lived assets to be disposed of
 
The Company evaluates long-lived assets, such as property, plant and equipment and construction-in-process for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset
may
not be recoverable. Factors which could trigger an impairment include, among others, significant underperformance relative to historical or projected future operating results, significant changes in the Company
’s use of assets or its overall business strategy, negative industry or economic trends, a determination that an exploration project will not support commercial operations, a determination that a suspended project is not likely to be completed, a significant increase in costs necessary to complete a project, legal factors relating to its business or when it concludes that it is more likely than not that an asset will be disposed of or sold.
 
The Company tests its operating plants that are operated together as a complex for impairment at the complex level because the cash flows of such plants result from significant shared operating activities. For example, the operating power plants in a complex are managed under a combined operation management generally with
one
central control room that controls all of the power plants in a complex and
one
maintenance group that services all of the power plants in a complex. As a result, the cash flows from individual plants within a complex are not largely independent of the cash flows of other plants within the complex. The Company tests for impairment its operating plants which are not operated as a complex as well as its projects under exploration, development or construction that are not part of an existing complex at the plant or project level. To the extent an operating plant becomes part of a complex, the Company will test for impairment at the complex level.
 
Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated future net undiscounted cash flows expected to be generated by the asset. The significant assumptions that the Company uses in estimating its undiscounted future cash flows include: (i) projected generating capacity of the complex or power plant and rates to be received under the respective PPA(s)
and expected market rates thereafter
and (ii) projected operating expenses of the relevant complex or power plant. Estimates of future cash flows used to test recoverability of a long-lived asset under development also include cash flows associated with all future expenditures necessary to develop the asset.
 
If the assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds their fair value. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. Management believes that no impairment exists for long-lived assets; however, estimates as to the recoverability of such assets
may
change based on revised circumstances. If actual cash flows differ significantly from the Company
’s current estimates, a material impairment charge
may
be required in the future.
Derivatives, Policy [Policy Text Block]
Derivative instruments
 
Derivative instruments (including certain derivative instruments embedded in other contracts) are measured at their fair value and recorded as either assets or liabilities unless exempted from derivative treatment as a normal purchase and sale. All changes in the fair value of derivatives are recognized in earnings unless specific hedge criteria are met, which requires a company to formally document, designate and assess the effectiveness of transactions that receive hedge accounting.
 
The Company maintains a risk management strategy that incorporates the use of swap contracts and put options on oil and natural gas prices, forward exchange contracts, interest rate swaps, and interest rate caps to minimize significant fluctuation in cash flows and/or earnings that are caused by oil and natural gas prices, exchange rate or interest rate volatility. Gains or losses on contracts that initially qualify for cash flow hedge accounting, net of related taxes, are included as a component of other comprehensive income or loss and accumulated other comprehensive income or loss are subsequently reclassified into earnings when the hedged forecasted transaction affects earnings. Gains or losses on contracts that are not designated as a cash flow hedge are included currently in earnings.
Foreign Currency Transactions and Translations Policy [Policy Text Block]
Foreign currency translation
 
The U.S. dollar is the functional currency for all of the Company
’s consolidated operations and those of its equity affiliates except for the Guadeloupe power plant. For those entities, all gains and losses from currency translations are included within the line item “Derivatives and foreign currency transaction gains (losses)” within the consolidated statements of operations and comprehensive income (loss). The Euro is the functional currency of the Guadeloupe power plant and thus gains and losses from currency translation adjustments related to Guadeloupe are included as currency translation adjustments in accumulated other comprehensive income in the consolidated statements of equity and in comprehensive income.
Comprehensive Income, Policy [Policy Text Block]
Comprehensive income (loss) reporting
 
Comprehensive income (loss) includes net income or loss plus other comprehensive income (loss), which for the Company consists of changes in unrealized gains or losses in respect of the Company
’s share in derivatives instruments of unconsolidated investment, foreign currency translation adjustments and the mark-to-market gains or losses on derivative instruments designated as a cash flow hedge. For the years ended
December
31,
2016,
2015
and
2014,
the Company reclassified
$9
thousand,
$27
thousand and
$141
thousand, respectively, from other comprehensive income, of which
$12.0
thousand,
$44
thousand and
$228
thousand, respectively, were recorded to reduce interest expense and
$3.0
thousand,
$17
thousand and
$87
thousand, respectively, were recorded against the income tax provision, in the consolidated statements of operations and comprehensive income (loss).
Revenue Recognition, Policy [Policy Text Block]
Revenues and cost of revenues
 
Revenues are primarily related to: (i) sale of electricity from geothermal and recovered energy-based power plants owned and operated by the Company and (ii) geothermal and recovered energy-based power plant equipment engineering, sale, construction and installation, and operating services.
 
Revenues related to the sale of electricity from geothermal and recovered energy-based power plants and capacity payments are recorded based upon output delivered and capacity provided at rates specified under relevant contract terms. For PPAs agreed to, modified, or acquired in business combinations on or after
July
1,
2003,
the Company determines whether such PPAs contain a lease element requiring lease accounting. Revenue from such PPAs are accounted for in electricity revenues. The lease element of the PPAs is also assessed in accordance with the revenue arrangements with multiple deliverables guidance, which requires that revenues be allocated to the separate earnings processes based on their relative fair value. PPAs with minimum lease rentals which vary over time are generally recognized on the straight-line basis over the term of the PPAs. PPAs with contingent rentals are recognized when earned.
 
Revenues from engineering, operating services, and parts and product sales are recorded upon providing the service or delivery of the products and parts and when collectability is reasonably assured. Revenues from the supply and/or construction of geothermal and recovered energy-based power plant equipment and other equipment to
third
parties are recognized using the percentage-of-completion method. Revenue is recognized based on the percentage relationship that incurred costs bear to total estimated costs. Costs include direct material, labor, and indirect costs. Selling, marketing, general, and administrative costs are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability, including those arising from contract penalty provisions and final contract settlements,
may
result in revisions to costs and revenues and are recognized in the period in which the revisions are determined
.
 
In specific instances where there is a lack of dependable estimates or inherent risks cause forecast to be doubtful, then the completed-contract method is followed. Revenue is recognized when the contract is substantially complete and when collectability is reasonably assured. Costs that are closely associated with the project are deferred as contract costs and recognized similarly to the associated revenues.
Standard Product Warranty, Policy [Policy Text Block]
Warranty on products sold
 
The Company generally provides a
one
-year warranty against defects in workmanship and materials related to the sale of products for electricity generation. Estimated future warranty obligations are included in operating expenses in the period in which the related revenue is recognized. Such charges are immaterial for the years ended
December
31,
2016,
2015,
and
2014
.
Research and Development Expense, Policy [Policy Text Block]
Research and development
 
Research and development costs incurred by the Company for the development of existing and new geothermal, recovered energy and remote power technologies are expensed as incurred. Grants received from the DOE are offset against the related research and development expenses. Such grants amounted to
$0
million,
$0
million, and
$0.6
million for the years ended
December
31,
2016,
2015,
and
2014,
respectively
.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]
Stock-based compensation
 
The Company accounts for stock-based compensation using the fair value method whereby compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the requisite employee service period (generally the vesting period of the grant). Prior to
2016,
the Company used the Black-Scholes formula to estimate the fair value of the stock-based compensation. In
2016,
the Company used the Exercise Multiple-Based Lattice SAR-Pricing Model to value the stock-based compensation awards to reflect accumulated historic data retained of behavioral parameters.
Tax Monetization Transactions Policy [Policy Text Block]
Tax monetization Transactions
 
The Company has
three
tax monetization transactions, OPC, ORTP and Opal, as described in Note
14.
  The purpose of these transactions is to form tax partnerships, whereby investors provide cash in exchange for equity interests that provide the holder a right to the majority of tax benefits associated with a renewable energy project.  We account for a portion of the proceeds from the transaction as debt under ASC
470.
  Given that a portion of these transactions is structured as a purchase of an equity interest we also classify a portion as noncontrolling interest consistent with guidance in ASC
810.
  The portion recorded to noncontrolling interest is initially measured as the fair value of the discounted Tax Attributes and cash distributions which represents the partner's residual economic interest.  The residual proceeds is recognized as the initial carrying value of the debt which is classified as a liability associated with sale tax benefits. We apply the effective interest rate method to the liability component as described by ASC
835
and CON
7.
  The tax benefits and cash distributions realized by the partner each period are treated as the debt servicing amounts, giving rise to income attributable to the sale of tax benefits.  The deferred transaction costs have been capitalized and amortized using the effective interest method.
Income Tax, Policy [Policy Text Block]
Income taxes
 
Income taxes are accounted for using the asset and liability approach, which requires the recognition of taxes payable or refundable for the current year and deferred tax assets and liabilities for the future tax consequences of events that have been recognized in the Company
’s financial statements or tax returns. The measurement of current and deferred tax assets and liabilities are based on provisions of the enacted tax law. The effects of future changes in tax laws or rates are not anticipated. The Company accounts for investment tax credits and production tax credits as a reduction to income taxes in the year in which the credit arises. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not, more likely than not expected to be realized. A full valuation allowance has been established to offset the Company’s U.S. deferred tax assets. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Interest and penalties assessed by taxing authorities on an underpayment of income taxes are included as a component of income tax provision in the consolidated statements of operations and comprehensive income.
Earnings Per Share, Policy [Policy Text Block]
Earnings (loss) per share
 
Basic earnings (loss) per share attributable to the Company
’s stockholders (“earnings (loss) per share”) is computed by dividing net income or loss attributable to the Company’s stockholders by the weighted average number of shares of common stock outstanding for the period. The Company does not have any equity instruments that are dilutive, except for stock-based awards.
 
The table below shows the reconciliation of the number of shares used in the computation of basic and diluted earnings per share
:
 
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(In thousands)
  
Weighted average number of shares used in computation of basic earnings per share
    
49,469
      
48,562
      
45,508
  
Add:
                        
Additional shares from the assumed exercise of employee stock options
    
671
      
625
      
351
  
                         
Weighted average number of shares used in computation of diluted earnings per share
    
50,140
      
49,187
      
45,859
  
 
 
The number of stock-based awards that could potentially dilute future earnings per share and were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive was
102,793,
467,766,
and
3,237,593,
respectively, for the years ended
December
31,
2016,
2015,
and
2014.
Use of Estimates, Policy [Policy Text Block]
Use of estimates in preparation of financial statements
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 long-lived assets and assets to be disposed of, revenue recognition of product sales using the percentage of completion method, asset retirement obligations, and the provision for income taxes.
New Accounting Pronouncements, Policy [Policy Text Block]
New Accounting Pronouncements
 
New accounting pronouncements effective in the year ended
December
31,
2016
 
Amendments to Fair Value Measurement
 
In
June
2015,
the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)
2015
-
10,
Amendment to Fair Value Measurement, Subtopic
820
-
10.
The amendment provides that the reporting entity shall disclose for each class of assets and liabilities measured at fair value in the statement of financial position the following information: for recurring fair value measurements, the fair value measurement at the end of the reporting period, and for non-recurring fair value measurement, the fair value measurement at the relevant measurement date and the reason for the measurement. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2015,
including interim periods within those reporting periods. The adoption of this guidance did not have a material impact on the Company
’s consolidated financial statements.
 
Amendments to the Consolidation Analysis
 
In
February
2015,
the FASB issued ASU
2015
-
02,
Amendments to the Consolidation Analysis, Topic
810.
The update provides that all reporting entities that hold a variable interest in other legal entities will need to re-evaluate their consolidation conclusions and potentially revise their disclosures. This amendment affects both variable interest entity (“VIE”) and voting interest entity (“VOE”) consolidation models. The update does not change the general order in which the consolidation models are applied. A reporting entity that holds an economic interest in, or is otherwise involved with, another legal entity (i.e. has a variable interest) should
first
determine if the VIE model applies, and if so, whether it holds a controlling financial interest under that model. If the entity being evaluated for consolidation is not a VIE, then the VOE model should be applied to determine whether the entity should be consolidated by the reporting entity. Since consolidation is only assessed for legal entities, the determination of whether there is a legal entity is important. It is often clear when the entity is incorporated, but unincorporated structures can also be legal entities and judgment
may
be required to make that determination. The update contains a new example that highlights the discretion used to make this legal entity determination. The update is effective for annual reporting periods beginning after
December
15,
2015,
including interim periods within those reporting periods. The adoption of this guidance did not have a material impact on the Company
’s consolidated financial statements.
 
Simplifying the Presentation of Debt Costs
 
In
April
2015,
the FASB issued ASU
2015
-
03,
Interest-Imputation of Interest: Simplifying the Presentation of Debt Costs, Subtopic
835
-
30.
The update provides that debt issuance costs related to a recognized debt liability be presented in the balance sheet as direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The amendments in this update are effective for financial statements issued for fiscal years beginning after
December
15,
2015,
and interim periods within those fiscal years. The Company retrospectively adopted this update in its interim period beginning
January
1,
2016.
The impact of the adoption resulted in a reclassification of debt issuance costs totaling $
17.7
million and
$19.1
million as of
December
31,
2016
and
December
31,
2015,
respectively.
 
In
August
2015,
the FASB issued ASU
2015
-
15,
Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, Subtopic
835
-
30.
The update clarifies that given the absence of authoritative guidance within Update
2015
-
03
for debt issuance costs described below, debt issuance costs related to line-of-credit arrangements can be deferred and presented as assets and subsequently amortized ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings under the line-of-credit arrangement. The amendments in this update are effective for financial statements issued for fiscal years beginning after
December
15,
2015,
and interim periods within those fiscal years. The Company adopted this update in its interim period beginning
January
1,
2016
and continues to present debt issuance costs related to such line-of-credit arrangements as assets amortized ratably over the respective term of the line-of credit arrangements. Debt issuance costs related to such line-of-credit arrangements as of
December
31,
2016
and
December
31,
2015,
totaled
$1.1
million and
$1.0
million, respectively.
 
New accounting pronouncements effective in future periods
 
 
Business Combinations
 
In
January
2017,
the FASB issued ASU
2017
-
01,
Business Combinations (Topic
805).
The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this update primarily provide a screen to determine when a set of assets and activities is not a business and by that reduces the number of transactions that need to be further evaluated. The amendments in this update should be applied prospectively and are effective for financial statements issued for fiscal years beginning after
December
15,
2017,
and interim periods within those fiscal years. Early adoption is permitted. 
The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements.
 
Statement of Cash Flows
 
In
November
2016,
the FASB issued ASU
2016
-
018,
Statement of Cash Flows (Topic
230)
– Restricted Cash. The amendments in this update require that a statement of cash flows explain the changes during the period in total cash, cash equivalents, and the amounts generally described as restricted cash or cash equivalents. Therefore, amounts of restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in this update should be applied retrospectively for each period presented and are effective for financial statements issued for fiscal years beginning after
December
15,
2017,
and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements.
 
Intra-Entity Transfers of Assets Other than Inventory
 
 
     In
October
2016,
the FASB issued ASU
2016
-
16,
Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory. The amendments in this update require that the entity would recognize the tax expense from the sale of the asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. Any deferred tax asset that arises in the buyer’s jurisdiction would also be recognized at the time of the transfer. The new guidance does not apply to intra-entity transfers on inventory. The amendments in this update should be applied for each period presented and are effective for financial statements issued for fiscal years beginning after
December
15,
2017,
and interim periods within those fiscal years. The modified retrospective approach will be required for transition to the new guidance, with cumulative-effect adjustment recorded in retained earnings as of the beginning of the period of adoption. Early adoption is permitted in the
first
quarter of
2017.
The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements.
 
Interests Held through Related Parties that are under Common Control
 
 
     In
October
2016,
the FASB issued ASU
2016
-
17,
Consolidation (Topic
810):
Interests held through Related Parties that are under Common Control. The amendments in this update require that if a decision maker is required to evaluate whether it is the primary beneficiary of a VIE, it will need to consider only its proportionate indirect interest in the VIE held through a common control party. The amendments in this update should be applied retrospectively for each period presented and are effective for financial statements issued for fiscal years beginning after
December
15,
2016,
and interim periods within those fiscal years. The Company is currently evaluating the potential impact of the adoption of these amendments on its consolidated financial statements.
 
Improvement to Employee Share-Based Payment Accounting
 
In
March
2016,
the FASB issued ASU
2016
-
09,
Improvement to Employee Share-Based Payment Accounting, an
 update to the guidance on stock-based compensation. Under the new guidance, all excess tax benefits and tax deficiencies will be recognized in the income statement as they occur. This will replace the current guidance, which requires tax benefits that exceed compensation cost (windfalls) to be recognized in equity. It will also eliminate the need to maintain a “windfall pool,” and will remove the requirement to delay recognizing a windfall until it reduces current taxes payable. The new guidance will also change the cash flow presentation of excess tax benefits, classifying them as operating inflows, consistent with other cash flows related to income taxes. Today, windfalls are classified as financing activities. Also, this will affect the dilutive effects in earnings per share, as there will no longer be excess tax benefits recognized in additional paid in capital. Today those excess tax benefits are included in assumed proceeds from applying the treasury stock method when computing diluted EPS. Under the amended guidance, companies will be able to make an accounting policy election to either
(1)
continue to estimate forfeitures or
(2)
account for forfeitures as they occur. This updated guidance is effective for annual and interim periods beginning after 
December
15,
2016.
 Early adoption is permitted. The Company is currently evaluating the potential impact, if any, of the adoption of this update on its consolidated financial statements, however, any impact is not expected to be material.
 
Leases
 
In
February
2016,
the FASB issued ASU
2016
-
02,
Leases, Topic
842.
The amendment in this Update introduce a number of changes and simplifications from previous guidance, primarily the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The Update retains the distinction between finance leases and operating leases and the classification criteria between the
two
types remain substantially similar. Also, lessor accounting remains largely unchanged from previous guidance, however, key aspects in the Update were aligned with the revenue recognition guidance in Topic
606.
Additionally, the Update defines a lease as a contract, or part of a contract, that conveys the right to control the use of identified asset for a period of time in exchange for considerations. Control over the use of the identified means that the customer has both (a) the right to obtain substantially all of the economic benefits from the use of the asset and (b) the right to direct the use of the asset. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2018,
including interim periods within those reporting periods. Early adoption is permitted. The Company is currently evaluating the potential impact, if any, of the adoption of these amendments on its consolidated financial statements.
 
Recognition and Measurement of Financial Assets and Financial Liabilities
 
In
January
2016,
the FASB issued ASU
2016
-
01,
Recognition and Measurement of Financial Assets and Financial Liabilities. The update primarily requires that an entity should present separately, in other comprehensive income, the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk if the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The application of this update should be by means of cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments in this update are effective for financial statements issued for fiscal years beginning after
December
15,
2017,
and interim periods within those fiscal years. Early adoption is permitted as of the beginning of the fiscal year of adoption. The Company is currently evaluating the potential impact, if any, of the adoption of this update on its consolidated financial statements.
 
Simplifying the Measurement of Inventory
 
In
July
2015,
the FASB issued ASU
2015
-
11,
Simplifying the Measurement of Inventory, Topic
330.
The update contains no amendments to disclosure requirements, but replaces the concept of
‘lower of cost or market’ with that of ‘lower of cost and net realizable value’. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2016,
including interim periods within those reporting periods. The amendments should be applied prospectively with early adoption permitted. The Company estimates that the potential impact, if any, of the adoption of this update on its consolidated financial statements is immaterial.
 
Revenues from Contracts with Customers
 
In
May
2014,
the FASB issued ASU
2014
-
09,
Revenues from Contracts with Customers, Topic
606,
which was a joint project of the FASB and the International Accounting Standards Board to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards. The update provides that an entity should recognize revenue in connection with the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Specifically, an entity is required to apply each of the following steps:
(1)
identify the contract(s) with the customer;
(2)
identify the performance obligations in the contracts;
(3)
determine the transaction price;
(4)
allocate the transaction price to the performance obligation in the contract; and
(5)
recognize revenue when (or as) the entity satisfies a performance obligation. ASU
2014
-
09
also prescribes additional financial presentations and disclosures. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2017,
including interim periods within those reporting periods. Early adoption is permitted no earlier than
2017
for calendar fiscal year entities. The Company expects the adoption of this standard to have an immaterial impact, if any, on its Electricity segment as it accounts for its PPA
’s under ASC
840,
Leases. The Company still evaluates the potential impact of the adoption of the standard on its Product segment, however, it believes that such impact, if any, will be immaterial.
 
In
March
2016,
the FASB issued ASU
2016
-
08,
Principal versus Agent Considerations. The amendment in this Update do not change the core principal of the guidance and are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations. When another entity is involved in providing goods or services to a customer, an entity is required to determine if the nature of its promise is to provide the specific good or service itself (that is, the entity is a principal) or to arrange for that good or service to be provided by the other party (that is, the entity is an agent). The guidance includes indicators to assist an entity in determining whether it acts as a principal or agent in a specified transaction. The amendments in this update are effective for annual reporting periods beginning after
December
15,
2017,
including interim periods within those reporting periods. Early adoption is permitted no earlier than
2017
for calendar fiscal year entities. The Company is currently evaluating the potential impact, if any, of the adoption of these amendments on its consolidated financial statements,
however, it believes that any such impact, if any, will be immaterial.
v3.6.0.2
Note 1 - Business and Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule Of Estimated Useful Lives [Table Text Block]
Buildings (in years)
    
 
25
 
  
Leasehold improvements (in years)
    
15
-
20
  
Machinery and equipment
— manufacturing and drilling (in years)
    
 
10
 
  
Machinery and equipment
— computers (in years)
    
3
-
5
  
Office equipment
— furniture and fixtures (in years)
    
5
-
15
  
Office equipment
— other (in years)
    
5
-
10
  
Automobiles (in years)
    
5
-
7
  
Schedule of Weighted Average Number of Shares [Table Text Block]
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(In thousands)
  
Weighted average number of shares used in computation of basic earnings per share
    
49,469
      
48,562
      
45,508
  
Add:
                        
Additional shares from the assumed exercise of employee stock options
    
671
      
625
      
351
  
                         
Weighted average number of shares used in computation of diluted earnings per share
    
50,140
      
49,187
      
45,859
  
v3.6.0.2
Note 4 - Inventories (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Inventory, Current [Table Text Block]
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Raw materials and purchased parts for assembly
   $
5,429
     $
8,819
  
Self-manufactured assembly parts and finished products
    
6,571
      
9,255
  
Total
   $
12,000
     $
18,074
  
v3.6.0.2
Note 5 - Cost and Estimated Earnings on Uncompleted Contracts (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Cost And Estimated Earnings On Uncompleted Contracts [Table Text Block]
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Costs and estimated earnings incurred on uncompleted contracts
   $
402,357
     $
279,176
  
Less billings to date
    
(381,789
 )    
(287,948
 )
Total
   $
20,568
     $
(8,772
 )
Cost And Estimated Earnings On Uncompleted Contracts Included In Consolidated Balance Sheets [Table Text Block]
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Costs and estimated earnings in excess of billings on uncompleted contracts
   $
52,198
     $
25,120
  
Billings in excess of costs and estimated earnings on uncompleted contracts
    
(31,630
 )    
(33,892
 )
Total
   $
20,568
     $
(8,772
 )
v3.6.0.2
Note 6 - Accumulated Loss of Unconsolidated Company in Excess of Investment (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Equity Method Investments [Table Text Block]
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Sarulla
   $
(11,081
 )   $
(8,100
 )
v3.6.0.2
Note 7 - Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Variable Interest Entities [Table Text Block]
   
December 31, 2016
  
   
Project Debt
    
PPAs
  
   
(Dollars in thousands)
  
Assets:
                
Restricted cash and cash equivalents
   $
34,262
     $
—
  
Other current assets
    
157,351
      
7,482
  
Property, plant and equipment, net
    
1,305,254
      
177,970
  
Construction-in-process
    
48,128
      
72,725
  
Other long-term assets
    
24,802
      
—
  
Total assets
   $
1,569,797
     $
258,177
  
                 
Liabilities:
                
Accounts payable and accrued expenses
   $
10,900
     $
3,992
  
Long-term debt
    
668,815
      
—
  
Other long-term liabilities
    
126,879
      
5,779
  
Total liabilities
   $
806,594
     $
9,771
  
   
December 31, 2015
  
   
Project Debt
    
PPAs
    
   
(Dollars in thousands)
  
Assets:
                  
Restricted cash, cash equivalents and marketable securities
   $
49,503
     $
—
    
Other current assets
    
114,500
      
4,044
    
Property, plant and equipment, net
    
1,310,027
      
171,231
    
Construction-in-process
    
127,825
      
1,340
    
Other long-term assets
    
44,279
      
(1
 )  
Total assets
   $
1,646,134
     $
176,614
    
                   
Liabilities:
                  
Accounts payable and accrued expenses
   $
11,404
     $
2,931
    
Long-term debt
    
648,028
      
—
    
Other long-term liabilities
    
78,843
      
5,358
    
Total liabilities
   $
738,275
     $
8,289
    
v3.6.0.2
Note 8 - Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Fair Value, by Balance Sheet Grouping [Table Text Block]
   
 
 
 
  
December 31, 2016
  
   
 
 
 
  
Fair Value
  
   
Carrying
Value at
December
31, 2016
    
Total
    
Level 1
    
Level 2
    
Level 3
  
   
(Dollars in thousands)
  
Assets:
                                        
Current assets:
                                        
Cash equivalents (including restricted cash accounts)
   $
14,922
     $
14,922
     $
14,922
     $
—
     $
—
  
Derivatives:
                                        
Contingent receivable (1)
    
1,443
      
1,443
      
—
      
—
      
1,443
  
Liabilities:
                                        
Current liabilities:
                                        
Derivatives:
                                        
Contingent payables (1)
    
(11,581
 )    
(11,581
 )    
—
      
—
      
(11,581
 )
Warrants (1)
    
(3,429
 )    
(3,429
 )    
 
      
 
      
(3,429
 )
Currency forward contracts
(2)
    
(481
 )    
(481
 )    
—
      
(481
 )    
—
  
    $
874
     $
874
     $
14,922
     $
(481
 )   $
(13,567
 )
   
 
 
 
  
December 31, 2015
  
   
 
 
 
  
Fair Value
  
   
Carrying
Value at
December
31, 2015
    
Total
    
Level 1
    
Level 2
    
Level 3
  
   
(Dollars in thousands)
  
Assets
                                        
Current assets:
                                        
Cash equivalents (including restricted cash accounts)
   $
31,428
     $
31,428
     $
31,428
     $
—
     $
—
  
Derivatives:
                                        
Currency forward contracts
(2)
    
7
      
7
      
—
      
7
      
—
  
Liabilities:
                                        
Current liabilities:
                                        
Derivatives:
                                        
Currency forward contracts
(2)
    
(169
 )    
(169
 )    
—
      
(169
 )    
—
  
    $
31,266
     $
31,266
     $
31,428
     $
(162
 )   $
—
  
Derivative Instruments, Gain (Loss) [Table Text Block]
       
Amount of recognized gain (loss)
  
Derivatives not designated as hedging
instruments
  
Location of recognized gain
(loss)
  
2016
    
2015
    
2014
  
       
(Dollars in thousands)
  
                             
Call options on natural gas price
  
Derivatives and foreign currency transaction gain (losses)
   $
(1,340
 )   $
—
     $
—
  
Call and put options on oil price
  
Derivatives and foreign currency transaction gain (losses)
    
(1,313
 )    
—
      
—
  
Swap transaction on oil price
  
Electricity revenues
    
—
      
—
      
2,728
  
Swap transactions on natural gas price
  
Electricity revenues
    
—
      
1,158
      
2,996
  
Contingent considerations
  
Derivatives and foreign currency transaction gain (losses)
    
(1,527
 )    
—
      
—
  
Currency forward contracts
  
Derivatives and foreign currency transaction gain (losses)
    
238
      
(1,206
 )    
(4,949
 )
   
 
   $
(3,942
 )   $
(48
 )   $
775
  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
   
Fair Value
    
Carrying Amount
  
   
2016
   
2015
   
2016
   
2015
 
   
(Dollars in millions)
    
(Dollars in millions)
  
Olkaria III Loan - DEG
   $
16.3
     $
24.2
     $
15.8
     $
23.7
  
Olkaria III Loan - OPIC
    
253.4
      
262.6
      
246.6
      
264.6
  
Olkaria IV Loan - DEG 2
    
50.9
      
—
      
50.0
      
—
  
Amatitlan Loan
    
37.3
      
41.7
      
36.8
      
40.3
  
Senior Secured Notes:
                                
Ormat Funding Corp. ("OFC")
  
17.0
      
30.0
      
17.0
      
30.0
  
OrCal Geothermal Inc. ("OrCal")
    
37.4
      
43.8
      
35.2
      
43.3
  
OFC 2 LLC ("OFC 2")
    
249.0
      
231.1
      
247.2
      
262.0
  
Don A. Campbell 1 ("DAC1")
    
88.9
      
—
      
92.4
      
—
  
Senior Unsecured Bonds
    
200.1
      
264.5
      
204.3
      
250.0
  
Other long-term debt
    
10.4
      
6.7
      
11.2
      
6.7
  
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]
   
Level 1
    
Level 2
    
Level 3
    
Total
  
   
(Dollars in millions)
  
Olkaria III - DEG
   $
—
     $
—
     $
16.3
     $
16.3
  
Olkaria III - OPIC
    
—
      
—
      
253.4
      
253.4
  
Olkaria IV - DEG 2
    
—
      
—
      
50.9
      
50.9
  
Amatitlan loan
    
—
      
37.3
      
—
      
37.3
  
Senior Secured Notes:
                                
OFC
    
—
      
17.0
      
—
      
17.0
  
OrCal
    
—
      
—
      
37.4
      
37.4
  
OFC 2
    
—
      
—
      
249.0
      
249.0
  
Don A. Campbell 1 ("DAC1")
    
—
      
—
      
88.9
      
88.9
  
Senior unsecured bonds
    
—
      
—
      
200.1
      
200.1
  
Other long-term debt
    
—
      
3.3
      
7.1
      
10.4
  
Deposits
    
14.4
      
—
      
—
      
14.4
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
   
(Dollars in millions)
  
Olkaria III Loan - DEG
   $
—
     $
—
     $
24.2
     $
24.2
  
Olkaria III Loan - OPIC
    
—
      
—
      
262.6
      
262.6
  
Amatitlan Loan
    
—
      
41.7
      
—
      
41.7
  
Senior Secured Notes:
                                
OFC
    
—
      
30.0
      
—
      
30.0
  
OrCal
    
—
      
—
      
43.8
      
43.8
  
OFC 2
    
—
      
—
      
231.1
      
231.1
  
Senior unsecured bonds
    
—
      
—
      
264.5
      
264.5
  
Other long-term debt
    
—
      
6.7
      
—
      
6.7
  
Deposits
    
15.9
      
—
      
—
      
15.9
  
v3.6.0.2
Note 9 - Property, Plant and Equipment and Construction-in-process (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Property, Plant and Equipment [Table Text Block]
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Land owned by the Company where the geothermal resource is located
   $
31,904
     $
31,465
  
Leasehold improvements
    
3,848
      
3,691
  
Machinery and equipment
    
152,821
      
133,457
  
Land, buildings and office equipment
    
28,634
      
29,247
  
Automobiles
    
11,161
      
7,782
  
Geothermal and recovered energy generation power plants, including geothermal wells and exploration and resource development costs:
                
United States of America, net of cash grants and impairment charges
    
1,658,195
      
1,637,081
  
Foreign countries
    
541,626
      
494,105
  
Asset retirement cost
    
8,669
      
7,961
  
     
2,436,858
      
2,344,789
  
                 
Less accumulated depreciation
    
(880,480
 )    
(785,454
 )
                 
Property, plant and equipment, net
   $
1,556,378
     $
1,559,335
  
Construction In Progress [Table Text Block]
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Projects under exploration and development:
                
Up-front bonus lease costs
   $
17,385
     $
26,491
  
Exploration and development costs
    
36,359
      
35,726
  
Interest capitalized
    
703
      
703
  
     
54,447
      
62,920
  
Projects under construction:
                
Up-front bonus lease costs
    
37,713
      
27,473
  
Drilling and construction costs
    
202,211
      
150,467
  
Interest capitalized
    
12,338
      
7,975
  
     
252,262
      
185,915
  
Total
   $
306,709
     $
248,835
  
Rollforward Of Construction In Process [Table Text Block]
   
Projects under Exploration and Development
  
   
Up-front
Bonus Lease
Costs
    
Exploration
and
Development
Costs
    
Interest
Capitalized
    
Total
  
   
(Dollars in thousands)
  
Balance at December 31, 2013
   $
30,141
     $
38,220
     $
1,278
     $
69,639
  
Cost incurred during the year
    
—
      
19,231
      
—
      
19,231
  
Write off of unsuccessful exploration costs
    
(3,523
 )    
(11,474
 )    
(442
 )    
(15,439
 )
Balance at December 31, 2014
    
26,618
      
45,977
      
836
      
73,431
  
Cost incurred during the year
    
37
      
10,104
      
869
      
11,010
  
Write off of unsuccessful exploration costs
    
(164
 )    
(1,415
 )    
—
      
(1,579
 )
Transfer of projects under exploration and development to projects under construction
    
—
      
(18,940
 )    
(1,002
 )    
(19,942
 )
Balance at December 31, 2015
    
26,491
      
35,726
      
703
      
62,920
  
Cost incurred during the year
    
1,514
      
25,165
      
—
      
26,679
  
Write off of unsuccessful exploration costs
    
(380
 )    
(2,637
 )    
—
      
(3,017
 )
Transfer of projects under exploration and development to projects under construction
    
(10,240
 )    
(21,895
 )    
—
      
(32,135
 )
                                 
Balance at December 31, 2016
   $
17,385
     $
36,359
     $
703
     $
54,447
  
   
Projects under Construction
  
   
Up-front
Bonus Lease
Costs
    
Drilling and
Construction
Costs
    
Interest
Capitalized
    
Total
  
   
(Dollars in thousands)
  
Balance at December 31, 2013
   $
27,473
     $
184,766
     $
6,948
     $
219,187
  
Cost incurred during the year
    
—
      
132,597
      
3,206
      
135,803
  
Transfer of completed projects to property, plant and equipment
    
—
      
(105,126
 )    
(970
 )    
(106,096
 )
Sale of property, plant and equipment
    
—
      
(24,692
 )    
(911
 )    
(25,603
 )
                                 
Balance at December 31, 2014
    
27,473
      
187,545
      
8,273
      
223,291
  
                                 
Cost incurred during the year
    
—
      
140,977
      
3,556
      
144,533
  
Transfer of exploration and development projects to projects under construction
    
—
      
18,940
      
1,002
      
19,942
  
Transfer of completed projects to property, plant and equipment
    
—
      
(196,995
 )    
(4,856
 )    
(201,851
 )
Sale of property, plant and equipment
    
—
      
—
      
—
      
—
  
Balance at December 31, 2015
    
27,473
      
150,467
      
7,975
      
185,915
  
Cost incurred during the year
    
—
      
116,247
      
6,510
      
122,757
  
Transfer of exploration and development projects to projects under construction
    
10,240
      
21,895
      
—
      
32,135
  
Transafer of completed projects to property, plant and equipment
    
—
      
(86,398
 )    
(2,147
 )    
(88,545
 )
Balance at December 31, 2016
   $
37,713
     $
202,211
     $
12,338
     $
252,262
  
v3.6.0.2
Note 10 - Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
   
(Dollars in thousands)
  
Year ending December 31:
  
 
 
 
2017
   $
5,042
  
2018
    
4,912
  
2019
    
4,839
  
2020
    
4,522
  
2021
    
4,522
  
Thereafter
    
28,916
  
         
Total
   $
52,753
  
v3.6.0.2
Note 11 - Accounts Payable and Accrued Expenses (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Trade payables
   $
48,309
     $
41,364
  
Salaries and other payroll costs
    
17,977
      
14,671
  
Customer advances
    
576
      
2,533
  
Accrued interest
    
3,524
      
8,252
  
Income tax payable
    
8,824
      
11,353
  
Property tax payable
    
1,884
      
3,609
  
Scheduling and transmission
    
964
      
1,547
  
Royalty accrual
    
1,639
      
1,818
  
Other
    
7,953
      
6,808
  
Total
   $
91,650
     $
91,955
  
v3.6.0.2
Note 12 - Long-term Debt and Credit Agreements (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Long-term Debt Instruments [Table Text Block]
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Limited and non-recourse agreements:
                
Loans:
                
Non-recourse:
                
Other loans
   $
6,368
     $
-
  
Limited recourse:
                
Loan agreement with OPIC (the Olkaria III power plant)
    
246,630
      
264,624
  
Loan agreement with Banco Industrial S.A. and Westrust Bank (International) Limited
    
36,750
      
40,250
  
Senior Secured Notes:
                
Non-recourse:
                
Ormat Funding Corp. ("OFC")
    
17,026
      
29,968
  
OrCal Geothermal Inc. ("OrCal")
    
35,181
      
43,332
  
Don A. Campbell 1 ("DAC1")
    
92,361
      
 
  
Limited recourse:
                
OFC 2 LLC ("OFC 2")
    
247,232
      
261,959
  
     
681,548
      
640,133
  
Less current portion
    
(53,729
 )    
(51,425
 )
Non current portion
   $
627,819
     $
588,708
  
Full recourse agreements:
                
Senior unsecured bonds
   $
204,332
     $
249,981
  
Loans from institutional investors
    
3,333
      
6,667
  
Loan agreements with DEG (the Olkaria III and IV power plants)
    
65,789
      
23,684
  
Loan from a commercial bank
    
1,529
      
-
  
Revolving credit lines with banks
    
-
      
-
  
     
274,983
      
280,332
  
Less current portion
    
(12,242
 )    
(11,229
 )
Non current portion
   $
262,741
     $
269,103
  
Schedule of Maturities of Long-term Debt [Table Text Block]
   
(Dollars in
thousands)
  
         
Year ending December 31:
 
 
 
 
2017
   $
65,971
  
2018
    
64,805
  
2019
    
59,146
  
2020
    
126,870
  
2021
    
46,579
  
Thereafter
    
593,161
  
Total
   $
956,532
  
v3.6.0.2
Note 13 - Puna Power Plant Lease Transactions (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]
   
(Dollars in
thousands)
  
Year ending December 31:
  
 
 
 
2017
   $
8,747
  
2018
    
8,944
  
2019
    
6,018
  
2020
    
2,450
  
2021
    
1,723
  
Thereafter
    
2,740
  
Total
   $
30,622
  
v3.6.0.2
Note 15 - Asset Retirement Obligation (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Asset Retirement Obligations [Table Text Block]
   
Year Ended December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
Balance at beginning of year
   $
20,856
     $
19,142
  
Revision in estimated cash flows
    
303
      
(681
 )
Liabilities incurred
    
540
      
859
  
Accretion expense
    
1,649
      
1,536
  
Balance at end of year
   $
23,348
     $
20,856
  
v3.6.0.2
Note 16 - Stock-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
   
Year Ended December 31,
  
   
2016
    
2015
    
2014
  
   
(Dollars in thousands,
except per share data)
  
Cost of revenues
   $
2,400
     $
1,753
     $
3,076
  
Selling and marketing expenses
    
247
      
123
      
261
  
General and administrative expenses
    
2,510
      
2,079
      
2,234
  
Total stock-based compensation expense
    
5,157
      
3,955
      
5,571
  
Tax effect on stock-based compensation expense
    
617
      
440
      
836
  
Net effect of stock-based compensation expense
   $
4,540
     $
3,515
     $
4,735
  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
   
Year Ended December 31,
  
   
2016
    
2015
    
2014
  
For stock options issued by the Company:
                        
Risk-free interest rates
    
1.3
 %    
1.4
 %    
1.7
 %
Expected lives (in years)
    
4.5
      
4.0
      
5.1
  
Dividend yield
    
1.1
 %    
0.7
 %    
0.9
 %
Expected volatility
    
30.7
 %    
29.2
 %    
35.1
 %
Forfeiture rate (weighted average)
    
8.4
 %    
0
 %    
0
 %
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block]
   
Year Ended December 31,
 
   
2016
    
2015
    
2014
  
   
Shares
(in thousands)
    
Weighted Average Exercise Price
    
Shares
(in thousands)
    
Weighted Average Exercise Price
    
Shares
(in thousands)
    
Weighted Average Exercise Price
  
Outstanding at beginning of year
    
2,438
     $
25.38
      
4,477
     $
27.48
      
4,710
     $
28.23
  
Granted, at fair value:
                                                
Stock Options
    
1,155
      
43.01
      
45
      
38.24
      
485
      
29.05
  
SARs*
    
—
      
—
      
—
      
—
      
—
      
—
  
Exercised
    
(967
 )    
25.33
      
(1,589
 )    
26.77
      
(243
 )    
24.10
  
Forfeited
    
(57
 )    
24.12
      
(125
 )    
27.33
      
(116
 )    
23.20
  
Expired
    
(4
 )    
26.84
      
(370
 )    
45.78
      
(359
 )    
42.70
  
Outstanding at end of year
    
2,565
      
33.36
      
2,438
      
25.38
      
4,477
      
27.48
  
Options and SARs exercisable at end of year
    
557
      
25.22
      
858
      
26.75
      
2,106
      
31.25
  
Weighted-average fair value of options and SARs granted during the year
    
 
     $
11.61
      
 
     $
8.68
      
 
     $
9.00
  
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
 
 
 
  
Options Outstanding
   
Options Exercisable
  
Exercise Price
    
Number of
Stock-based
Awards
Outstanding
    
Weighted
Average
Remaining
Contractual
Life in Years
    
Aggregate
Intrinsic Value
   
Number of
Stock-based
Awards
Exercisable
    
Weighted
Average
Remaining
Contractual
Life in Years
    
Aggregate
Intrinsic Value
 
$ 18.56      
15
      
2.8
     $
526
      
15
      
2.8
     $
526
  
  19.69      
15
      
2.6
      
509
      
15
      
2.6
      
509
  
  20.13      
108
      
2.3
      
3,608
      
108
      
2.3
      
3,608
  
  20.54      
53
      
2.3
      
1,761
      
28
      
2.3
      
934
  
  23.34      
635
      
2.4
      
19,226
      
140
      
2.4
      
4,247
  
  24.57      
9
      
2.1
      
269
      
1
      
2.1
      
33
  
  25.65      
68
      
1.3
      
1,905
      
68
      
1.3
      
1,905
  
  26.70      
15
      
3.8
      
404
      
15
      
3.8
      
404
  
  28.23      
30
      
4.8
      
762
      
30
      
4.8
      
762
  
  29.52      
400
      
3.6
      
9,640
      
75
      
3.6
      
1,807
  
  29.95      
17
      
0.3
      
400
      
17
      
0.3
      
400
  
  35.15      
15
      
6.1
      
277
      
-
      
-
      
-
  
  38.24      
45
      
5.8
      
692
      
45
      
5.8
      
692
  
  42.87      
1,080
      
5.5
      
11,610
      
-
      
-
      
-
  
  47.46      
60
      
6.9
      
370
      
-
      
-
      
-
  
                                                     
                                                     
         
2,565
      
4.1
     $
51,959
      
557
      
2.7
     $
15,827
  
 
 
 
  
Options Outstanding
   
Options Exercisable
  
Exercise Price
    
Number of
Stock-based
Awards
Outstanding
    
Weighted
Average
Remaining
Contractual
Life in Years
    
Aggregate
Intrinsic Value
   
Number of
Stock-based
Awards
Exercisable
    
Weighted
Average
Remaining
Contractual
Life in Years
    
Aggregate
Intrinsic Value
 
$ 18.56      
15
      
3.8
     $
269
      
15
      
3.8
     $
269
  
  19.69      
15
      
3.6
      
252
      
15
      
3.6
      
252
  
  20.13      
326
      
3.3
      
5,327
      
69
      
3.3
      
1,135
  
  20.54      
100
      
3.3
      
1,593
      
50
      
3.3
      
797
  
  23.34      
938
      
3.4
      
12,315
      
126
      
3.4
      
1,655
  
  24.57      
33
      
3.1
      
387
      
16
      
3.1
      
193
  
  25.65      
135
      
2.3
      
1,462
      
135
      
2.3
      
1,462
  
  26.70      
45
      
4.8
      
440
      
45
      
4.8
      
440
  
  26.84      
64
      
0.2
      
618
      
64
      
0.2
      
618
  
  28.19      
15
      
1.8
      
124
      
15
      
1.8
      
124
  
  28.23      
45
      
5.8
      
371
      
45
      
5.8
      
371
  
  29.21      
3
      
1.3
      
22
      
3
      
1.3
      
22
  
  29.52      
400
      
4.6
      
2,780
      
-
      
-
      
-
  
  29.95      
148
      
1.3
      
963
      
148
      
1.3
      
963
  
  34.13      
96
      
0.3
      
225
      
96
      
0.3
      
225
  
  38.24      
15
      
6.8
      
-
      
-
      
-
      
-
  
  38.50      
15
      
0.8
      
-
      
15
      
0.8
      
-
  
                                                     
                                                     
         
2,438
      
3.3
     $
27,148
      
857
      
2.4
     $
8,526
  
Chief Financial Officer [Member]  
Notes Tables  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
Risk-free interest rates
    
0.81
 %
Expected life (in years)
    
3.375
  
Dividend yield
    
0.80
 %
Expected volatility
    
33.50
 %
Forfeiture rate
    
0.00
 %
   
Grant of options to
purchase 300,000
shares of common
stock
    
Grant of options to
purchase 100,000
shares of common
stock
  
Risk-free interest rates
    
2.36
 %    
1.64
 %
Expected life (in years)
    
7.25
      
4.75
  
Dividend yield
    
0.90
 %    
0.90
 %
Expected volatility
    
42.80
 %    
33.10
 %
Risk-free interest rates
    
1.30
 %
Expected life (in years)
    
4.0
  
Dividend yield
    
0.70
 %
Expected volatility
    
32.40
 %
Forfeiture rate
    
0.00
 %
Risk-free interest rates
    
1.35
 %
Expected life (in years)
    
4.0
  
Dividend yield
    
0.70
 %
Expected volatility
    
29.20
 %
Forfeiture rate
    
0.00
 %
Stock Appreciation Rights (SARs) [Member]  
Notes Tables  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
Risk-free interest rate
    
1.29
%
Expected life (in years)
    
6
  
Dividend yield
    
1.14
  
Expected volatility
    
30.7
%
Forfeiture rate:
        
Senior management
    
0.0
%
Other employees
    
10.5
%
Sub-Optimal Exercise Factor:
        
Senior management
    
2.5
  
Other employees
    
2.0
  
Risk-free interest rate
    
1.65
%
Expected life (in years)
    
7
  
Dividend yield
    
1.1
  
Expected volatility
    
30.6
%
Forfeiture rate:
    
0.0
%
Sub-Optimal Exercise Factor:
    
2.5
  
v3.6.0.2
Note 18 - Interest Expense, Net (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Other Nonoperating Expense, by Component [Table Text Block]
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Interest related to sale of tax benefits
   $
9,349
     $
9,620
     $
12,413
  
Interest expense
    
61,327
      
67,032
      
75,447
  
Less
— amount capitalized
    
(3,287
 )    
(4,075
 )    
(3,206
 )
    $
67,389
     $
72,577
     $
84,654
  
v3.6.0.2
Note 19 - Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
U.S
   $
(7,109
 )   $
(236
 )   $
(2,623
 )
Non-U.S. (foreign)
    
148,197
      
113,835
      
88,459
  
    $
141,088
     $
113,599
     $
85,836
  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Current:
                        
Federal
   $
—
     $
51
     $
—
  
State
    
(276
 )    
252
      
490
  
Foreign
    
14,040
      
19,175
      
13,983
  
    $
13,764
     $
19,478
     $
14,473
  
                         
Deferred:
                        
Foreign
    
18,073
      
(34,736
 )    
13,135
  
     
18,073
      
(34,736
 )    
13,135
  
    $
31,837
     $
(15,258
 )   $
27,608
  
Components Of Deferred Income Tax Expense Benefit [Table Text Block]
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Other deferred tax expense (exclusive of the effect of other components listed below)
   $
(1,105
 )   $
541
     $
(18,424
 )
Usage (benefit) of operating loss carryforwards - U.S.
    
(14,072
 )    
(30,596
 )    
7,764
  
Change in valuation allowance
    
16,411
      
(14,324
 )    
3,526
  
Change in foreign valuation allowance
    
—
      
(49,701
 )    
—
  
Change in foreign income tax
    
18,073
      
14,965
      
13,135
  
Change in lease transaction
    
—
      
(452
 )    
2,136
  
Change in tax monetization transaction
    
48,000
      
16,386
      
5,184
  
Change in depreciation
    
(55,462
 )    
28,370
      
9,431
  
Change in intangible drilling costs
    
10,227
      
10,335
      
(9,706
 )
Change in production tax credits and alternative minimum tax credit
    
(11,659
 )    
610
      
89
  
Basis difference in partnership interests
    
7,660
      
(10,870
 )    
—
  
    $
18,073
     $
(34,736
 )   $
13,135
  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
U.S. federal statutory tax rate
    
35.0
 %    
35.0
 %    
35.0
 %
Valuation allowance - U.S.
    
11.1
      
(1.4
 )    
(1.7
 )
Valuation allowance - foreign
    
-
      
(43.8
 )    
 
  
Tax monetization
    
-
      
-
      
2.5
  
State income tax, net of federal benefit
    
(0.2
 )    
0.6
      
(0.7
 )
Effect of foreign income tax, net
    
(14.1
 )    
(5.1
 )    
(4.9
 )
Production tax credits
    
(8.3
 )    
(0.1
 )    
0.9
  
Subpart F income
    
0.3
      
1.3
      
1.4
  
Depletion
    
-
      
-
      
(1.1
 )
Other, net
    
(1.3
 )    
-
      
0.8
  
Effective tax rate
    
22.5
 %    
(13.5)
 %    
32.2
 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   
December 31,
  
   
2016
   
2015
 
   
(Dollars in thousands)
  
                 
Deferred tax assets (liabilities):
                
Net foreign deferred taxes, primarily depreciation
   $
(35,382
 )   $
(32,654
 )
Depreciation
    
148,419
      
87,943
  
Intangible drilling costs
    
(112,762
 )    
(102,013
 )
Net capital loss carryforward - U.S.
    
117,924
      
103,850
  
Tax monetization transaction
    
(105,789
 )    
(80,478
 )
Investment tax credits
    
1,341
      
1,341
  
Production tax credits
    
82,451
      
70,792
  
Stock options amortization
    
3,241
      
3,467
  
Basis difference in partnership interest    
(24,462
 )    
(16,801
 )
Accrued liabilities and other
    
(752
 )    
2,435
  
                 
     
74,229
      
37,882
  
Less - valuation allowance
    
(109,611
 )    
(70,536
 )
                 
Total
   $
(35,382
 )   $
(32,654
 )
Summary of Valuation Allowance [Table Text Block]
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Balance at beginning of the year
   $
70,536
     $
111,280
     $
114,806
  
Additions to (release of) valuation allowance
    
39,075
      
(40,744
 )    
(3,526
 )
Balance at end of the year
   $
109,611
     $
70,536
     $
111,280
  
Schedule Of Deferred Taxes Classified In Balance Sheet [Table Text Block]
   
Year Ended December 31,
  
                   
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Current deferred tax assets
   $
—
     $
—
     $
251
  
Current deferred tax liabilities
    
—
      
—
      
(975
 )
Non-current deferred tax liabilities
    
(35,382
 )    
(32,654
 )    
(66,219
 )
                         
    $
(35,382
 )   $
(32,654
 )   $
(66,943
 )
Summary of Income Tax Contingencies [Table Text Block]
   
Year Ended December 31,
  
                         
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Balance at beginning of year
   $
10,385
     $
7,511
     $
4,950
  
Additions based on tax positions taken in prior years
    
675
      
(198
 )    
230
  
Additions based on tax positions taken in the current year
    
1,059
      
4,386
      
2,980
  
Reduction based on tax positions taken in prior years
    
(6,381
 )    
(1,314
 )    
(649
 )
Balance at end of year
   $
5,738
     $
10,385
     $
7,511
  
Summary of Income Tax Examinations [Table Text Block]
Israel
    
2015
—
2016
  
Kenya
    
2001
—
2016
  
Guatemala
    
2010
—
2016
  
Philippines
    
2010
—
2016
  
New Zealand
    
2011
—
2016
  
v3.6.0.2
Note 20 - Business Segments (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   
Electricity
    
Product
    
Consolidated
 
   
(Dollars in thousands)
  
Year Ended December 31, 2016:
  
 
 
 
  
 
 
 
  
 
 
 
Net revenues from external customers
   $
436,292
     $
226,299
     $
662,591
  
Intersegment revenues
    
—
      
56,075
      
56,075
  
Depreciation and amortization expense
    
102,698
      
3,279
      
105,977
  
Operating income
    
126,828
      
75,054
      
201,882
  
Segment assets at period end
    
2,204,444
      
257,125
      
2,461,569
  
Expenditures for long-lived assets
    
147,211
      
4,719
      
151,930
  
                         
Year Ended December 31, 2015:
  
 
 
 
  
 
 
 
  
 
 
 
Net revenues from external customers
   $
375,920
     $
218,724
     $
594,644
  
Intersegment revenues
    
—
      
48,559
      
48,559
  
Depreciation and amortization expense
    
103,892
      
3,314
      
107,206
  
Operating income
    
99,345
      
64,716
      
164,061
  
Segment assets at period end
    
2,044,346
      
229,636
      
2,273,982
  
Expenditures for long-lived assets
    
149,666
      
2,784
      
152,450
  
                         
Year Ended December 31, 2014 :
  
 
 
 
  
 
 
 
  
 
 
 
Net revenues from external customers
   $
382,301
     $
177,223
     $
559,524
  
Intersegment revenues
    
—
      
44,718
      
44,718
  
Depreciation and amortization expense
    
97,826
      
2,973
      
100,799
  
Operating income
    
90,401
      
53,089
      
143,490
  
Segment assets at period end 
    
1,963,486
      
158,070
      
2,121,556
  
Expenditures for long-lived assets
    
155,323
      
3,458
      
158,781
  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]
   
Year Ended December 31,
  
                         
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Revenues:
                        
Total segment revenues
   $
662,591
     $
594,644
     $
559,524
  
Intersegment revenues
    
56,075
      
48,559
      
44,718
  
Elimination of intersegment revenues
    
(56,075
 )    
(48,559
 )    
(44,718
 )
Total consolidated revenues
   $
662,591
     $
594,644
     $
559,524
  
                         
Operating income:
                        
Operating income
   $
201,882
     $
164,061
     $
143,490
  
Interest income
    
971
      
297
      
312
  
Interest expense, net
    
(67,389
 )    
(72,577
 )    
(84,654
 )
Foreign currency translation and transaction losses
    
(5,534
 )    
(1,622
 )    
(5,839
 )
Income attributable to sale of equity interest
    
16,503
      
25,431
      
24,143
  
Gain from sale of property, plant and equipment
    
—
      
—
      
7,628
  
Other non-operating income, net
    
(5,345
 )    
(1,991
 )    
756
  
Total consolidated income before income taxes and equity in income of investees
   $
141,088
     $
113,599
     $
85,836
  
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]
   
Year Ended December 31,
  
                   
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Revenues from external customers attributable to:
(1)
                        
United States
   $
307,025
     $
286,509
     $
293,710
  
Indonesia
    
100,856
      
93,191
      
38,174
  
Kenya
    
109,270
      
86,545
      
86,074
  
Turkey
    
46,270
      
57,356
      
86,340
  
Chile
    
58,032
      
34,478
      
—
  
Guatemala
    
30,086
      
27,897
      
28,439
  
Other foreign countries
    
11,052
      
8,668
      
26,787
  
Consolidated total
   $
662,591
     $
594,644
     $
559,524
  
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]
   
Year Ended December 31,
  
                   
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
                         
Long-lived assets (primarily power plants and related assets) located in:
                        
United States
   $
1,414,523
     $
1,374,465
     $
1,369,136
  
Kenya
    
327,157
      
375,257
      
330,200
  
Other foreign countries
    
199,559
      
107,407
      
90,735
  
                         
Consolidated total
   $
1,941,239
     $
1,857,129
     $
1,790,071
  
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]
   
Year Ended December 31,
  
                                                 
   
2016
   
2015
   
2014
 
   
Revenues
    
%
    
Revenues
    
%
    
Revenues
    
%
  
   
(Dollars in thousands)
    
 
 
 
  
(Dollars in thousands)
    
 
 
 
  
(Dollars in thousands)
    
 
 
 
Southern California Edison
(1)
   $
33,552
      
5.1
     $
56,026
      
9.4
     $
75,803
      
13.5
  
Southern California Public Power Authority 
(1)
    
67,566
      
10.2
      
30,947
      
5.2
      
21,799
      
3.9
  
Sierra Pacific Power Company and Nevada Power Company
(1)(2)
    
127,226
      
19.2
      
115,876
      
19.5
      
92,580
      
16.5
  
Hyundai (3)
    
100,856
      
15.2
      
93,131
      
15.7
      
38,174
      
6.8
  
KPLC
(1)
    
109,270
      
16.5
      
86,545
      
14.6
      
86,074
      
15.4
  
v3.6.0.2
Note 21 - Transactions with Related Entities (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Related Party Transactions [Table Text Block]
   
Year Ended December 31,
  
   
2016
   
2015
   
2014
 
   
(Dollars in thousands)
  
Property rental fee expense paid to the Parent
   $
—
     $
303
     $
1,821
  
Corporate financial, administrative, executive services, and research and development services provided to the Parent
   $
—
     $
148
     $
148
  
Services rendered by an indirect shareholder of the Parent
   $
—
     $
15
     $
51
  
v3.6.0.2
Note 22 - Employee Benefit Plan (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Schedule of Expected Benefit Payments [Table Text Block]
       
(
Dollars in thousands
)
  
Year ending December 31
:
  
 
 
 
201
7
 
 
   $
1,867
  
201
8
 
 
    
2,497
  
201
9
 
 
    
1,655
  
20
20
 
 
    
1,119
  
20
21
 
 
    
1,400
  
20
22
-
2026
    
5,141
  
 
 
 
   $
13,679
  
v3.6.0.2
Note 24 - Quarterly Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2016
Notes Tables  
Quarterly Financial Information [Table Text Block]
   
Three Months Ended
  
   
Mar. 31,
2015
    
June 30,
2015
    
Sept. 30,
2015
    
Dec. 31,
2015
    
Mar. 31,
2016
    
June 30,
2016
    
Sept. 30,
2016
    
Dec. 31,
2016
  
   
(Dollars in thousands, except per share amounts)
  
Revenues:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Electricity
   $
89,953
     $
90,926
     $
97,245
     $
97,796
     $
107,868
     $
104,001
     $
109,795
     $
114,628
  
Product
    
30,278
      
49,561
      
65,607
      
73,278
      
43,726
      
55,860
      
74,822
      
51,891
  
Total revenues
    
120,231
      
140,487
      
162,852
      
171,074
      
151,594
      
159,861
      
184,617
      
166,519
  
Cost of revenues:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Electricity
    
55,581
      
62,522
      
61,501
      
63,008
      
63,686
      
62,243
      
66,481
      
69,163
  
Product
    
20,625
      
27,182
      
42,019
      
43,927
      
24,035
      
31,822
      
43,647
      
30,719
  
Total cost of revenues
    
76,206
      
89,704
      
103,520
      
106,935
      
87,721
      
94,065
      
110,128
      
99,882
  
Gross profit
    
44,025
      
50,783
      
59,332
      
64,139
      
63,873
      
65,796
      
74,489
      
66,637
  
Operating expenses:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Research and development expenses
    
363
      
414
      
335
      
668
      
349
      
595
      
1,086
      
732
  
Selling and marketing expenses
    
3,433
      
4,283
      
4,383
      
3,978
      
3,675
      
3,668
      
4,793
      
4,288
  
General and administrative expenses
    
10,204
      
7,443
      
7,950
      
9,185
      
8,749
      
8,783
      
19,093
      
10,085
  
Write-off of unsuccessful exploration activities
    
174
      
--
      
185
      
1,220
      
557
      
863
      
1,294
      
303
  
Operating income
    
29,851
      
38,643
      
46,479
      
49,088
      
50,543
      
51,887
      
48,223
      
51,229
  
Other income (expense):
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Interest income
    
9
      
44
      
53
      
191
      
320
      
245
      
266
      
140
  
Interest expense, net
    
(17,828
 )    
(18,859
 )    
(17,748
 )    
(18,142
 )    
(16,023
 )    
(18,401
 )    
(17,137
 )    
(15,828
 )
Foreign currency translation and transaction gains (losses)
    
(1,366
 )    
(571
 )    
1,296
      
(981
 )    
1,962
      
(4,332
 )    
(222
 )    
(2,942
 )
Income attributable to sale of tax benefits
    
5,552
      
4,731
      
8,634
      
6,514
      
4,398
      
4,519
      
3,463
      
4,123
  
Other non-operating income (expense), net
    
283
      
(1,675
 )    
(131
 )    
(468
 )    
191
      
49
      
(5,546
 )    
(39
 )
Income (loss) from continuing operations, before income taxes and equity in income of investees
    
16,501
      
22,313
      
38,583
      
36,202
      
41,391
      
33,967
      
29,047
      
36,683
  
Income tax benefit (provision)
    
(5,459
 )    
(6,056
 )    
38,211
      
(11,438
 )    
(9,509
 )    
(7,890
 )    
(11,988
 )    
(2,450
 )
Equity in income (losses) of investees
    
(775
 )    
(984
 )    
(3,133
 )    
(616
 )    
(937
 )    
(1,144
 )    
(2,653
 )    
(3,001
 )
Net income (loss)
    
10,267
      
15,273
      
73,661
      
24,148
      
30,945
      
24,933
      
14,406
      
31,232
  
Net loss (income) attributable to noncontrolling interest
    
(235
 )    
(859
 )    
(1,522
 )    
(1,160
 )    
(1,674
 )    
(584
 )    
(2,326
 )    
(3,002
 )
Net income (loss) attributable to the Company's stockholders
   $
10,032
     $
14,414
     $
72,139
     $
22,988
     $
29,271
     $
24,349
     $
12,080
     $
28,230
  
                                                                 
Earnings (loss) per share attributable to the Company's stockholders
                                                                
                                                                 
Basic:
                                                                
Net income
   $
0.21
     $
0.29
     $
1.47
     $
0.47
     $
0.60
     $
0.49
     $
0.24
     $
0.57
  
                                                                 
Diluted:
                                                                
Net income
   $
0.21
     $
0.28
     $
1.41
     $
0.46
     $
0.59
     $
0.49
     $
0.24
     $
0.56
  
                                                                 
Weighted average number of shares used in computation of earnings per share attributable to the Company's stockholders:
                                                                
                                                                 
Basic
    
47,244
      
48,881
      
49,023
      
49,074
      
49,173
      
49,456
      
49,599
      
49,647
  
Diluted
    
48,079
      
50,600
      
51,113
      
49,668
      
49,782
      
50,137
      
50,289
      
50,293
  
v3.6.0.2
Note 1 - Business and Significant Accounting Policies (Details Textual) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dividends, Common Stock, Cash                 $ 25,700,000 $ 12,700,000 $ 9,600,000  
Common Stock, Dividends, Per Share, Declared                 $ 0.52 $ 0.26 $ 0.21  
Cash, Cash Equivalents, and Short-term Investments $ 230,214,000       $ 185,919,000       $ 230,214,000 $ 185,919,000 $ 40,230,000 $ 57,354,000
Accounts Receivable, Net, Current 80,807,000       55,301,000       80,807,000 55,301,000    
Interest Costs Capitalized                 3,287,000 4,075,000 3,206,000  
Exploration Abandonment and Impairment Expense 303,000 $ 1,294,000 $ 863,000 $ 557,000 1,220,000 $ 185,000 $ 174,000 3,017,000 1,579,000 15,439,000  
Grants Received to Offset Exploration and Development Costs Incurred                 300,000 800,000 1,700,000  
Accumulated Amortization, Debt Issuance Costs 31,100,000       37,200,000       31,100,000 37,200,000    
Amortization of Debt Issuance Costs                 6,900,000 8,800,000 6,500,000  
Write off of Deferred Debt Issuance Cost                 100,000 500,000 700,000  
Deferred Costs, Leasing, Gross 4,200,000               $ 4,200,000      
Lease Payment Term                 23 years      
Interest Expense 15,828,000 17,137,000 18,401,000 16,023,000 18,142,000 17,748,000 18,859,000 17,828,000 $ 67,389,000 72,577,000 84,654,000  
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax                 12,000 44,000 228,000  
Income Tax Expense (Benefit) 2,450,000 $ 11,988,000 $ 7,890,000 $ 9,509,000 11,438,000 $ (38,211,000) $ 6,056,000 $ 5,459,000 31,837,000 (15,258,000) 27,608,000  
Research and Development Arrangement with Federal Government, Customer Funding to Offset Costs Incurred                 $ 0 $ 0 $ 600,000  
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount                 102,793 467,766 3,237,593  
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Debt Issuance Costs 17,700,000       19,100,000       $ 17,700,000 $ 19,100,000    
Provision for Doubtful Accounts                 0      
Line-of-credit Arrangements [Member]                        
Debt Issuance Costs, Line of Credit Arrangements, Net 1,100,000       1,000,000       1,100,000 1,000,000    
Reclassification out of Accumulated Other Comprehensive Income [Member]                        
Interest Expense                 (9,000) (27,000) $ (141,000)  
Income Tax Expense (Benefit)                 (3,000) (17,000) (87,000)  
Puna Geothermal Ventures [Member]                        
Deferred Costs, Leasing, Gross 4,200,000               $ 4,200,000      
Lease Payment Term                 23 years      
Deferred Costs, Leasing, Accumulated Amortization 2,100,000       2,000,000       $ 2,100,000 2,000,000    
Amortization of Deferred Leasing Fees                 $ 200,000 $ 200,000 200,000  
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Primary Customers [Member]                        
Concentration Risk, Percentage                 60.00% 66.00%    
Maximum [Member]                        
Cash, FDIC Insured Amount 250,000               $ 250,000      
Finite-Lived Intangible Asset, Useful Life                 25 years      
Maximum [Member] | Power Plants [Member]                        
Property, Plant and Equipment, Useful Life                   30 years    
Minimum [Member]                        
Finite-Lived Intangible Asset, Useful Life                 13 years      
Minimum [Member] | Power Plants [Member]                        
Property, Plant and Equipment, Useful Life                 15 years      
UNITED STATES                        
Cash, Cash Equivalents, and Short-term Investments 72,500,000       19,000,000       $ 72,500,000 $ 19,000,000    
Foreign Countries [Member]                        
Cash, Cash Equivalents, and Short-term Investments 166,200,000       181,000,000       166,200,000 181,000,000    
Accounts Receivable, Net, Current $ 53,300,000       $ 27,800,000       53,300,000 27,800,000    
Twilight Site in Oregon [Member]                        
Exploration Abandonment and Impairment Expense                 $ 1,000,000      
Wister Site in California [Member]                        
Exploration Abandonment and Impairment Expense                     8,100,000  
Mount Spur Site in Alaska [Member]                        
Exploration Abandonment and Impairment Expense                     $ 7,300,000  
Maui Site in Hawaii [Member]                        
Exploration Abandonment and Impairment Expense                   $ 1,000,000    
v3.6.0.2
Note 1 - Business and Significant Accounting Policies - Property, Plant, and Equipment Estimated Useful Life (Details)
 12 Months Ended
Dec. 31, 2016
Building [Member]  
Property, plant, and equipment estimated useful lives (Year) 25 years
Leasehold Improvements [Member] | Minimum [Member]  
Property, plant, and equipment estimated useful lives (Year) 15 years
Leasehold Improvements [Member] | Maximum [Member]  
Property, plant, and equipment estimated useful lives (Year) 20 years
Machinery And Equipment - Manufacturing And Drilling [Member]  
Property, plant, and equipment estimated useful lives (Year) 10 years
Machinery And Equipment - Computers [Member] | Minimum [Member]  
Property, plant, and equipment estimated useful lives (Year) 3 years
Machinery And Equipment - Computers [Member] | Maximum [Member]  
Property, plant, and equipment estimated useful lives (Year) 5 years
Furniture and Fixtures [Member] | Minimum [Member]  
Property, plant, and equipment estimated useful lives (Year) 5 years
Furniture and Fixtures [Member] | Maximum [Member]  
Property, plant, and equipment estimated useful lives (Year) 15 years
Office Equipment - Other [Member] | Minimum [Member]  
Property, plant, and equipment estimated useful lives (Year) 5 years
Office Equipment - Other [Member] | Maximum [Member]  
Property, plant, and equipment estimated useful lives (Year) 10 years
Automobiles [Member] | Minimum [Member]  
Property, plant, and equipment estimated useful lives (Year) 5 years
Automobiles [Member] | Maximum [Member]  
Property, plant, and equipment estimated useful lives (Year) 7 years
v3.6.0.2
Note 1 - Business and Significant Accounting Policies - Shares Used to Calculate Earnings Per Share (Details) - shares
shares in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Weighted average number of shares used in computation of basic earnings per share (in shares) 49,647 49,599 49,456 49,173 49,074 49,023 48,881 47,244 49,469 48,562 45,508
Additional shares from the assumed exercise of employee stock options (in shares)                 671 625 351
Weighted average number of shares used in computation of diluted earnings per share (in shares) 50,293 50,289 50,137 49,782 49,668 51,113 50,600 48,079 50,140 49,187 45,859
v3.6.0.2
Note 2 - Share Exchange Transaction (Details Textual) - USD ($)
$ in Millions
Feb. 12, 2015
Dec. 31, 2016
Dec. 31, 2015
Feb. 11, 2015
Common Stock, Shares, Outstanding   49,667,340 49,107,901  
Ormat Industries Ltd. [Member]        
Percentage of Public Float Before Transition to Noncontrolled Public Company       40.00%
Percentage of Public Float After Transition to Noncontrolled Public Company 76.00%      
Share Exchange Shares Granted Per Share 0.2592      
Conversion of Stock, Shares Issued 30,200,000      
Stock Issued During Period, Shares, New Issues 3,000,000      
Common Stock, Shares, Outstanding 48,500,000     45,500,000
Sale of Stock, Consideration Received on Transaction $ 15.4      
Ormat Industries Ltd. [Member] | Shares Issued to Self, Deducted [Member]        
Conversion of Stock, Shares Issued 27,200,000      
Ormat Industries Ltd. [Member] | Sale of Stock, Other Assets Received [Member]        
Sale of Stock, Consideration Received Per Transaction $ 0.6      
Ormat Industries Ltd. [Member] | Sale of Stock, Land and Buildings Received [Member]        
Sale of Stock, Consideration Received Per Transaction 12.1      
Ormat Industries Ltd. [Member] | Sale of Stock, Liabilities Assumed [Member]        
Sale of Stock, Consideration Received Per Transaction $ 0.5      
v3.6.0.2
Note 3 - Northleaf Transactions and Business Acquisition (Details Textual)
$ in Thousands, € in Millions
 1 Months Ended 7 Months Ended 12 Months Ended
Dec. 29, 2016
USD ($)
MWh
Nov. 23, 2016
USD ($)
Apr. 30, 2015
USD ($)
Jul. 31, 2016
USD ($)
MWh
Jul. 31, 2016
EUR (€)
MWh
Jul. 31, 2016
USD ($)
MWh
Jul. 31, 2016
EUR (€)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Noncontrolling Interest, Increase from Subsidiary Equity Issuance               $ 44,102 $ 156,635  
Payments to Acquire Businesses, Net of Cash Acquired               20,135
Goodwill               6,650  
Redeemable Noncontrolling Interest, Equity, Carrying Amount               4,772  
Stockholders' Equity Attributable to Noncontrolling Interest               91,582 93,873  
Viridity Energy, Inc. [Member]                    
Power Generated Under Contract | MWh 850                  
Number of Sites 3,000                  
Geothermie Bouillante SA (“GB”) [Member]                    
Expected Power Generating Capacity | MWh       14.75 14.75          
Power Utilization | MWh       13 13          
Number of Exploration Licenses Owned       2   2        
Business Acquisition, Expansion Capacity | MWh       45   45        
Business Acquisition, Percentage of Voting Interests Acquired       60.00%   60.00%        
Business Combination, Expected Ownership Interest       85.00%   85.00%        
Payments to Acquire Businesses, Net of Cash Acquired       $ 20,600            
Payments to Acquire Businesses, Additional Amount Subject to Achievement of Agreed upon Production Thresholds           $ 13,400 € 12.0      
Power Purchase Agreements Term           15 years 15 years      
Goodwill       7,100   $ 7,100        
Redeemable Noncontrolling Interest, Equity, Carrying Amount               5,000    
Stockholders' Equity Attributable to Noncontrolling Interest               8,300    
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual               8,100    
Geothermie Bouillante SA (“GB”) [Member] | Service Agreements [Member]                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles       $ 33,000   $ 33,000        
Geothermie Bouillante SA (“GB”) [Member] | After Further Invest in Two Years [Member]                    
Business Combination, Expected Ownership Interest       63.75%   63.75%        
Payments to Acquire Additional Interest in Subsidiaries       $ 8,400 € 7.5          
Geothermie Bouillante SA (“GB”) [Member] | Ormat Systems LTD and Caisse des Depots et Consignations (CDC) [Member]                    
Business Acquisition, Percentage of Voting Interests Acquired       80.00%   80.00%        
Business Combination, Co-acquisition, Percentage of Ownership Interest Allocated       75.00%   75.00%        
Geothermie Bouillante SA (“GB”) [Member] | Caisse des Depots et Consignations (CDC) [Member]                    
Business Combination, Co-acquisition, Percentage of Ownership Interest Allocated       25.00%   25.00%        
Viridity Energy, Inc. [Member]                    
Business Combination, Consideration Transferred $ 35,000                  
Additional Paid-in Capital [Member]                    
Noncontrolling Interest, Increase from Subsidiary Equity Issuance               7,834 71,165  
Noncontrolling Interest [Member]                    
Noncontrolling Interest, Increase from Subsidiary Equity Issuance               $ 36,268 $ 85,470  
ORPD LLC [Member] | Northleaf Transactions [Member]                    
Percentage of Equity Interest Sold     36.75%              
Number of Power Plant Units Across Recovered Energy Generation Assets     9              
Recovered Energy Generation Assets     3              
Sale of Stock, Consideration Received Per Transaction     $ 162,300              
Sale of Stock, Consideration Received on Transaction     156,800              
Payments of Stock Issuance Costs     5,500              
Sale of Stock, Taxable Gain (Loss)     102,100              
ORPD LLC [Member] | Northleaf Transactions [Member] | Additional Paid-in Capital [Member]                    
Noncontrolling Interest, Increase from Subsidiary Equity Issuance     71,300              
ORPD LLC [Member] | Northleaf Transactions [Member] | Noncontrolling Interest [Member]                    
Noncontrolling Interest, Increase from Subsidiary Equity Issuance     $ 85,500              
Second Phase of the Don A. Cambell Power Plant [Member] | Northleaf Transactions [Member]                    
Percentage of Equity Interest Sold   36.75%                
Sale of Stock, Consideration Received Per Transaction   $ 44,200                
Sale of Stock, Consideration Received on Transaction   44,100                
Payments of Stock Issuance Costs   100                
Sale of Stock, Taxable Gain (Loss)   21,400                
Second Phase of the Don A. Cambell Power Plant [Member] | Northleaf Transactions [Member] | Additional Paid-in Capital [Member]                    
Noncontrolling Interest, Increase from Subsidiary Equity Issuance   7,800                
Second Phase of the Don A. Cambell Power Plant [Member] | Northleaf Transactions [Member] | Noncontrolling Interest [Member]                    
Noncontrolling Interest, Increase from Subsidiary Equity Issuance   $ 36,300                
v3.6.0.2
Note 4- Inventories - Inventories, Current (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Raw materials and purchased parts for assembly $ 5,429 $ 8,819
Self-manufactured assembly parts and finished products 6,571 9,255
Total $ 12,000 $ 18,074
v3.6.0.2
Note 5 - Cost and Estimated Earnings on Uncompleted Contracts - Cost and Estimated Earnings on Uncompleted Contracts (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Costs and estimated earnings incurred on uncompleted contracts $ 402,357 $ 279,176
Less billings to date (381,789) (287,948)
Total $ 20,568  
Total   $ (8,772)
v3.6.0.2
Note 5 - Cost and Estimated Earnings on Uncompleted Contracts - Cost and Estimated Earnings on Uncompleted Contracts Included in Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Costs and estimated earnings in excess of billings on uncompleted contracts $ 52,198 $ 25,120
Billings in excess of costs and estimated earnings on uncompleted contracts (31,630) (33,892)
Total $ 20,568  
Total   $ (8,772)
v3.6.0.2
Note 6 - Accumulated Loss of Unconsolidated Company in Excess of Investment (Details Textual)
$ in Thousands
 3 Months Ended 12 Months Ended
Jun. 04, 2014
USD ($)
Dec. 31, 2016
USD ($)
Sep. 30, 2016
USD ($)
Jun. 30, 2016
USD ($)
Mar. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Sep. 30, 2015
USD ($)
Jun. 30, 2015
USD ($)
Mar. 31, 2015
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2016
USD ($)
MWh
Dec. 31, 2016
USD ($)
Dec. 31, 2016
USD ($)
Boe
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
May 23, 2014
USD ($)
May 16, 2014
USD ($)
Oct. 31, 2013
USD ($)
Number of Commercial Lenders in Funding Consortium                                   6  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax                         $ 1,185   $ 1,028 $ (8,112)      
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest   $ 31,232 $ 14,406 $ 24,933 $ 30,945 $ 24,148 $ 73,661 $ 15,273 $ 10,267       101,516   $ 123,349 $ 55,015      
Intersegment Eliminations [Member]                                      
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest                         $ 12,000            
London Interbank Offered Rate (LIBOR) [Member]                                      
Debt Instrument, Basis Spread on Variable Rate                             1.00%        
Sarulla [Member] | Lenders Consortium [Member]                                      
Senior Notes                                   $ 1,170,000  
Sarulla [Member]                                      
Jointly Owned Utility Plant, Proportionate Ownership Share   12.75%               12.75% 12.75% 12.75% 12.75% 12.75%          
Expected Power Generating Capacity                       330   321          
Contract Effective Date                   April 4, 2013                  
Power Plant Usage Agreement Term                   30 years                  
Number Of Phases Of Construction                     3                
Power Utilization | Boe                           110          
Percentage of Required Production Capacity   80.00%               80.00% 80.00% 80.00% 80.00% 80.00%          
Percentage of Required Injection Capacity   85.00%               85.00% 85.00% 85.00% 85.00% 85.00%          
Supply Commitment, Remaining Minimum Amount Committed                                     $ 255,600
Payments to Acquire Projects                         $ 3,600            
Sarulla [Member] | Interest Rate Swap [Member]                                      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax                         1,200   $ 1,000        
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax   $ (5,900)               $ (5,900) $ (5,900) $ (5,900) (5,900) $ (5,900)          
Sarulla [Member] | Interest Rate Swap [Member] | Sarulla Project Company [Member]                                      
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax                         $ 9,300   $ 8,000        
Sarulla [Member] | Lenders Consortium [Member] | Interest Rate Swap [Member]                                      
Proceeds from Issuance of Senior Long-term Debt $ 50,000                                    
Sarulla [Member] | Lenders Consortium [Member] | Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member]                                      
Debt Instrument, Basis Spread on Variable Rate 3.4565%                                    
Sarulla [Member] | Lenders Consortium [Member] | Subject to Fixed Interest Rate [Member]                                      
Senior Notes                                 $ 100,000    
Sarulla [Member] | Lenders Consortium [Member] | Subject to Fixed LIBOR Interest Rate [Member]                                      
Senior Notes                                 $ 1,070,000    
Sarulla [Member] | Lenders Consortium [Member] | Subject to Fixed LIBOR Interest Rate [Member] | Interest Rate Swap [Member]                                      
Senior Notes $ 960,000                                    
v3.6.0.2
Note 6 - Accumulated Loss of Unconsolidated Company in Excess of Investment - Unconsolidated Investments Mainly in Power Plants (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Sarulla $ (11,081) $ (8,100)
Sarulla [Member]    
Sarulla $ (11,081) $ (8,100)
v3.6.0.2
Note 7 - Variable Interest Entities - Assets and Liabilities for the Company's 2015 Variable Interest Entity (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Restricted cash and cash equivalents $ 34,262 $ 49,503  
Property, plant and equipment, net 1,556,378 1,559,335  
Construction-in-process 306,709 248,835  
Total assets [1] 2,461,569 2,273,982 $ 2,121,556
Accounts payable and accrued expenses 91,650 91,955  
Long-term debt 956,532    
Other long-term liabilities 21,294 1,776  
Total liabilities 1,286,790 1,190,108  
Property, plant and equipment, net 1,556,378 1,559,335  
Construction-in-process 306,709 248,835  
Variable Interest Entity, Primary Beneficiary [Member] | Project Debt [Member]      
Restricted cash and cash equivalents 34,262 49,503  
Other current assets 157,351 114,500  
Property, plant and equipment, net 1,305,254 1,310,027  
Construction-in-process 48,128 127,825  
Other long-term assets 24,802 44,279  
Total assets 1,569,797 1,646,134  
Accounts payable and accrued expenses 10,900 11,404  
Long-term debt 668,815 648,028  
Other long-term liabilities 126,879 78,843  
Total liabilities 806,594 738,275  
Property, plant and equipment, net 1,305,254 1,310,027  
Construction-in-process 48,128 127,825  
Variable Interest Entity, Primary Beneficiary [Member] | Power Purchase Agreements [Member]      
Restricted cash and cash equivalents  
Other current assets 7,482 4,044  
Property, plant and equipment, net 177,970 171,231  
Construction-in-process 72,725 1,340  
Other long-term assets (1)  
Total assets 258,177 176,614  
Accounts payable and accrued expenses 3,992 2,931  
Long-term debt  
Other long-term liabilities 5,779 5,358  
Total liabilities 9,771 8,289  
Property, plant and equipment, net 177,970 171,231  
Construction-in-process $ 72,725 $ 1,340  
[1] Including unconsolidated investments
v3.6.0.2
Note 8 - Fair Value of Financial Instruments (Details Textual)
BTU in Millions, $ in Millions
 1 Months Ended 3 Months Ended 10 Months Ended 11 Months Ended 12 Months Ended
Feb. 24, 2016
Boe
$ / item
Feb. 02, 2016
BTU
$ / item
Mar. 14, 2015
$ / BTU
Mar. 06, 2014
BTU
$ / BTU
Oct. 16, 2013
MWh
BTU
£ / item
bbl
Sep. 03, 2013
BTU
£ / item
Mar. 31, 2016
Boe
$ / item
Mar. 31, 2015
BTU
Dec. 31, 2016
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Feb. 28, 2016
$ / item
Derivative, Number of Options Rolled             2              
Gain (Loss) on Price Risk Derivative Instruments Not Designated as Hedging Instruments | $                     $ (2.4) $ (1.2) $ (4.9)  
Foreign Currency Gain (Loss) [Member]                            
Gain (Loss) on Price Risk Derivative Instruments Not Designated as Hedging Instruments | $                       $ 1.2 $ 5.7  
NGI Swap Contract [Member]                            
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU       2.2 4.2 4.4   2.4            
Underlying, Derivative Energy Measure     3,000,000 4,950,000 4,103,000 4,035,000                
New York Harbor ULSD Swap Contract [Member]                            
Underlying, Derivative Energy Measure | £ / item         125.15                  
Derivative, Nonmonetary Notional Amount, Volume | bbl         275,000                  
Fluctuation in Energy Rate | MWh         25                  
Henry Hub Natural Gas Future ("NG") Contracts [Member]                            
Derivative, Nonmonetary Notional Amount, Energy Measure | BTU   4.1                        
Derivative, Price Risk Option Strike Price   2                        
Henry Hub Natural Gas Future ("NG") Contracts [Member] | Call Option [Member]                            
Proceeds from Derivative Instrument, Investing Activities | $                   $ 1.9        
Brent Oil Future Contracts [Member]                            
Derivative, Nonmonetary Notional Amount, Energy Measure | Boe 185,000                          
Brent Oil Future Contracts [Member] | Minimum [Member]                            
Derivative, Price Risk Option Strike Price 32.8                          
Brent Oil Future Contracts [Member] | Maximum [Member]                            
Derivative, Price Risk Option Strike Price 35.5                          
Brent Oil Future Contracts [Member] | Call Option [Member]                            
Proceeds from Derivative Instrument, Investing Activities | $                 $ 1.1          
Rolled Two Existing Options [Member]                            
Derivative, Nonmonetary Notional Amount, Energy Measure | Boe             31,800              
Rolled Two Existing Options [Member] | Minimum [Member]                            
Derivative, Price Risk Option Strike Price             41              
Rolled Two Existing Options [Member] | Maximum [Member]                            
Derivative, Price Risk Option Strike Price             42.5              
Before Rolling Two Existing Options [Member] | Minimum [Member]                            
Derivative, Price Risk Option Strike Price                           32.8
Before Rolling Two Existing Options [Member] | Maximum [Member]                            
Derivative, Price Risk Option Strike Price                           33.5
Short Risk Reversal Transactions, Rolling Existing Call Option 1 [Member]                            
Derivative, Nonmonetary Notional Amount, Energy Measure | Boe             16,500              
Short Risk Reversal Transactions, Rolling Existing Call Option 1 [Member] | Minimum [Member]                            
Derivative, Price Risk Option Strike Price             28.5              
Short Risk Reversal Transactions, Rolling Existing Call Option 1 [Member] | Maximum [Member]                            
Derivative, Price Risk Option Strike Price             37.5              
Short Risk Reversal Transactions, Rolling Existing Call Option 2 [Member] | Minimum [Member]                            
Derivative, Price Risk Option Strike Price             28              
Short Risk Reversal Transactions, Rolling Existing Call Option 2 [Member] | Maximum [Member]                            
Derivative, Price Risk Option Strike Price             38.5              
v3.6.0.2
Note 8 - Fair Value of Financial Instruments - Financial Assets and Liabilities at Fair Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Reported Value Measurement [Member]    
Cash equivalents (including restricted cash accounts) $ 14,922 $ 31,428
874 31,266
Reported Value Measurement [Member] | Contingent Receivable [Member]    
Derivative Asset, Current [1] 1,443  
Reported Value Measurement [Member] | Currency Forward Contracts [Member]    
Derivative Asset, Current [2]   7
Derivative Liability, Current [2] (481) (169)
Reported Value Measurement [Member] | Contingent Payable [Member]    
Derivative Liability, Current [1] (11,581)  
Reported Value Measurement [Member] | Warrant [Member]    
Derivative Liability, Current [1] (3,429)  
Estimate of Fair Value Measurement [Member]    
Cash equivalents (including restricted cash accounts) 14,922 31,428
874 31,266
Estimate of Fair Value Measurement [Member] | Contingent Receivable [Member]    
Derivative Asset, Current [1] 1,443  
Estimate of Fair Value Measurement [Member] | Currency Forward Contracts [Member]    
Derivative Asset, Current [2]   7
Derivative Liability, Current [2] (481) (169)
Estimate of Fair Value Measurement [Member] | Contingent Payable [Member]    
Derivative Liability, Current [1] (11,581)  
Estimate of Fair Value Measurement [Member] | Warrant [Member]    
Derivative Liability, Current [1] (3,429)  
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]    
Cash equivalents (including restricted cash accounts) 14,922 31,428
14,922 31,428
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Contingent Receivable [Member]    
Derivative Asset, Current [1]  
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Currency Forward Contracts [Member]    
Derivative Asset, Current [2]  
Derivative Liability, Current [2]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Contingent Payable [Member]    
Derivative Liability, Current [1]  
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Warrant [Member]    
Derivative Liability, Current [1]  
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]    
Cash equivalents (including restricted cash accounts)
(481) (162)
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Contingent Receivable [Member]    
Derivative Asset, Current [1]  
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Currency Forward Contracts [Member]    
Derivative Asset, Current [2]   7
Derivative Liability, Current [2] (481) (169)
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Contingent Payable [Member]    
Derivative Liability, Current [1]  
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Warrant [Member]    
Derivative Liability, Current [1]  
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]    
Cash equivalents (including restricted cash accounts)
(13,567)
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Contingent Receivable [Member]    
Derivative Asset, Current [1] 1,443  
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Currency Forward Contracts [Member]    
Derivative Asset, Current [2]  
Derivative Liability, Current [2]
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Contingent Payable [Member]    
Derivative Liability, Current [1] (11,581)  
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Warrant [Member]    
Derivative Liability, Current [1] $ (3,429)  
[1] These amounts relate to contingent receivables and payables pertaining to the Guadeloupe power plant purchase transaction, valued primarily based on unobservable inputs and are included within "Prepaid expenses and other" and "Other long-term liabilities" on December 31, 2016 in the consolidated balance sheets with the corresponding gain or loss being recognized within "Derivatives and foreign currency transaction gains (losses)"? in the consolidated statement of operations and comprehensive income.
[2] These amounts relate to derivatives which represent currency forward contracts valued primarily based on observable inputs, including forward and spot prices for currencies, netted against contracted rates and then multiplied against notional amounts, and are included within "prepaid expenses and other" and "accounts payable and accrued expenses" on December 31, 2016 and December 31, 2015, in the consolidated balance sheet with the corresponding gain or loss being recognized within "Derivatives and foreign currency transaction gains (losses)" in the consolidated statement of operations and comprehensive income.
v3.6.0.2
Note 8 - Fair Value of Financial Instruments - Amounts of Gain (Loss) Recognized in Condensed Consolidated Statements on Derivative Instruments Not Designated as Hedges (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Call options on natural gas price $ (3,942) $ (48) $ 775
Foreign Currency Gain (Loss) [Member] | Call Option on Natural Gas Price [Member]      
Call options on natural gas price (1,340)
Foreign Currency Gain (Loss) [Member] | Call and Put Options on Oil Price [Member]      
Call options on natural gas price (1,313)
Foreign Currency Gain (Loss) [Member] | Contingent Considerations [Member]      
Call options on natural gas price (1,527)
Foreign Currency Gain (Loss) [Member] | Currency Forward Contracts [Member]      
Call options on natural gas price 238 (1,206) (4,949)
Electricity Revenues [Member] | Crude Oil Price Swap [Member]      
Call options on natural gas price 2,728
Electricity Revenues [Member] | Natural Gas Price Swap [Member]      
Call options on natural gas price $ 1,158 $ 2,996
v3.6.0.2
Note 8 - Fair Value of Financial Instruments - Fair Value of Long-term Debt Approximates Its Carrying Amount, Exceptions (Details) - USD ($)
$ in Millions
Dec. 31, 2016
Dec. 31, 2015
Estimate of Fair Value Measurement [Member]    
Fair value levels-secured, unsecured and long term debt $ 10.4 $ 6.7
Reported Value Measurement [Member]    
Fair value levels-secured, unsecured and long term debt 11.2 6.7
Olkaria III DEG [Member]    
Fair value levels-secured, unsecured and long term debt 16.3 24.2
Olkaria III DEG [Member] | Estimate of Fair Value Measurement [Member]    
Loans 16.3 24.2
Olkaria III DEG [Member] | Reported Value Measurement [Member]    
Loans 15.8 23.7
Olkaria III OPIC [Member]    
Fair value levels-secured, unsecured and long term debt 253.4 262.6
Olkaria III OPIC [Member] | Estimate of Fair Value Measurement [Member]    
Loans 253.4 262.6
Olkaria III OPIC [Member] | Reported Value Measurement [Member]    
Loans 246.6 264.6
Olkaria IV Loan - DEG 2 [Member]    
Fair value levels-secured, unsecured and long term debt 50.9  
Olkaria IV Loan - DEG 2 [Member] | Estimate of Fair Value Measurement [Member]    
Loans 50.9
Olkaria IV Loan - DEG 2 [Member] | Reported Value Measurement [Member]    
Loans 50.0
Amatitlan Loan [Member]    
Fair value levels-secured, unsecured and long term debt 37.3 41.7
Amatitlan Loan [Member] | Estimate of Fair Value Measurement [Member]    
Loans 37.3 41.7
Amatitlan Loan [Member] | Reported Value Measurement [Member]    
Loans 36.8 40.3
Ormat Funding Corp [Member]    
Fair value levels-secured, unsecured and long term debt 17.0 30.0
Ormat Funding Corp [Member] | Estimate of Fair Value Measurement [Member]    
Notes 17.0 30.0
Ormat Funding Corp [Member] | Reported Value Measurement [Member]    
Notes 17.0 30.0
Orcal Geothermal Inc [Member]    
Fair value levels-secured, unsecured and long term debt 37.4 43.8
Orcal Geothermal Inc [Member] | Estimate of Fair Value Measurement [Member]    
Notes 37.4 43.8
Orcal Geothermal Inc [Member] | Reported Value Measurement [Member]    
Notes 35.2 43.3
OFC Two Senior Secured Notes [Member]    
Fair value levels-secured, unsecured and long term debt 249.0 231.1
OFC Two Senior Secured Notes [Member] | Estimate of Fair Value Measurement [Member]    
Notes 249.0 231.1
OFC Two Senior Secured Notes [Member] | Reported Value Measurement [Member]    
Notes 247.2 262.0
Don A. Campbell 1 ("DAC1") [Member]    
Fair value levels-secured, unsecured and long term debt 88.9  
Don A. Campbell 1 ("DAC1") [Member] | Estimate of Fair Value Measurement [Member]    
Notes 88.9
Don A. Campbell 1 ("DAC1") [Member] | Reported Value Measurement [Member]    
Notes 92.4
Senior Unsecured Bonds [Member]    
Fair value levels-secured, unsecured and long term debt 200.1 264.5
Senior Unsecured Bonds [Member] | Estimate of Fair Value Measurement [Member]    
Senior Unsecured Bonds 200.1 264.5
Senior Unsecured Bonds [Member] | Reported Value Measurement [Member]    
Senior Unsecured Bonds $ 204.3 $ 250.0
v3.6.0.2
Note 8 - Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2016
Dec. 31, 2015
Deposits $ 14.4 $ 15.9
Fair Value, Inputs, Level 1 [Member]    
Deposits 14.4 15.9
Fair Value, Inputs, Level 2 [Member]    
Deposits
Fair Value, Inputs, Level 3 [Member]    
Deposits
Olkaria III DEG [Member]    
Fair value levels-secured, unsecured and long term debt 16.3 24.2
Olkaria III DEG [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt
Olkaria III DEG [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt
Olkaria III DEG [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt 16.3 24.2
Olkaria III OPIC [Member]    
Fair value levels-secured, unsecured and long term debt 253.4 262.6
Olkaria III OPIC [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt
Olkaria III OPIC [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt
Olkaria III OPIC [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt 253.4 262.6
Olkaria IV Loan - DEG 2 [Member]    
Fair value levels-secured, unsecured and long term debt 50.9  
Olkaria IV Loan - DEG 2 [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt  
Olkaria IV Loan - DEG 2 [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt  
Olkaria IV Loan - DEG 2 [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt 50.9  
Amatitlan Loan [Member]    
Fair value levels-secured, unsecured and long term debt 37.3 41.7
Amatitlan Loan [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt
Amatitlan Loan [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt 37.3 41.7
Amatitlan Loan [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt
Ormat Funding Corp [Member]    
Fair value levels-secured, unsecured and long term debt 17.0 30.0
Ormat Funding Corp [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt
Ormat Funding Corp [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt 17.0 30.0
Ormat Funding Corp [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt
Orcal Geothermal Inc [Member]    
Fair value levels-secured, unsecured and long term debt 37.4 43.8
Orcal Geothermal Inc [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt
Orcal Geothermal Inc [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt
Orcal Geothermal Inc [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt 37.4 43.8
OFC Two Senior Secured Notes [Member]    
Fair value levels-secured, unsecured and long term debt 249.0 231.1
OFC Two Senior Secured Notes [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt
OFC Two Senior Secured Notes [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt
OFC Two Senior Secured Notes [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt 249.0 231.1
Senior Unsecured Bonds [Member]    
Fair value levels-secured, unsecured and long term debt 200.1 264.5
Senior Unsecured Bonds [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt
Senior Unsecured Bonds [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt
Senior Unsecured Bonds [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt 200.1 264.5
Don A. Campbell 1 ("DAC1") [Member]    
Fair value levels-secured, unsecured and long term debt 88.9  
Don A. Campbell 1 ("DAC1") [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt  
Don A. Campbell 1 ("DAC1") [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt  
Don A. Campbell 1 ("DAC1") [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt 88.9  
Other Long-term Debt [Member]    
Fair value levels-secured, unsecured and long term debt 10.4 6.7
Other Long-term Debt [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair value levels-secured, unsecured and long term debt
Other Long-term Debt [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair value levels-secured, unsecured and long term debt 3.3 6.7
Other Long-term Debt [Member] | Fair Value, Inputs, Level 3 [Member]    
Fair value levels-secured, unsecured and long term debt $ 7.1
v3.6.0.2
Note 9 - Property, Plant and Equipment and Construction-in-process (Details Textual) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Depreciation $ 94.8 $ 95.2 $ 87.9
Depreciation Net Of Amortization Of Cash Grant 5.5 5.5 $ 5.3
Property, Plant and Equipment Including Construction In Progress, Net 1,376.1 1,335.0  
Property, Plant and Equipment, Cash Grant, Net 138.7 144.2  
Orzunil I de Electricidad, Limitada [Member]      
Property, Plant and Equipment Including Construction In Progress, Net 12.2 19.2  
Ortitlan Limitada [Member]      
Property, Plant and Equipment Including Construction In Progress, Net $ 40.3 46.0  
Kenya Power and Lighting Co Limited [Member]      
Power Purchase Agreements Term 20 years    
Zunil Power Plant In Guatemala [Member] | Instituto Nacional de Electrificacion (INDE) [Member]      
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners 3.00%    
Foreign Countries [Member]      
Property, Plant and Equipment Including Construction In Progress, Net $ 487.0 473.1  
KENYA | Power Plants [Member]      
Property, Plant and Equipment Including Construction In Progress, Net $ 315.0 $ 355.8  
v3.6.0.2
Note 9 - Property, Plant and Equipment and Construction-in-process - Property, Plant and Equipment, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Property, plant and equipment $ 2,436,858 $ 2,344,789
Asset retirement cost 8,669 7,961
Less accumulated depreciation (880,480) (785,454)
Property, plant and equipment, net 1,556,378 1,559,335
Land [Member]    
Property, plant and equipment 31,904 31,465
Leasehold Improvements [Member]    
Property, plant and equipment 3,848 3,691
Machinery and Equipment [Member]    
Property, plant and equipment 152,821 133,457
Office Equipment [Member]    
Property, plant and equipment 28,634 29,247
Automobiles [Member]    
Property, plant and equipment 11,161 7,782
Geothermal And Recovered Energy Generation Power Plants [Member] | UNITED STATES    
Property, plant and equipment 1,658,195 1,637,081
Geothermal And Recovered Energy Generation Power Plants [Member] | Foreign Countries [Member]    
Property, plant and equipment $ 541,626 $ 494,105
v3.6.0.2
Note 9 - Property, Plant and Equipment and Construction-in-process - Construction-in-process (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Construction-in-process $ 306,709 $ 248,835    
Projects Under Exploration And Development [Member]        
Construction-in-process 54,447 62,920 $ 73,431 $ 69,639
Projects Under Exploration And Development [Member] | Up-front Bonus Lease Costs [Member]        
Construction-in-process 17,385 26,491 26,618 30,141
Projects Under Exploration And Development [Member] | Exploration And Development Costs [Member]        
Construction-in-process 36,359 35,726 45,977 38,220
Projects Under Exploration And Development [Member] | Interest Capitalized [Member]        
Construction-in-process 703 703 $ 836 $ 1,278
Projects Under Construction [Member]        
Construction-in-process 252,262 185,915    
Projects Under Construction [Member] | Up-front Bonus Lease Costs [Member]        
Construction-in-process 37,713 27,473    
Projects Under Construction [Member] | Interest Capitalized [Member]        
Construction-in-process 12,338 7,975    
Projects Under Construction [Member] | Drilling And Construction Costs [Member]        
Construction-in-process $ 202,211 $ 150,467    
v3.6.0.2
Note 9 - Property, Plant and Equipment and Construction-in-process - Activity in Construction and Development (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Balance       $ 248,835         $ 248,835    
Write off of unsuccessful exploration costs $ (303) $ (1,294) $ (863) (557) $ (1,220) $ (185) $ (174) (3,017) $ (1,579) $ (15,439)
Balance 306,709       248,835       306,709 248,835  
Projects Under Exploration And Development [Member]                      
Balance       62,920       73,431 62,920 73,431 69,639
Cost incurred during the year                 26,679 11,010 19,231
Write off of unsuccessful exploration costs                 (3,017) (1,579) (15,439)
Balance 54,447       62,920       54,447 62,920 73,431
Transfer of projects under exploration and development to projects under construction                 (32,135) (19,942)  
Projects Under Exploration And Development [Member] | Up-front Bonus Lease Costs [Member]                      
Balance       26,491       26,618 26,491 26,618 30,141
Cost incurred during the year                 1,514 37
Write off of unsuccessful exploration costs                 (380) (164) (3,523)
Balance 17,385       26,491       17,385 26,491 26,618
Transfer of projects under exploration and development to projects under construction                 (10,240)  
Projects Under Exploration And Development [Member] | Exploration And Development Costs [Member]                      
Balance       35,726       45,977 35,726 45,977 38,220
Cost incurred during the year                 25,165 10,104 19,231
Write off of unsuccessful exploration costs                 (2,637) (1,415) (11,474)
Balance 36,359       35,726       36,359 35,726 45,977
Transfer of projects under exploration and development to projects under construction                 (21,895) (18,940)  
Projects Under Exploration And Development [Member] | Interest Capitalized [Member]                      
Balance       703       836 703 836 1,278
Cost incurred during the year                 869
Write off of unsuccessful exploration costs                 (442)
Balance 703       703       703 703 836
Transfer of projects under exploration and development to projects under construction                 (1,002)  
Construction in Progress [Member]                      
Balance       185,915       223,291 185,915 223,291 219,187
Cost incurred during the year                 122,757 144,533 135,803
Balance 252,262       185,915       252,262 185,915 223,291
Transfer of projects under exploration and development to projects under construction                 32,135 19,942  
Transfer of completed projects to property, plant and equipment                 (88,545) (201,851) (106,096)
Sale of property, plant and equipment                   (25,603)
Construction in Progress [Member] | Up-front Bonus Lease Costs [Member]                      
Balance       27,473       27,473 27,473 27,473 27,473
Cost incurred during the year                
Balance 37,713       27,473       37,713 27,473 27,473
Transfer of projects under exploration and development to projects under construction                 10,240  
Transfer of completed projects to property, plant and equipment                
Sale of property, plant and equipment                  
Construction in Progress [Member] | Drilling And Construction Costs [Member]                      
Balance       150,467       187,545 150,467 187,545 184,766
Cost incurred during the year                 116,247 140,977 132,597
Balance 202,211       150,467       202,211 150,467 187,545
Transfer of projects under exploration and development to projects under construction                 21,895 18,940  
Transfer of completed projects to property, plant and equipment                 (86,398) (196,995) (105,126)
Sale of property, plant and equipment                   (24,692)
Construction in Progress [Member] | Interest Capitalized [Member]                      
Balance       $ 7,975       $ 8,273 7,975 8,273 6,948
Cost incurred during the year                 6,510 3,556 3,206
Balance $ 12,338       $ 7,975       12,338 7,975 8,273
Transfer of projects under exploration and development to projects under construction                 1,002  
Transfer of completed projects to property, plant and equipment                 $ (2,147) (4,856) (970)
Sale of property, plant and equipment                   $ (911)
v3.6.0.2
Note 10 - Intangible Assets and Goodwill (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Jul. 31, 2016
Finite-Lived Intangible Assets, Net $ 52,753,000 $ 25,900,000    
Finite-Lived Intangible Assets, Accumulated Amortization 42,800,000 38,400,000    
Amortization of Intangible Assets 4,400,000 3,300,000 $ 3,300,000  
Increase (Decrease) in Intangible Assets, Current 33,000,000 500,000 0  
Finite Lived Intangible Assets, Disposals 0 0 $ 0  
Goodwill 6,650,000    
Goodwill, Period Increase (Decrease), Except for Currency Translation Adjustment $ 0      
Geothermie Bouillante SA (“GB”) [Member]        
Goodwill       $ 7,100,000
v3.6.0.2
Note 10 - Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($)
Dec. 31, 2016
Dec. 31, 2015
2017 $ 5,042,000  
2018 4,912,000  
2019 4,839,000  
2020 4,522,000  
2021 4,522,000  
Thereafter 28,916,000  
Total $ 52,753,000 $ 25,900,000
v3.6.0.2
Note 11 - Accounts Payable and Accrued Expenses - Accounts Payable and Accrued Expenses (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Trade payables $ 48,309 $ 41,364
Salaries and other payroll costs 17,977 14,671
Customer advances 576 2,533
Accrued interest 3,524 8,252
Income tax payable 8,824 11,353
Property tax payable 1,884 3,609
Scheduling and transmission 964 1,547
Royalty accrual 1,639 1,818
Other 7,953 6,808
Total $ 91,650 $ 91,955
v3.6.0.2
Note 12 - Long-term Debt and Credit Agreements (Details Textual)
 1 Months Ended 3 Months Ended 12 Months Ended
Dec. 21, 2016
USD ($)
Nov. 29, 2016
USD ($)
Sep. 14, 2016
USD ($)
Jul. 31, 2015
USD ($)
MWh
Feb. 28, 2013
USD ($)
Nov. 30, 2012
USD ($)
Jul. 01, 2009
USD ($)
Aug. 18, 2014
USD ($)
Jun. 20, 2014
USD ($)
Nov. 30, 2013
USD ($)
May 31, 2013
USD ($)
Oct. 31, 2012
USD ($)
Feb. 29, 2012
USD ($)
Oct. 31, 2011
USD ($)
Nov. 30, 2010
USD ($)
Jul. 31, 2009
USD ($)
Mar. 31, 2009
USD ($)
Mar. 30, 2009
USD ($)
Dec. 31, 2005
USD ($)
Feb. 29, 2004
USD ($)
Sep. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
Mar. 31, 2014
USD ($)
Mar. 31, 2013
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Oct. 20, 2016
USD ($)
Jun. 30, 2016
Oct. 31, 2015
USD ($)
Aug. 29, 2014
USD ($)
Jan. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Aug. 23, 2012
USD ($)
Feb. 28, 2012
USD ($)
Sep. 30, 2011
USD ($)
Feb. 28, 2011
USD ($)
Aug. 31, 2010
USD ($)
Letters of Credit Outstanding, Amount                                                 $ 341,600,000                          
Repayments of Long-term Debt                                                 62,052,000 $ 71,701,000 $ 111,180,000                      
Payments for Derivative Instrument, Financing Activities                                                 1,505,000                      
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax                                                 87,000 91,000 (902,000)                      
Proceeds from Issuance of Unsecured Debt                                                 $ 203,483,000                      
Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio                                                 2.32                          
Stockholders' Equity Attributable to Parent                                                 $ 1,078,425,000 990,001,000                        
Percentage Of Company Assets                                                 47.53%                          
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest                                                 $ 1,170,007,000 1,083,874,000 786,746,000           $ 745,111,000          
Payments of Dividends                                                 25,700,000                          
Interest Rate Cap [Member]                                                                            
Payments for Derivative Instrument, Financing Activities               $ 1,500,000                                                            
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax                                                     900,000                      
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax                                                     $ 600,000                      
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net                                                 $ 100,000 $ 100,000                        
Covenant Requirement Minimum [Member]                                                                            
Amount Available For Dividend Distribution Percent Of Cumulative Net Income                                                 0.35                          
Stockholders' Equity Attributable to Parent                                                 $ 600,000,000                          
Percentage Of Company Assets                                                 25.00%                          
London Interbank Offered Rate (LIBOR) [Member]                                                                            
Debt Instrument, Basis Spread on Variable Rate                                                   1.00%                        
Maximum [Member] | Covenant Requirement Minimum [Member]                                                                            
Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio                                                 6                          
Loan Agreement with Banco Industrial S.A. and Westrust Bank (International) Limited [Member]                                                                            
Debt Instrument, Term       12 years                                                                    
Debt Instrument, Face Amount       $ 42,000,000                                                                    
Power Utilization | MWh       20                                                                    
Debt Instrument, Payment Frequency       12 years                                                                    
Long-term Debt, Gross                                                 $ 36,800,000                          
Loan Agreement with Banco Industrial S.A. and Westrust Bank (International) Limited [Member] | Historical [Member]                                                                            
Debt Services, Coverage Ratio                                                 1.87                          
Loan Agreement with Banco Industrial S.A. and Westrust Bank (International) Limited [Member] | Projected [Member]                                                                            
Debt Services, Coverage Ratio                                                 1.92                          
Loan Agreement with Banco Industrial S.A. and Westrust Bank (International) Limited [Member] | Covenant Requirement Minimum [Member]                                                                            
Debt Services, Coverage Ratio       1.15                                                                    
Loan Agreement with Banco Industrial S.A. and Westrust Bank (International) Limited [Member] | Covenant Required to not Limit Dividends [Member]                                                                            
Debt Services, Coverage Ratio       1.25                                                                    
Loan Agreement with Banco Industrial S.A. and Westrust Bank (International) Limited [Member] | London Interbank Offered Rate (LIBOR) [Member] | Guaranteed [Member]                                                                            
Debt Instrument, Basis Spread on Variable Rate       4.35%                                                                    
Loan Agreement with Banco Industrial S.A. and Westrust Bank (International) Limited [Member] | London Interbank Offered Rate (LIBOR) [Member] | Not Guaranteed [Member]                                                                            
Debt Instrument, Basis Spread on Variable Rate       4.75%                                                                    
Loan Agreement with Banco Industrial S.A. and Westrust Bank (International) Limited [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]                                                                            
Debt Instrument, Basis Spread on Variable Rate       1.25%                                                                    
Loan Agreement with OPIC [Member]                                                                            
Debt Instrument, Face Amount                                                                   $ 310,000,000        
Debt Services, Coverage Ratio                                                 1.7                          
Long-term Debt, Gross                                                 $ 246,600,000                          
Restricted Cash and Cash Equivalents, Current                                                 4,300,000 $ 7,200,000                        
Letters of Credit Outstanding, Amount                                                 $ 17,300,000                          
Loan Agreement with OPIC [Member] | In The First Two Years After The Plant2 Commercial Operation Date [Member]                                                                            
Debt Instrument, Prepayment Premium Percentage                                                 2.00%                          
Loan Agreement with OPIC [Member] | Third Year After the Plant 2 Commercial Operation Date [Member]                                                                            
Debt Instrument, Prepayment Premium Percentage                                                 1.00%                          
Loan Agreement with OPIC [Member] | Historical [Member]                                                                            
Debt Services, Coverage Ratio                                                 2.69                          
Loan Agreement with OPIC [Member] | Projected [Member]                                                                            
Debt Services, Coverage Ratio                                                 2.96                          
Loan Agreement with OPIC [Member] | Tranche One [Member]                                                                            
Debt Instrument, Face Amount           $ 85,000,000                                                                
Long-term Debt, Gross                                                 $ 66,000,000                          
Debt Instrument, Interest Rate, Stated Percentage                                                 6.31%                          
Loan Agreement with OPIC [Member] | Tranche Two [Member]                                                                            
Debt Instrument, Face Amount           180,000,000                                                                
Long-term Debt, Gross           135,000,000                                     $ 142,900,000                          
Proceeds from Issuance of Debt         $ 45,000,000                                                                  
Debt Instrument, Interest Rate, Stated Percentage                                                 2.00%                          
Loan Agreement with OPIC [Member] | Tranche Three [Member]                                                                            
Debt Instrument, Face Amount           45,000,000                                                                
Long-term Debt, Gross                                                 $ 37,600,000                          
Proceeds from Issuance of Debt                   $ 45,000,000                                                        
Debt Instrument, Interest Rate, Stated Percentage                                                 6.12%                          
Loan Agreement with OPIC [Member] | Threshold For Loan Default [Member]                                                                            
Debt Services, Coverage Ratio                                                     1.1                      
Loan Agreement with OPIC [Member] | Minimum [Member] | Historical [Member]                                                                            
Debt Services, Coverage Ratio                                                     1.4                      
Olkaria III DEG [Member]                                                                            
Debt Instrument, Face Amount                       $ 20,500,000         $ 77,000,000 $ 105,000,000                                        
Debt Instrument, Basis Spread on Variable Rate                                 4.00%                                          
Long-term Debt, Gross                                                 $ 15,800,000                          
Proceeds from Issuance of Debt             $ 15,000,000                     $ 90,000,000                                        
Debt Instrument, Interest Rate, Stated Percentage                                 6.90%                                          
Olkaria III DEG [Member] | Tranche One [Member]                                                                            
Prepayment Deposit On Debt           20,500,000                                                                
Prepayment Penalty Charges           $ 1,500,000                                                                
Olkaria III DEG [Member] | Subject to Fixed Interest Rate [Member] | Loans Payable [Member]                                                                            
Secured Debt                                                 10,800,000                          
Olkaria III DEG [Member] | London Interbank Offered Rate (LIBOR) [Member]                                                                            
Debt Instrument, Basis Spread on Variable Rate                       1.25%                                                    
Ormat Funding Corp [Member]                                                                            
Debt Instrument, Face Amount                                       $ 190,000,000                                    
Proceeds from Issuance of Debt                                       $ 179,700,000                                    
Debt Instrument, Interest Rate, Stated Percentage                                       8.25%                                    
Restricted Cash and Cash Equivalents, Current                                                 2,100,000 1,400,000                        
Letters of Credit Outstanding, Amount                                                 $ 11,500,000 11,600,000                        
Debt Instrument, Issuance Costs                                       $ 10,300,000                                    
Ormat Funding Corp [Member] | Senior Notes [Member]                                                                            
Debt Instrument, Repurchase Amount         $ 12,800,000                               $ 6,800,000 $ 30,600,000                   $ 13,200,000            
Gain (Loss) on Extinguishment of Debt                                         $ (600,000) $ (1,700,000) $ 300,000 $ 800,000                            
Ormat Funding Corp [Member] | Historical [Member]                                                                            
Debt Services, Coverage Ratio                                                 1.25                          
Ormat Funding Corp [Member] | Projected [Member]                                                                            
Debt Services, Coverage Ratio                                                 1.38                          
Ormat Funding Corp [Member] | Minimum [Member]                                                                            
Debt Services, Coverage Ratio                                       1.25                                    
Ormat Funding Corp [Member] | Minimum [Member] | Senior Notes [Member]                                                                            
Debt Instrument, Redemption Price, Percentage                                                 100.00%                          
Ormat Funding Corp [Member] | Maximum [Member] | Senior Notes [Member]                                                                            
Debt Instrument, Redemption Price, Percentage                                                 101.00%                          
Ormat Funding Corp Senior Secured Notes [Member] | Senior Notes [Member]                                                                            
Secured Debt                                                 $ 17,000,000 30,000,000                        
OrCal Senior Secured Notes [Member]                                                                            
Debt Instrument, Face Amount                                     $ 165,000,000                                      
Proceeds from Issuance of Debt                                     $ 161,100,000                                      
Debt Instrument, Interest Rate, Stated Percentage                                     6.21%                                      
Restricted Cash and Cash Equivalents, Current                                                 1,900,000 1,600,000                        
Letters of Credit Outstanding, Amount                                                 $ 35,200,000 43,300,000                        
Debt Instrument, Issuance Costs                                     $ 3,900,000                                      
Debt Instrument, Redemption Price, Percentage                                                 100.00%                          
OrCal Senior Secured Notes [Member] | Historical [Member]                                                                            
Debt Services, Coverage Ratio                                                 1.77                          
OrCal Senior Secured Notes [Member] | Projected [Member]                                                                            
Debt Services, Coverage Ratio                                                 2.57                          
OrCal Senior Secured Notes [Member] | Debt Service Reserve Backing [Member]                                                                            
Letters of Credit Outstanding, Amount                                                 $ 4,600,000 5,500,000                        
OrCal Senior Secured Notes [Member] | Minimum [Member]                                                                            
Debt Services, Coverage Ratio                                     1.25                                      
OFC Two Senior Secured Notes [Member]                                                                            
Debt Instrument, Face Amount                                                                       $ 350,000,000    
Government Guarantee Percent                                                 80.00%                          
Debtor-in-Possession Financing, Letters of Credit Outstanding                                                 $ 21,000,000                          
OFC Two Senior Secured Notes [Member] | Wholly Owned Subsidiaries With Project Debt [Member]                                                                            
Debt Instrument, Face Amount                                                             $ 140,000,000              
Debt Instrument, Interest Rate, Stated Percentage                                                             4.61%              
OFC Two Senior Secured Notes [Member] | Senior Notes [Member]                                                                            
Secured Debt                                                 $ 247,200,000 $ 262,000,000                        
OFC Two Senior Secured Notes [Member] | Historical [Member]                                                                            
Debt Services, Coverage Ratio                                                 2.09       2.49                  
OFC Two Senior Secured Notes [Member] | Projected [Member]                                                                            
Debt Services, Coverage Ratio                                                 2.05       1.98                  
OFC Two Senior Secured Notes [Member] | Phase One Series A Senior Notes [Member]                                                                            
Debt Instrument, Face Amount                           $ 151,700,000                                                
Proceeds from Issuance of Debt                           $ 141,100,000                                                
Debt Instrument, Interest Rate, Stated Percentage                           4.687%                                                
Repayments of Long-term Debt                 $ 4,300,000                                                          
Other Reserves                                                 $ 9,700,000           $ 28,000,000              
OFC Two Senior Secured Notes [Member] | McGinness Hills Phase II [Member]                                                                            
Letters of Credit Outstanding, Amount                                                 $ 53,400,000                          
OFC Two Senior Secured Notes [Member] | Minimum [Member] | Historical [Member]                                                                            
Debt Services, Coverage Ratio                                                 1.2                          
OFC Two Senior Secured Notes [Member] | Minimum [Member] | Projected [Member]                                                                            
Debt Services, Coverage Ratio                                                 1.5                          
Don A. Cambell Senior Secured Notes [Member]                                                                            
Debt Instrument, Face Amount   $ 92,500,000                                                                        
Debt Services, Coverage Ratio                                                 1.85                          
Proceeds from Issuance of Debt   $ 87,100,000                                                                        
Debt Instrument, Interest Rate, Stated Percentage   4.03%                                                                        
Secured Debt                                                 $ 92,400,000                          
Debt Instrument, Minimum Prepay Amount   $ 2,000,000                                                                        
Don A. Cambell Senior Secured Notes [Member] | Minimum [Member]                                                                            
Debt Services, Coverage Ratio   1.2                                                                        
Senior Unsecured Bonds [Member]                                                                            
Debt Instrument, Face Amount     $ 204,000,000                                                                   $ 107,500,000 $ 142,000,000
Debt Instrument, Interest Rate, Stated Percentage                                                                         6.75% 7.00%
Proceeds from Issuance of Unsecured Debt     250,000,000                                                                      
Senior Unsecured Bonds [Member] | Series 2 Bonds [Member]                                                                            
Debt Instrument, Face Amount     67,000,000                                                                      
Senior Unsecured Bonds [Member] | Series 3 Bonds [Member]                                                                            
Debt Instrument, Face Amount     137,000,000                                                                      
Senior Unsecured Bonds, Series 2 [Member]                                                                            
Debt Instrument, Face Amount     $ 67,000,000                                                                      
Debt Instrument, Interest Rate, Stated Percentage     3.70%                                                                      
Senior Unsecured Bonds, Series 3 [Member]                                                                            
Debt Instrument, Face Amount     $ 137,000,000                                                                      
Debt Instrument, Interest Rate, Stated Percentage     4.45%                                                                      
Institutional Investors [Member] | First Loan [Member]                                                                            
Debt Instrument, Term                               6 years                                            
Debt Instrument, Face Amount                               $ 20,000,000                                            
Debt Instrument, Interest Rate, Stated Percentage                               6.50%                                            
Institutional Investors [Member] | Second Loan [Member]                                                                            
Debt Instrument, Term                               8 years                                            
Debt Instrument, Face Amount                               $ 20,000,000                                            
Debt Instrument, Basis Spread on Variable Rate                               5.00%                                            
Long-term Line of Credit                                                 3,300,000                          
Institutional Investors [Member] | Third Loans [Member]                                                                            
Debt Instrument, Term                             6 years                                              
Debt Instrument, Face Amount                             $ 20,000,000                                              
Debt Instrument, Interest Rate, Stated Percentage                             5.75%                                              
Debt Instrument, Repurchase Amount                                                           $ 6,200,000                
DEG 2 Facility Agreement [Member]                                                                            
Debt Instrument, Interest Rate, Stated Percentage 6.28%                                                                          
Debt Instrument, Minimum Prepay Amount $ 5,000,000                                                                          
Long-term Line of Credit                                                 50,000,000                          
Line of Credit Facility, Maximum Borrowing Capacity                                                       $ 50,000,000                    
Proceeds from Lines of Credit $ 50,000,000                                                                          
Revolving Credit Lines with Commercial Banks [Member]                                                                            
Long-term Line of Credit                                                 0                          
Line of Credit Facility, Maximum Borrowing Capacity                                                 524,800,000                          
Revolving Credit Lines with Commercial Banks [Member] | Extensions Of Credit In The Form Of Loans And/Or Letters of Credit [Member]                                                                            
Line of Credit Facility, Maximum Borrowing Capacity                                                 215,000,000                          
Revolving Credit Lines with Commercial Banks [Member] | Issuance Of Letters Of Credit [Member]                                                                            
Letters of Credit Outstanding, Amount                                                 $ 309,800,000                          
Union Bank, N.A. [Member]                                                                            
Debt Services, Coverage Ratio                                                 2.54                          
Letters of Credit Outstanding, Amount                                                 $ 32,600,000                          
Line of Credit Facility, Maximum Borrowing Capacity                                                 $ 60,000,000                          
Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio                                                 2.95                          
Amount Available For Dividend Distribution Percent Of Cumulative Net Income                                                 0.81                          
Union Bank, N.A. [Member] | Minimum [Member]                                                                            
Debt Services, Coverage Ratio                         1.35                                                  
Line of Credit Facility, Maximum Borrowing Capacity                                                                     $ 39,000,000      
Union Bank, N.A. [Member] | Maximum [Member]                                                                            
Line of Credit Facility, Maximum Borrowing Capacity                         $ 60                                                  
Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio                         4.5                                                  
Amount Available For Dividend Distribution Percent Of Cumulative Net Income                         2                                                  
HSBC Bank USA, N.A. [Member]                                                                            
Debt Services, Coverage Ratio                                                 2.54                          
Letters of Credit Outstanding, Amount                                                 $ 23,200,000                          
Line of Credit Facility, Maximum Borrowing Capacity                     $ 35,000,000                           $ 35,000,000                          
Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio                                                 2.95                          
Amount Available For Dividend Distribution Percent Of Cumulative Net Income                                                 0.81                          
Line of Credit Facility, Borrowing Capacity Increase                     10,000,000                                                      
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases                     $ 10,000,000                                                      
HSBC Bank USA, N.A. [Member] | Minimum [Member]                                                                            
Debt Services, Coverage Ratio                     1.35                                                      
HSBC Bank USA, N.A. [Member] | Maximum [Member]                                                                            
Debt To Earnings Before Interest Tax Depreciation And Amortization Ratio                     4.5                                                      
Amount Available For Dividend Distribution Percent Of Cumulative Net Income                     2                                                      
v3.6.0.2
Note 12 - Long-term Debt and Credit Agreements - Long-term Debt (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
$ 681,548 $ 640,133
Less current portion (53,729) (51,425)
Non current portion 627,819 588,708
Recourse Debt 274,983 280,332
Less current portion (12,242) (11,229)
Non current portion 262,741 269,103
Other Loans, Limited and Non-recourse [Member]    
Non-Recourse Debt 6,368
Loan Agreement With OPIC The Olkaria III Power Plant [Member]    
Non-Recourse Debt 246,630 264,624
Loan Agreement with Banco Industrial S.A. and Westrust Bank (International) Limited [Member]    
Non-Recourse Debt 36,750 40,250
Ormat Funding Corp [Member]    
Non-Recourse Debt 17,026 29,968
Orcal Geothermal Inc [Member]    
Non-Recourse Debt 35,181 43,332
Don A. Campbell 1 ("DAC1") [Member]    
Non-Recourse Debt 92,361
OFC Two Senior Secured Notes [Member]    
Non-Recourse Debt 247,232 261,959
Senior Unsecured Bonds [Member]    
Recourse Debt 204,332 249,981
Institutional Investors [Member]    
Recourse Debt 3,333 6,667
Olkaria III DEG [Member]    
Recourse Debt 65,789 23,684
Loan From Commercial Bank [Member]    
Recourse Debt 1,529
Revolving Credit Lines With Banks [Member]    
Recourse Debt
v3.6.0.2
Note 12 - Long-term Debt and Credit Agreements - Future Minimum Payments Under Long-term Obligations (Details)
$ in Thousands
Dec. 31, 2016
USD ($)
2017 $ 65,971
2018 64,805
2019 59,146
2020 126,870
2021 46,579
Thereafter 593,161
Total $ 956,532
v3.6.0.2
Note 13 - Puna Power Plant Lease Transactions (Details Textual) - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2005
Dec. 31, 2015
Lease Term   31 years  
Deferred Revenue, Leases, Gross   $ 83,000,000  
Capital Leases, Balance Sheet, Assets by Major Class, Net $ 28,000,000   $ 30,700,000
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation $ 32,900,000   30,200,000
Lease Payment Term 23 years    
Deferred Costs, Leasing, Gross $ 4,200,000    
Restricted Cash and Cash Equivalents 2,900,000   2,100,000
Cash $ 0   $ 0
v3.6.0.2
Note 13 - Puna Power Plant Lease Transactions - Future Minimum Lease Payments Under the Project Lease (Details)
$ in Thousands
Dec. 31, 2016
USD ($)
2017 $ 8,747
2018 8,944
2019 6,018
2020 2,450
2021 1,723
Thereafter 2,740
Total $ 30,622
v3.6.0.2
Note 14 - Tax Monetization Transactions (Details Textual)
$ in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended 72 Months Ended
Dec. 31, 2022
Dec. 16, 2016
USD ($)
Feb. 03, 2011
USD ($)
Oct. 30, 2009
USD ($)
Jan. 31, 2014
Jan. 31, 2013
USD ($)
Jun. 30, 2007
Dec. 31, 2009
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2008
USD ($)
Dec. 31, 2007
USD ($)
Dec. 31, 2022
USD ($)
Mar. 31, 2017
USD ($)
Dec. 15, 2016
Mar. 31, 2016
USD ($)
Dec. 31, 2010
Oct. 03, 2009
Proceeds from Noncontrolling Interests                 $ 1,972 $ 1,654 $ 2,234                
Noncontrolling Interest, Increase from Subsidiary Equity Issuance                 44,102 156,635                  
Proceeds from Sales of Business, Affiliate and Productive Assets                 $ 35,250                
Proceeds from Additional Payments                                 $ 2,000    
Subsequent Event [Member]                                      
Proceeds from Additional Payments                             $ 1,600        
Opal Geo LLC [Member]                                      
Percentage Of Distributable Cash to Controlling Interest   97.50%                                  
Percentage of Income (Loss), Gain, Deduction and Credit Allocated to Controlling Interests   1.00%                                  
Percentage of Income (Loss), Gain, Deduction and Credit Allocated to Controlling Interests, PTCs Not Available   95.00%                                  
Opal Geo LLC [Member] | Scenario, Forecast [Member]                                      
Percentage of Income (Loss), Gain, Deduction and Credit Allocated to Controlling Interests 95.00%                                    
Opal Geo LLC [Member] | JPM Capital Corporation [Member]                                      
Proceeds from Noncontrolling Interests   $ 62,100                                  
Percentage Of Distributable Cash to Nontrolling Interests   2.50%                                  
Percentage of Income (Loss), Gain, Deduction and Credit Allocated to Noncontrolling Interests   99.00%                                  
Percentage of Income (Loss), Gain, Deduction and Credit Allocated to Noncontrolling Interests, PTCs Not Available   5.00%                                  
Opal Geo LLC [Member] | JPM Capital Corporation [Member] | Noncontrolling Interest [Member]                                      
Proceeds from Noncontrolling Interests   $ 3,700                                  
Opal Geo LLC [Member] | JPM Capital Corporation [Member] | Liability for Sale of Tax Benefit [Member]                                      
Proceeds from Noncontrolling Interests   $ 58,500                                  
Opal Geo LLC [Member] | JPM Capital Corporation [Member] | Scenario, Forecast [Member]                                      
Proceeds from Noncontrolling Interests                           $ 21,000          
Percentage Of Distributable Cash to Nontrolling Interests 100.00%                                    
Percentage of Income (Loss), Gain, Deduction and Credit Allocated to Noncontrolling Interests 5.00%                                    
Opal Geo LLC [Member] | JPM Capital Corporation [Member] | Capital Unit, Class B [Member]                                      
Percentage of Equity Interest Sold   100.00%                                  
Ormat Nevada ORTP LLC [Member]                                      
Percentage Of Ownership Interests                                   82.50%  
Number Of Facilities             4                        
Proceeds From Sale Of Equity Units                       $ 63,000 $ 71,800            
Percentage Of Ownership Interests Flip Date                                   95.00%  
Percentage Of Ownership Interests By Noncontrolling Owners Flip Date     5.00%                             5.00% 3.50%
Payments for Repurchase of Redeemable Noncontrolling Interest       $ 18,500                              
Gain From Repurchase Of Interests At Discount               $ 13,300                      
Adjustments To Additional Paid In Capital Purchase Of Noncontrolling Interest               $ 1,100                      
Percentage Of Ownership Interests Purchased From Noncontrolling Owners     1.50%         1.50%                      
Proceeds Sale Minority Interest     $ 24,900                                
Noncontrolling Interest, Increase from Subsidiary Equity Issuance     $ 2,300                                
Proceeds from Sales of Business, Affiliate and Productive Assets           $ 35,700                          
Additional Proceeds As Percentage Of Production Tax Credit           25.00%                          
Percentage Of Distributable Cash After Flip Date           97.50%                          
Percentage Of Taxable Income After Flip Date           95.00%                          
Percentage Allocation Of Income And Loss           5.00%                          
Percentage Allocation Of Cash           2.50%                          
Final Additional Payments Expected Date         Dec. 31, 2016                            
Ormat Nevada ORTP LLC [Member] | Maximum [Member]                                      
Expected Future Payments                 $ 11,000                    
Ormat Nevada ORTP LLC [Member] | Common Class A [Member]                                      
Common Stock Voting Rights Percentage           75.00%                          
Ormat Nevada ORTP LLC [Member] | Common Class B [Member]                                      
Common Stock Voting Rights Percentage           25.00%                          
Ormat Nevada ORTP LLC [Member] | Capital Unit, Class B [Member]                                      
Percentage Of Ownership Interests     7.50%                                
Ownership Percentage Of Common Shares Outstanding     30.00%                                
Ownership Percentage Of Common Shares Outstanding By Non Controlling Interest                                   70.00%  
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners                                   17.50%  
Ormat Nevada ORTP LLC [Member] | Capital Unit, Class A [Member]                                      
Percentage Of Ownership Interests     75.00%                                
DAC 2 [Member]                                      
Percentage Of Ownership Interests                               63.25%      
Other Geothermal Power Plants [Member]                                      
Percentage Of Ownership Interests                               100.00%      
Opal Geo LLC [Member] | Capital Unit, Class A [Member]                                      
Percentage Of Ownership Interests   100.00%                                  
OPC LLC [Member] | JPM Capital Corporation [Member] | Capital Unit, Class B [Member]                                      
Fair Value of Equity Interest Sold   $ 3,000                                  
Nevada [Member]                                      
Number of Power Plants   5                                  
v3.6.0.2
Note 15 - Asset Retirement Obligations - Reconciliation of the Beginning and Ending Aggregate Carrying Amount of Asset Retirement Obligation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Balance at beginning of year $ 20,856 $ 19,142
Revision in estimated cash flows 303 (681)
Liabilities incurred 540 859
Accretion expense 1,649 1,536
Balance at end of year $ 23,348 $ 20,856
v3.6.0.2
Note 16 - Stock-based Compensation (Details Textual) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Nov. 08, 2016
Jun. 13, 2016
Nov. 03, 2015
Nov. 05, 2014
Apr. 02, 2014
Feb. 11, 2014
May 31, 2012
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2004
Mar. 31, 2021
May 31, 2014
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized               $ 11.3     $ 11.3        
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition                     1 year 146 days        
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Annual Forfeiture Rate               10.30% 9.66% 8.02%          
Increase (Decrease) In Stock Based Compensation Expense Due To Forfeitures, Percent               7.00% 20.00% 12.00%          
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Dividends Growth Rate                     20.00%        
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Weighted Average Expected Dividend Rate                     1.10%        
Share Price               $ 53.62 $ 36.47   $ 53.62 $ 36.47      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number               557,350 842,911   557,350 842,911      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value                     $ 18.0 $ 14.1      
Weighted Average [Member]                              
Share Price               $ 43.99 $ 35.64   $ 43.99 $ 35.64      
2004 Stock Incentive Plan [Member] | Maximum [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period                         10 years    
2004 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized                         3,750,000    
2004 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche One [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage                         25.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period                         2 years    
2004 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche Two [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage                         25.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period                         3 years    
2004 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche Three [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage                         50.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period                         4 years    
2004 Stock Incentive Plan [Member] | Employee Stock Option [Member] | Non Employee Director [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period                         1 year    
2012 Stock Incentive Plan [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant               1,058,150     1,058,150        
2012 Stock Incentive Plan [Member] | Maximum [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period             10 years                
2012 Stock Incentive Plan [Member] | Officer [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized                             400,000
2012 Stock Incentive Plan [Member] | Chief Financial Officer [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross           32,500                  
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price           $ 24.57                  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value           $ 5.78                  
2012 Stock Incentive Plan [Member] | Chief Executive Officer [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross         400,000                    
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price         $ 29.52                    
2012 Stock Incentive Plan [Member] | Director [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period     1 year 1 year                      
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period     7 years 7 years                      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross     45,000 52,500                      
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price     $ 38.24 $ 28.23                      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value       $ 7.01                      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value     $ 8.68                        
2012 Stock Incentive Plan [Member] | Share-based Compensation Award, Tranche One [Member] | Chief Executive Officer [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period         4 years                    
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period         6 years                    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross         300,000                    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value         $ 12.88                    
2012 Stock Incentive Plan [Member] | Share-based Compensation Award, Tranche Two [Member] | Chief Executive Officer [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period         7 years 182 days                    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value         $ 8.33                    
2012 Stock Incentive Plan [Member] | Share-based Compensation Award, Tranche Two [Member] | Chief Executive Officer [Member] | Scenario, Forecast [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number                           100,000  
2012 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized             4,000,000                
2012 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche One [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage             25.00%                
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period             2 years                
2012 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche Two [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage             25.00%                
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period             3 years                
2012 Stock Incentive Plan [Member] | Stock Options And Stock Appreciation Rights [Member] | Share-based Compensation Award, Tranche Three [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage             50.00%                
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period             4 years                
2012 Stock Incentive Plan [Member] | Employee Stock Option [Member] | Non Employee Director [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period             1 year                
2012 Stock Incentive Plan [Member] | Employee Stock Option [Member] | Chief Financial Officer [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period           3 years                  
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period           5 years                  
2012 Stock Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period   4 years                          
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period   6 years                          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period   1,080,000                          
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Exercise Price   $ 42.87                          
2012 Stock Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | Director [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period 1 year                            
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period 7 years                            
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 14.51                            
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period 60,000                            
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Exercise Price $ 47.46                            
2012 Stock Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | Senior Management [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value   11.98                          
2012 Stock Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | Other Employees [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 11.42                          
2012 Stock Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | Share-based Compensation Award, Tranche One [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage   50.00%                          
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period   2 years                          
2012 Stock Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | Share-based Compensation Award, Tranche Two [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage   25.00%                          
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period   3 years                          
2012 Stock Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | Share-based Compensation Award, Tranche Three [Member]                              
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage   25.00%                          
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period   4 years                          
v3.6.0.2
Note 16 - Stock-based Compensation - Compensation Related to Stock-based Awards (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cost of revenues $ 5,157 $ 3,955 $ 5,571
Tax effect on stock-based compensation expense 617 440 836
Net effect of stock-based compensation expense 4,540 3,515 4,735
Cost of Sales [Member]      
Cost of revenues 2,400 1,753 3,076
Selling and Marketing Expense [Member]      
Cost of revenues 247 123 261
General and Administrative Expense [Member]      
Cost of revenues $ 2,510 $ 2,079 $ 2,234
v3.6.0.2
Note 16 - Stock-based Compensation - Fair Value of Stock-based Award on the Date of Grant (Details)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Risk-free interest rate 1.30% 1.40% 1.70%
Expected life (in years) (Year) 4 years 182 days 4 years 5 years 36 days
Dividend yield 1.10% 0.70% 0.90%
Expected volatility 30.70% 29.20% 35.10%
Forfeiture rate (weighted average) 8.40% 0.00% 0.00%
v3.6.0.2
Note 16 - Stock-based Compensation - Fair Value of Each Option Using Black-scholes Valuation Model Assumptions (Details)
 12 Months Ended
Nov. 03, 2015
Nov. 05, 2014
Feb. 11, 2014
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Risk-free interest rates       1.30% 1.40% 1.70%
Expected life (in years) (Year)       4 years 182 days 4 years 5 years 36 days
Dividend yield       1.10% 0.70% 0.90%
Expected volatility       30.70% 29.20% 35.10%
Chief Executive Officer [Member] | Options to Purchase 300,000 Shares of Common Stock [Member]            
Risk-free interest rates       2.36%    
Expected life (in years) (Year)       7 years 91 days    
Dividend yield       0.90%    
Expected volatility       42.80%    
Chief Executive Officer [Member] | Options to Purchase 100,000 Shares of Common Stock [Member]            
Risk-free interest rates       1.64%    
Expected life (in years) (Year)       4 years 273 days    
Dividend yield       0.90%    
Expected volatility       33.10%    
2012 Incentive Plan [Member] | Chief Financial Officer [Member]            
Risk-free interest rates 1.35% 1.30% 0.81%      
Expected life (in years) (Year) 4 years 4 years 3 years 136 days      
Dividend yield 0.70% 0.70% 0.80%      
Expected volatility 29.20% 32.40% 33.50%      
Forfeiture rate 0.00% 0.00% 0.00%      
v3.6.0.2
Note 16 - Stock-based Compensation - Fair Value of Stock-based Award Using Exercise Multiple-based Lattice SAR Pricing Model Assumptions (Details)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Risk-free interest rate 1.30% 1.40% 1.70%
Expected life (in years) (Year) 4 years 182 days 4 years 5 years 36 days
Dividend yield 1.10% 0.70% 0.90%
Expected volatility 30.70% 29.20% 35.10%
Forfeiture rate 8.40% 0.00% 0.00%
Stock Appreciation Rights (SARs) [Member] | Senior Management and Other Employees [Member]      
Risk-free interest rate 1.29%    
Expected life (in years) (Year) 6 years    
Dividend yield 1.14%    
Expected volatility 30.70%    
Stock Appreciation Rights (SARs) [Member] | Directors [Member]      
Risk-free interest rate 1.65%    
Expected life (in years) (Year) 7 years    
Dividend yield 1.10%    
Expected volatility 30.60%    
Forfeiture rate 0.00%    
Sub-optimal Exercise Factor 2.5    
Stock Appreciation Rights (SARs) [Member] | Senior Management [Member]      
Forfeiture rate 0.00%    
Sub-optimal Exercise Factor 2.5    
Stock Appreciation Rights (SARs) [Member] | Other Employees [Member]      
Forfeiture rate 10.50%    
Sub-optimal Exercise Factor 2    
v3.6.0.2
Note 16 - Stock-based Compensation - Summary of the Status of the 2012 Incentive Plan (Details) - $ / shares
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Outstanding at beginning of year (in shares) 3,300    
Outstanding at beginning of year (in dollars per share) $ 2,438    
Outstanding at end of year (in shares) 4,100 3,300  
Outstanding at end of year (in dollars per share)   $ 2,438  
2012 Incentive Plan [Member]      
Outstanding at beginning of year (in shares) 2,438 4,477 4,710
Outstanding at beginning of year (in dollars per share) $ 25.38 $ 27.48 $ 28.23
Stock Options (in shares) 1,155 45 485
Stock Options (in dollars per share) $ 43.01 $ 38.24 $ 29.05
SARs* (in shares) [1]
SARs* (in dollars per share) [1]
Exercised (in shares) (967) (1,589) (243)
Exercised (in dollars per share) $ 25.33 $ 26.77 $ 24.10
Forfeited (in shares) (57) (125) (116)
Forfeited (in dollars per share) $ 24.12 $ 27.33 $ 23.20
Expired (in shares) (4) (370) (359)
Expired (in dollars per share) $ 26.84 $ 45.78 $ 42.70
Outstanding at end of year (in shares) 2,565 2,438 4,477
Outstanding at end of year (in dollars per share) $ 33.36 $ 25.38 $ 27.48
Options and SARs exercisable at end of year (in shares) 557 858 2,106
Options and SARs exercisable at end of year (in dollars per share) $ 25.22 $ 26.75 $ 31.25
Weighted-average fair value of options and SARs granted during the year (in dollars per share) $ 11.61 $ 8.68 $ 9
[1] Upon exercise, SARs entitle the recipient to receive shares of common stock equal to the increase in value of the award between the grant date and the exercise date.
v3.6.0.2
Note 16 - Stock-based Compensation - Summary of Information About Stock-based Awards Outstanding (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Exercise Price (in dollars per share)   $ 2,438
Number of Shares Outstanding (in shares) 4,100 3,300
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 51959 years 27148 years
Aggregate Intrinsic Value, Options Outstanding $ 557 $ 857
Number of Shares Exercisable (in shares) 2,700 2,400
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 15827 years 8526 years
Exercise Price 1 [Member]    
Exercise Price (in dollars per share) $ 15 $ 15
Number of Shares Outstanding (in shares) 2,800 3,800
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 526 years 269 years
Aggregate Intrinsic Value, Options Outstanding $ 15 $ 15
Number of Shares Exercisable (in shares) 2,800 3,800
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 526 years 269 years
Exercise Price 2 [Member]    
Exercise Price (in dollars per share) $ 15 $ 15
Number of Shares Outstanding (in shares) 2,600 3,600
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 509 years 252 years
Aggregate Intrinsic Value, Options Outstanding $ 15 $ 15
Number of Shares Exercisable (in shares) 2,600 3,600
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 509 years 252 years
Exercise Price 3 [Member]    
Exercise Price (in dollars per share) $ 108 $ 326
Number of Shares Outstanding (in shares) 2,300 3,300
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 3608 years 5327 years
Aggregate Intrinsic Value, Options Outstanding $ 108 $ 69
Number of Shares Exercisable (in shares) 2,300 3,300
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 3608 years 1135 years
Exercise Price 4 [Member]    
Exercise Price (in dollars per share) $ 53 $ 100
Number of Shares Outstanding (in shares) 2,300 3,300
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 1761 years 1593 years
Aggregate Intrinsic Value, Options Outstanding $ 28 $ 50
Number of Shares Exercisable (in shares) 2,300 3,300
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 934 years 797 years
Exercise Price 5 [Member]    
Exercise Price (in dollars per share) $ 635 $ 938
Number of Shares Outstanding (in shares) 2,400 3,400
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 19226 years 12315 years
Aggregate Intrinsic Value, Options Outstanding $ 140 $ 126
Number of Shares Exercisable (in shares) 2,400 3,400
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 4247 years 1655 years
Exercise Price 6 [Member]    
Exercise Price (in dollars per share) $ 9 $ 33
Number of Shares Outstanding (in shares) 2,100 3,100
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 269 years 387 years
Aggregate Intrinsic Value, Options Outstanding $ 1 $ 16
Number of Shares Exercisable (in shares) 2,100 3,100
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 33 years 193 years
Exercise Price 7 [Member]    
Exercise Price (in dollars per share) $ 68 $ 135
Number of Shares Outstanding (in shares) 1,300 2,300
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 1905 years 1462 years
Aggregate Intrinsic Value, Options Outstanding $ 68 $ 135
Number of Shares Exercisable (in shares) 1,300 2,300
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 1905 years 1462 years
Exercise Price 8 [Member]    
Exercise Price (in dollars per share) $ 15 $ 45
Number of Shares Outstanding (in shares) 3,800 4,800
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 404 years 440 years
Aggregate Intrinsic Value, Options Outstanding $ 15 $ 45
Number of Shares Exercisable (in shares) 3,800 4,800
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 404 years 440 years
Exercise Price 9 [Member]    
Exercise Price (in dollars per share) $ 30 $ 64
Number of Shares Outstanding (in shares) 4,800 200
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 762 years 618 years
Aggregate Intrinsic Value, Options Outstanding $ 30 $ 64
Number of Shares Exercisable (in shares) 4,800 200
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 762 years 618 years
Exercise Price 10 [Member]    
Exercise Price (in dollars per share) $ 400 $ 15
Number of Shares Outstanding (in shares) 3,600 1,800
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 9640 years 124 years
Aggregate Intrinsic Value, Options Outstanding $ 75 $ 15
Number of Shares Exercisable (in shares) 3,600 1,800
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 1807 years 124 years
Exercise Price 11 [Member]    
Exercise Price (in dollars per share) $ 17 $ 45
Number of Shares Outstanding (in shares) 300 5,800
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 400 years 371 years
Aggregate Intrinsic Value, Options Outstanding $ 17 $ 45
Number of Shares Exercisable (in shares) 300 5,800
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 400 years 371 years
Exercise Price 12 [Member]    
Exercise Price (in dollars per share) $ 15 $ 3
Number of Shares Outstanding (in shares) 6,100 1,300
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 277 years 22 years
Aggregate Intrinsic Value, Options Outstanding $ 3
Number of Shares Exercisable (in shares) 1,300
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 22 years
Exercise Price 13 [Member]    
Exercise Price (in dollars per share) $ 45 $ 400
Number of Shares Outstanding (in shares) 5,800 4,600
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 692 years 2780 years
Aggregate Intrinsic Value, Options Outstanding $ 45
Number of Shares Exercisable (in shares) 5,800
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 692 years
Exercise Price 14 [Member]    
Exercise Price (in dollars per share) $ 1,080 $ 148
Number of Shares Outstanding (in shares) 5,500 1,300
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 11610 years 963 years
Aggregate Intrinsic Value, Options Outstanding $ 148
Number of Shares Exercisable (in shares) 1,300
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 963 years
Exercise Price 15 [Member]    
Exercise Price (in dollars per share) $ 60 $ 96
Number of Shares Outstanding (in shares) 6,900 300
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year) 370 years 225 years
Aggregate Intrinsic Value, Options Outstanding $ 96
Number of Shares Exercisable (in shares) 300
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year) 225 years
Exercise Price 16 [Member]    
Exercise Price (in dollars per share)   $ 15
Number of Shares Outstanding (in shares)   6,800
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year)  
Aggregate Intrinsic Value, Options Outstanding  
Number of Shares Exercisable (in shares)  
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year)  
Exercise Price 17 [Member]    
Exercise Price (in dollars per share)   $ 15
Number of Shares Outstanding (in shares)   800
Weighted Average Remaining Contractual Life in Years, Options Outstanding (Year)  
Aggregate Intrinsic Value, Options Outstanding   $ 15
Number of Shares Exercisable (in shares)   800
Weighted Average Remaining Contractual Life in Years, Options Exercisable (Year)  
v3.6.0.2
Note 18 - Interest Expense, Net - Components of Interest Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Interest related to sale of tax benefits                 $ 9,349 $ 9,620 $ 12,413
Interest expense                 61,327 67,032 75,447
Less — amount capitalized                 (3,287) (4,075) (3,206)
Interest Expense $ 15,828 $ 17,137 $ 18,401 $ 16,023 $ 18,142 $ 17,748 $ 18,859 $ 17,828 $ 67,389 $ 72,577 $ 84,654
v3.6.0.2
Note 19 - Income Taxes (Details Textual)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 16, 2016
USD ($)
Sep. 11, 2015
USD ($)
Dec. 31, 2016
USD ($)
$ / kWh
Dec. 31, 2016
USD ($)
$ / kWh
shares
Dec. 31, 2015
USD ($)
shares
Dec. 31, 2014
USD ($)
shares
Dec. 31, 2013
USD ($)
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2004
Nov. 23, 2016
Deferred Tax Assets, Investments     $ 1,341 $ 1,341 $ 1,341            
Deferred Tax Assets, Tax Credit Carryforwards, General Business     82,451 82,451 70,792            
Deferred Tax Assets, Valuation Allowance     109,611 109,611 70,536 $ 111,280 $ 114,806        
Undistributed Earnings of Foreign Subsidiaries     367,000 367,000              
Unrecognized Tax Benefits that Would Impact Effective Tax Rate     $ 5,700 5,700 10,400            
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations       $ 6,400 $ 1,300 600          
Investment Tax Credit Per Unit | $ / kWh     2.3 2.3              
Production Tax Credit Claim Period       10 years              
Depreciation Bonus Period to Write Off The Reminder of Equipment Cost       60 days              
Placed into Service after December 31, 2011 and Before January 1, 2017 [Member]                      
Depreciation Bonus Permitted Write Off Equipment Cost Percentage       50.00%              
OrLeaf LLC [Member]                      
Distributions Received From Subsidiary $ 43,100                    
Taxable Gain (Loss) on Distribution from Subsidiary 4,800                    
OrLeaf LLC [Member] | ORPD LLC [Member]                      
Distributions Received From Subsidiary $ 19,000                    
Northleaf Geothermal Holdings, Northleaf [Member]                      
Equity Method Investment, Ownership Percentage                     36.75%
Taxable Income Recognized       $ 21,400              
Investment Tax Credit Carryforward [Member]                      
Deferred Tax Assets, Investments     $ 1,300 $ 1,300              
Tax Credit Carryforward Expiration Period       20 years              
General Business Tax Credit Carryforward [Member]                      
Tax Credit Carryforward Expiration Period         20 years            
Minimum [Member] | Investment Tax Credit Carryforward [Member]                      
Tax Credit Carryforward Expiration Year       2022              
Minimum [Member] | General Business Tax Credit Carryforward [Member]                      
Tax Credit Carryforward Expiration Year         2026            
Maximum [Member] | Investment Tax Credit Carryforward [Member]                      
Tax Credit Carryforward Expiration Year       2024              
Maximum [Member] | General Business Tax Credit Carryforward [Member]                      
Tax Credit Carryforward Expiration Year         2036            
Deferred Tax Assets, Tax Credit Carryforwards, General Business     82,500 $ 82,500              
Domestic Tax Authority [Member]                      
Operating Loss Carryforwards     299,600 $ 299,600              
Domestic Tax Authority [Member] | Placed in Service before December 2016 [Member]                      
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Percent       30.00%              
Domestic Tax Authority [Member] | Placed in Service after December 2016 [Member]                      
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Percent       10.00%              
Domestic Tax Authority [Member] | Minimum [Member]                      
Tax Credit Carryforward Expiration Year       2029              
Domestic Tax Authority [Member] | Maximum [Member]                      
Tax Credit Carryforward Expiration Year       2036              
State and Local Jurisdiction [Member]                      
Operating Loss Carryforwards     244,700 $ 244,700              
State and Local Jurisdiction [Member] | Earliest Tax Year [Member]                      
Open Tax Year       2002              
State and Local Jurisdiction [Member] | Latest Tax Year [Member]                      
Open Tax Year       2016              
State and Local Jurisdiction [Member] | Minimum [Member]                      
Tax Credit Carryforward Expiration Year       2018              
State and Local Jurisdiction [Member] | Maximum [Member]                      
Tax Credit Carryforward Expiration Year       2036              
Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member]                      
Open Tax Year       2000              
Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member]                      
Open Tax Year       2016              
Foreign Tax Authority [Member] | Tax Authority of Guatemala in Guatemala [Member]                      
National Corporate Tax Rate       25.00%              
Effective Income Tax Rate       0.00%              
Tax Exemption Period       10 years              
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount       $ 3,300 $ 3,600 $ 1,900          
Income Tax Benefit From Examination Per Share | shares       0.07 0.08 0.04          
Foreign Tax Authority [Member] | Israel Tax Authority [Member]                      
National Corporate Tax Rate       25.00% 26.50% 26.50% 25.00% 25.00%      
Foreign Tax Authority [Member] | Kenya Revenue Authority [Member]                      
National Corporate Tax Rate       37.50%              
Investment Deduction Percentage   150.00%                  
Income Tax Examination, Estimate of Possible Loss   $ 16,100                  
Other Tax Expense (Benefit)         $ 49,400            
Foreign Tax Authority [Member] | Kenya Revenue Authority [Member] | Reduction of Income Tax Expense and Deferred Liabilities Due to Overstatement of Tax Position [Member]                      
Current Period Reclassification Adjustment     $ 4,700                
Foreign Tax Authority [Member] | Inland Revenue Department, New Zealand [Member]                      
National Corporate Tax Rate         28.00% 28.00% 28.00%        
Foreign Tax Authority [Member] | Ormat Systems Ltd [Member] | Israel Tax Authority [Member]                      
Effective Income Tax Rate, Year One                 15.00%    
Effective Income Tax Rate, Year Three             12.50%        
Effective Income Tax Rate, Year Four and Thereafter           16.00%          
Effective Income Tax Rate, Year Two               15.00%      
Foreign Tax Authority [Member] | Ormat Systems Ltd [Member] | Israel Tax Authority [Member] | Investment One [Member]                      
Income Tax Incentive Period                   5 years  
Period For Tax Exemption                   2 years  
Foreign Tax Authority [Member] | Minimum [Member] | Kenya Revenue Authority [Member]                      
Tax Losses Carryforward Period   5 years                  
Foreign Tax Authority [Member] | Maximum [Member] | Kenya Revenue Authority [Member]                      
Tax Losses Carryforward Period   10 years                  
Foreign Tax Authority [Member] | Maximum [Member] | Ormat Systems Ltd [Member] | Israel Tax Authority [Member] | Investment One [Member]                      
Effective Income Tax Rate                   25.00%  
v3.6.0.2
Note 19 - Income Taxes - Income From Continuing Operations Before Income Taxes and Equity in Income (Losses) of Investees (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
U.S                 $ (7,109) $ (236) $ (2,623)
Non-U.S. (foreign)                 148,197 113,835 88,459
$ 36,683 $ 29,047 $ 33,967 $ 41,391 $ 36,202 $ 38,583 $ 22,313 $ 16,501 $ 141,088 $ 113,599 $ 85,836
v3.6.0.2
Note 19 - Income Taxes - Components of Income Tax Provision (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Federal                 $ 51
State                 (276) 252 490
Foreign                 14,040 19,175 13,983
                13,764 19,478 14,473
Foreign                 18,073 (34,736) 13,135
                18,073 (34,736) 13,135
$ 2,450 $ 11,988 $ 7,890 $ 9,509 $ 11,438 $ (38,211) $ 6,056 $ 5,459 $ 31,837 $ (15,258) $ 27,608
v3.6.0.2
Note 19 - Income Taxes - Significant Components of Deferred Income Tax Expense (Benefit) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Other deferred tax expense (exclusive of the effect of other components listed below) $ (1,105) $ 541 $ (18,424)
Usage (benefit) of operating loss carryforwards - U.S. (14,072) (30,596) 7,764
Change in valuation allowance 16,411 (14,324) 3,526
Change in foreign valuation allowance (49,701)
Change in foreign income tax 18,073 14,965 13,135
Change in lease transaction (452) 2,136
Change in tax monetization transaction 48,000 16,386 5,184
Change in depreciation (55,462) 28,370 9,431
Change in intangible drilling costs 10,227 10,335 (9,706)
Change in production tax credits and alternative minimum tax credit (11,659) 610 89
Basis difference in partnership interests 7,660 (10,870)
$ 18,073 $ (34,736) $ 13,135
v3.6.0.2
Note 19 - Income Taxes - Difference Between US Federal Statutory Tax Rate and Company's Effective Tax Rate (Details)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
U.S. federal statutory tax rate 35.00% 35.00% 35.00%
Tax monetization 2.50%
State income tax, net of federal benefit (0.20%) 0.60% (0.70%)
Effect of foreign income tax, net (14.10%) (5.10%) (4.90%)
Production tax credits (8.30%) (0.10%) 0.90%
Subpart F income 0.30% 1.30% 1.40%
Depletion (1.10%)
Other, net (1.30%) 0.80%
Effective tax rate 22.50% (13.50%) 32.20%
Domestic Tax Authority [Member]      
Valuation allowance 11.10% (1.40%) (1.70%)
Foreign Tax Authority [Member]      
Valuation allowance (43.80%)
v3.6.0.2
Note 19 - Income Taxes - Net Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net foreign deferred taxes, primarily depreciation $ (35,382) $ (32,654)    
Depreciation 148,419 87,943    
Intangible drilling costs (112,762) (102,013)    
Net capital loss carryforward - U.S. 117,924 103,850    
Tax monetization transaction (105,789) (80,478)    
Investment tax credits 1,341 1,341    
Production tax credits 82,451 70,792    
Stock options amortization 3,241 3,467    
Basis difference in partnership interest (24,462) (16,801)    
Accrued liabilities and other (752) 2,435    
74,229 37,882    
Less - valuation allowance (109,611) (70,536) $ (111,280) $ (114,806)
Total $ (35,382) $ (32,654) $ (66,943)  
v3.6.0.2
Note 19 - Income Taxes - Reconciliation of Beginning and Ending Valuation Allowance (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Balance at beginning of the year $ 70,536 $ 111,280 $ 114,806
Additions to (release of) valuation allowance 39,075 (40,744) (3,526)
Balance at end of the year $ 109,611 $ 70,536 $ 111,280
v3.6.0.2
Note 19 - Income Taxes - Balance Sheet Presentation of Deferred Taxes (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Current deferred tax assets     $ 251
Current deferred tax liabilities     (975)
Non-current deferred tax liabilities $ (35,382) $ (32,654) (66,219)
Total $ (35,382) $ (32,654) $ (66,943)
v3.6.0.2
Note 19 - Income Taxes - Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Balance at beginning of year $ 10,385 $ 7,511 $ 4,950
Additions based on tax positions taken in prior years 675 (198) 230
Additions based on tax positions taken in the current year 1,059 4,386 2,980
Reduction based on tax positions taken in prior years (6,381) (1,314) (649)
Balance at end of year $ 5,738 $ 10,385 $ 7,511
v3.6.0.2
Note 19 - Income Taxes - Foreign Subsidiaries Income Tax Years Open to Examination (Details)
 12 Months Ended
Dec. 31, 2016
Earliest Tax Year [Member] | ISRAEL  
Countries 2015
Earliest Tax Year [Member] | KENYA  
Countries 2001
Earliest Tax Year [Member] | GUATEMALA  
Countries 2010
Earliest Tax Year [Member] | PHILIPPINES  
Countries 2010
Earliest Tax Year [Member] | NEW ZEALAND  
Countries 2011
Latest Tax Year [Member] | ISRAEL  
Countries 2016
Latest Tax Year [Member] | KENYA  
Countries 2016
Latest Tax Year [Member] | GUATEMALA  
Countries 2016
Latest Tax Year [Member] | PHILIPPINES  
Countries 2016
Latest Tax Year [Member] | NEW ZEALAND  
Countries 2016
v3.6.0.2
Note 20 - Business Segments (Details Textual)
 12 Months Ended
Dec. 31, 2016
Number of Reportable Segments 2
v3.6.0.2
Note 20 - Business Segments - Summarized Financial Information Concerning Reportable Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net revenues from external customers $ 166,519 $ 184,617 $ 159,861 $ 151,594 $ 171,074 $ 162,852 $ 140,487 $ 120,231 $ 662,591 $ 594,644 $ 559,524
Depreciation and amortization expense                 105,977 107,206 100,799
Operating income 51,229 $ 48,223 $ 51,887 $ 50,543 49,088 $ 46,479 $ 38,643 $ 29,851 201,882 164,061 143,490
Segment assets at period end [1] 2,461,569       2,273,982       2,461,569 2,273,982 2,121,556
Expenditures for long-lived assets                 151,930 152,450 158,781
Intersegment Eliminations [Member]                      
Net revenues from external customers                 56,075 48,559 44,718
Electricity [Member]                      
Net revenues from external customers                 436,292 375,920 382,301
Depreciation and amortization expense                 102,698 103,892 97,826
Operating income                 126,828 99,345 90,401
Segment assets at period end [1] 2,204,444       2,044,346       2,204,444 2,044,346 1,963,486
Expenditures for long-lived assets                 147,211 149,666 155,323
Electricity [Member] | Intersegment Eliminations [Member]                      
Net revenues from external customers                
Product Segment [Member]                      
Net revenues from external customers                 226,299 218,724 177,223
Depreciation and amortization expense                 3,279 3,314 2,973
Operating income                 75,054 64,716 53,089
Segment assets at period end [1] $ 257,125       $ 229,636       257,125 229,636 158,070
Expenditures for long-lived assets                 4,719 2,784 3,458
Product Segment [Member] | Intersegment Eliminations [Member]                      
Net revenues from external customers                 $ 56,075 $ 48,559 $ 44,718
[1] Including unconsolidated investments
v3.6.0.2
Note 20 - Business Segments - Reconciling Information Between Reportable Segments and Consolidated Totals (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues                 $ 662,591 $ 594,644 $ 559,524
Operating income $ 51,229 $ 48,223 $ 51,887 $ 50,543 $ 49,088 $ 46,479 $ 38,643 $ 29,851 201,882 164,061 143,490
Interest income 140 266 245 320 191 53 44 9 971 297 312
Interest expense, net (15,828) (17,137) (18,401) (16,023) (18,142) (17,748) (18,859) (17,828) (67,389) (72,577) (84,654)
Foreign currency translation and transaction gains (losses) (2,942) (222) (4,332) 1,962 (981) 1,296 (571) (1,366) (5,534) (1,622) (5,839)
Income attributable to sale of tax benefits 4,123 3,463 4,519 4,398 6,514 8,634 4,731 5,552 16,503 25,431 24,143
Gain from sale of property, plant and equipment                 7,628
Other non-operating income (expense), net (39) (5,546) 49 191 (468) (131) (1,675) 283 (5,345) (1,991) 756
Income (loss) from continuing operations, before income taxes and equity in income of investees $ 36,683 $ 29,047 $ 33,967 $ 41,391 $ 36,202 $ 38,583 $ 22,313 $ 16,501 141,088 113,599 85,836
Intersegment Eliminations [Member]                      
Revenues                 56,075 48,559 44,718
Consolidation, Eliminations [Member]                      
Revenues                 $ (56,075) $ (48,559) $ (44,718)
v3.6.0.2
Note 20 - Business Segments - Revenues as Reported in the Geographic Area (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues $ 662,591 $ 594,644 $ 559,524
UNITED STATES      
Revenues 307,025 286,509 293,710
INDONESIA      
Revenues 100,856 93,191 38,174
KENYA      
Revenues 109,270 86,545 86,074
TURKEY      
Revenues 46,270 57,356 86,340
CHILE      
Revenues 58,032 34,478
GUATEMALA      
Revenues 30,086 27,897 28,439
Other Foreign Countries [Member]      
Revenues $ 11,052 $ 8,668 $ 26,787
v3.6.0.2
Note 20 - Business Segments - Long Lived Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Long Lived Assets, Geographic Area $ 1,941,239 $ 1,857,129 $ 1,790,071
UNITED STATES      
Long Lived Assets, Geographic Area 1,414,523 1,374,465 1,369,136
KENYA      
Long Lived Assets, Geographic Area 327,157 375,257 330,200
Other Foreign Countries [Member]      
Long Lived Assets, Geographic Area $ 199,559 $ 107,407 $ 90,735
v3.6.0.2
Note 20 - Business Segments - Revenue From Major Customers (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues $ 662,591 $ 594,644 $ 559,524
Southern California Edison Company [Member]      
Revenues [1] $ 33,552 $ 56,026 $ 75,803
Percentage of revenues [1] 5.10% 9.40% 13.50%
Southern California Public Power Authority [Member]      
Revenues $ 67,566 $ 30,947 $ 21,799
Percentage of revenues 10.20% 5.20% 3.90%
Sierra Pacific Power Company And Nevada Power Company [Member]      
Revenues [1],[2] $ 127,226 $ 115,876 $ 92,580
Percentage of revenues [1],[2] 19.20% 19.50% 16.50%
Hyundai [Member]      
Revenues [3] $ 100,856 $ 93,131 $ 38,174
Percentage of revenues [3] 15.20% 15.70% 6.80%
Kenya Power And Lighting Co LTD [Member]      
Revenues [1] $ 109,270 $ 86,545 $ 86,074
Percentage of revenues [1] 16.50% 14.60% 15.40%
[1] Revenues reported in Electricity segment.
[2] Subsidiaries of NV Energy, Inc.
[3] Revenues related to the Sarulla project that are reported in Products segment.
v3.6.0.2
Note 21 - Transactions with Related Entities (Details Textual) - USD ($)
 1 Months Ended 12 Months Ended
Feb. 12, 2015
Apr. 01, 2009
Jul. 31, 2004
Dec. 31, 2016
Dec. 31, 2015
Feb. 11, 2015
Dec. 31, 2014
Due from Officers or Stockholders, Current         $ 0   $ 1,337,000
Common Stock, Shares, Outstanding       49,667,340 49,107,901    
Corporate Costs And Other       $ 10,000      
Other Research and Development Expense, Percentage       10.00%      
Lessor Leasing Arrangements, Operating Leases, Term of Contract     25 years        
Ormat Systems Ltd [Member]              
Operating Lease, Monthly Rent   $ 77,000 $ 52,000        
Ormat Industries Ltd. [Member]              
Percentage of Public Float Before Transition to Noncontrolled Public Company           40.00%  
Percentage of Public Float After Transition to Noncontrolled Public Company 76.00%            
Share Exchange Shares Granted Per Share 0.2592            
Conversion of Stock, Shares Issued 30,200,000            
Stock Issued During Period, Shares, New Issues 3,000,000            
Common Stock, Shares, Outstanding 48,500,000         45,500,000  
Sale of Stock, Consideration Received on Transaction $ 15,400,000            
Ormat Industries Ltd. [Member] | Shares Issued to Self, Deducted [Member]              
Conversion of Stock, Shares Issued 27,200,000            
Ormat Industries Ltd. [Member] | Sale of Stock, Other Assets Received [Member]              
Sale of Stock, Consideration Received Per Transaction $ 600,000            
Ormat Industries Ltd. [Member] | Sale of Stock, Land and Buildings Received [Member]              
Sale of Stock, Consideration Received Per Transaction 12,100,000            
Ormat Industries Ltd. [Member] | Sale of Stock, Liabilities Assumed [Member]              
Sale of Stock, Consideration Received Per Transaction $ 500,000            
London Interbank Offered Rate (LIBOR) [Member]              
Debt Instrument, Basis Spread on Variable Rate         1.00%    
Israeli Consumer Price Index [Member] | Minimum [Member]              
Debt Instrument, Basis Spread on Variable Rate         4.00%    
v3.6.0.2
Note 21 - Transactions with Related Entities - Summary of Transactions Between Company and Related Entities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Property rental fee expense paid to the Parent $ 303 $ 1,821
Corporate financial, administrative, executive services, and research and development services provided to the Parent 148 148
Services rendered by an indirect shareholder of the Parent $ 15 $ 51
v3.6.0.2
Note 22 - Employee Benefit Plan (Details Textual) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent 60.00%    
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay 3.00% 2.00% 2.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount $ 1,000 $ 600 $ 500
Deposits And Other Assets Noncurrent 18,553 17,968  
Severance Costs 2,300 2,500 2,100
Gain (Loss) Of Severance Fund 300 100 $ (1,500)
Israeli Severance Funds [Member]      
Deposits And Other Assets Noncurrent $ 12,800 $ 14,200  
v3.6.0.2
Note 22 - Employee Benefit Plan - Expected Future Benefit Payments (Details)
$ in Thousands
Dec. 31, 2016
USD ($)
2017 $ 1,867
2018 2,497
2019 1,655
2020 1,119
2021 1,400
2022 5,141
$ 13,679
v3.6.0.2
Note 23 - Commitments and Contingencies (Details Textual) - USD ($)
 1 Months Ended 12 Months Ended
Oct. 26, 2016
Mar. 29, 2016
May 21, 2014
Jan. 31, 2014
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2003
Royalty Expense         $ 0 $ 0 $ 0  
Letters of Credit Outstanding, Amount         341,600,000      
Letter Of Credit Fair Value Disclosure         0      
Recorded Unconditional Purchase Obligation         108,100,000      
Royalty Cap Amount         1,800,000 1,700,000    
Royalty Cap Amount LIBOR Rate         800,000 800,000    
Operating Leases, Rent Expense         400,000 $ 400,000 300,000  
Capital Leased Assets, Gross         6,900,000      
Capital Lease, Period of Payments           5 years    
Tax Abatement, Period     20 years          
McGinness Plant[Member]                
Tax Abatement Benefit, Value     $ 18,600,000          
Tuscorura Plant [Member]                
Tax Abatement Benefit, Value     $ 6,200,000          
Two Former Employees Vs. Ormat [Member] | Settled Litigation [Member]                
Loss Contingency, Damages Sought, Value       $ 375,000,000        
Payments for Legal Settlements $ 11,000,000              
Two Former Employees Vs. Ormat [Member] | Settled Litigation [Member] | General and Administrative Expense [Member]                
Litigation Settlement, Amount         11,000,000      
Former Local Sales Representative vs. Ormat [Member] | Pending Litigation [Member]                
Loss Contingency, Damages Sought, Value   $ 4,600,000            
Loss Contingency, Additional Damages Sought for Ormat Geothermal Products Sales in Chile, Percent   3.75%            
Loss Contingency, Damages Sought, Ormat Geothermal Products Sales in Chile, Period   10 years            
Minimum [Member]                
Percentage For Royalty To Be Paid               3.50%
Maximum [Member]                
Percentage For Royalty To Be Paid               5.00%
Construction In Process [Member]                
Recorded Unconditional Purchase Obligation         51,000,000      
Geothermal Resource Agreement [Member]                
Royalty Expense         $ 17,100,000 $ 15,400,000 $ 16,300,000  
v3.6.0.2
Note 24 - Quarterly Financial Information (Unaudited) - Quarterly Financial Information (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:                      
Electricity $ 114,628 $ 109,795 $ 104,001 $ 107,868 $ 97,796 $ 97,245 $ 90,926 $ 89,953 $ 436,292 $ 375,920 $ 382,301
Product 51,891 74,822 55,860 43,726 73,278 65,607 49,561 30,278 226,299 218,724 177,223
Total revenues 166,519 184,617 159,861 151,594 171,074 162,852 140,487 120,231 662,591 594,644 559,524
Cost of revenues:                      
Electricity 69,163 66,481 62,243 63,686 63,008 61,501 62,522 55,581 261,573 242,612 246,630
Product 30,719 43,647 31,822 24,035 43,927 42,019 27,182 20,625 130,223 133,753 109,143
Total cost of revenues 99,882 110,128 94,065 87,721 106,935 103,520 89,704 76,206 391,796 376,365 355,773
Gross profit 66,637 74,489 65,796 63,873 64,139 59,332 50,783 44,025 270,795 218,279 203,751
Operating expenses:                      
Research and development expenses 732 1,086 595 349 668 335 414 363 2,762 1,780 783
Selling and marketing expenses 4,288 4,793 3,668 3,675 3,978 4,383 4,283 3,433 16,424 16,077 15,425
General and administrative expenses 10,085 19,093 8,783 8,749 9,185 7,950 7,443 10,204 46,710 34,782 28,614
Write-off of unsuccessful exploration activities 303 1,294 863 557 1,220 185 174 3,017 1,579 15,439
Operating income 51,229 48,223 51,887 50,543 49,088 46,479 38,643 29,851 201,882 164,061 143,490
Interest income 140 266 245 320 191 53 44 9 971 297 312
Interest expense, net (15,828) (17,137) (18,401) (16,023) (18,142) (17,748) (18,859) (17,828) (67,389) (72,577) (84,654)
Foreign currency translation and transaction gains (losses) (2,942) (222) (4,332) 1,962 (981) 1,296 (571) (1,366) (5,534) (1,622) (5,839)
Income attributable to sale of tax benefits 4,123 3,463 4,519 4,398 6,514 8,634 4,731 5,552 16,503 25,431 24,143
Other non-operating income (expense), net (39) (5,546) 49 191 (468) (131) (1,675) 283 (5,345) (1,991) 756
Income (loss) from continuing operations, before income taxes and equity in income of investees 36,683 29,047 33,967 41,391 36,202 38,583 22,313 16,501 141,088 113,599 85,836
Income tax benefit (provision) (2,450) (11,988) (7,890) (9,509) (11,438) 38,211 (6,056) (5,459) (31,837) 15,258 (27,608)
Equity in income (losses) of investees (3,001) (2,653) (1,144) (937) (616) (3,133) (984) (775) (7,735) (5,508) (3,213)
Net income (loss) 31,232 14,406 24,933 30,945 24,148 73,661 15,273 10,267 101,516 123,349 55,015
Net loss (income) attributable to noncontrolling interest (3,002) (2,326) (584) (1,674) (1,160) (1,522) (859) (235) 7,586 3,776 833
Net income (loss) attributable to the Company's stockholders $ 28,230 $ 12,080 $ 24,349 $ 29,271 $ 22,988 $ 72,139 $ 14,414 $ 10,032 $ 93,930 $ 119,573 $ 54,182
Net income (in dollars per share) $ 0.57 $ 0.24 $ 0.49 $ 0.60 $ 0.47 $ 1.47 $ 0.29 $ 0.21 $ 1.90 $ 2.46 $ 1.19
Net income (in dollars per share) $ 0.56 $ 0.24 $ 0.49 $ 0.59 $ 0.46 $ 1.41 $ 0.28 $ 0.21 $ 1.87 $ 2.43 $ 1.18
Basic (in shares) 49,647 49,599 49,456 49,173 49,074 49,023 48,881 47,244 49,469 48,562 45,508
Diluted (in shares) 50,293 50,289 50,137 49,782 49,668 51,113 50,600 48,079 50,140 49,187 45,859
v3.6.0.2
Note 25 - Subsequent Events (Details Textual) - USD ($)
 12 Months Ended
Feb. 28, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dividends, Common Stock   $ 25,682,000 $ 12,716,000 $ 9,555,000
Common Stock, Dividends, Per Share, Declared   $ 0.52 $ 0.26 $ 0.21
Subsequent Event [Member]        
Dividends, Common Stock $ 8.40      
Common Stock, Dividends, Per Share, Declared $ 0.17