Ormat Commences Commercial Operation of Bottleneck Storage Facility in California, Delivering 80MW/320MWh of Energy Storage Capacity
Ormat Technologies, Inc. (ORA)
Last ormat technologies, inc. earnings: 2/25 04:30 pm
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Source: GlobeNewswire
RENO, Nev., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA), a leading renewable energy company, announces the successful commencement of commercial operations for its largest energy storage facility, the Bottleneck project. This 80MW/320MWh Battery Energy Storage System (BESS), located in the Central Valley of California, will provide energy, capacity, and ancillary services to San Diego Gas & Electric (SDG&E) under a 15-year Power Purchase Agreement (also known as a Tolling Agreement) signed in 2022. The Bottleneck project is expected to be eligible for a 40% Investment Tax Credit, which the Company plans to monetize by the end of the year. The project represents Ormat’s continued commitment to strategically growing its Energy Storage segment in the key California energy market. Doron Blachar, CEO of Ormat Technologies, stated, “We are happy to announce the commencement of operations at Ormat’s Bottleneck Battery Storage Facility. This miles
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ORA
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- 11/6/24 - Beat
ORA
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- 11/8/24 - Form 4
- 11/7/24 - Form 10-Q
- 11/6/24 - Form 8-K
- ORA's page on the SEC website