Ormat will set up a 25-megawatt storage system in Texas – the capital market


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Ormo Techno
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Ormo Techno
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It reports that it has purchased in Texas, USA, an energy storage project ready to begin construction; no amounts have been reported in the transaction.

The system is installed in close proximity to a photovoltaic facility with a power of 157 megawatts from the seller – Con Edison Development. Ormat is interested in reaching commercial launch before the end of 2021 and estimates that the new project will support its growth targets for 2022.

“This deal enabled the acquisition of our second energy storage project in Texas, following the success of the Rabbit Hill project which has been running since April this year,” he said Doron Belsher, CEO of Ormat Technologies“We are excited about the opportunity to partner with Con Edison Development, a leading developer in renewable energy and a power producer itself, and hope to expand this collaboration in the future. With this second project, Ormat is strengthening its position as one of the leaders in the Texas energy storage market.”

Balsher added that “Ormat is well positioned to expand its presence in the energy storage market, and this acquisition strengthens and supports our goal of adding between 80 and 175 megawatts of energy storage assets by the end of 2022 and is in line with our stated strategy to build, hold and operate storage assets. Energy in high-growth strategic markets, including Texas. ”

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  • 1.

    Ormat is a good and stable investment

    Eric

    16/12/2020 16:56

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    A company with strong and stable management that constantly develops growth engines

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