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The latest announcement is out from Ormat Techno ( (ORA) ).
Ormat Technologies has been awarded two 15-year tolling agreements by the Israeli Electricity Authority for energy storage facilities in Israel, marking its entry into the country’s utility-scale energy storage market. Developed in partnership with Allied Infrastructure Ltd, these projects are expected to enhance Ormat’s portfolio profitability and stability, aligning with its strategic growth in energy storage. The facilities, with a combined capacity of 300MW/1200MWh, are anticipated to commence operations by 2028, contributing to Israel’s renewable energy goals.
More about Ormat Techno
Ormat Technologies, Inc. is a leading company in the geothermal and renewable energy sectors, known for its vertically integrated approach to geothermal and recovered energy generation (REG). The company designs, manufactures, and operates power plants, leveraging its expertise to expand into energy storage and solar photovoltaic (PV) markets. Ormat’s global presence spans the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, with a generating portfolio of 1.5GW, including a significant energy storage capacity.
YTD Price Performance: -8.33%
Average Trading Volume: 620,908
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.83B
For detailed information about ORA stock, go to TipRanks’ Stock Analysis page.
