Ormat Technologies commences commercial operation of Bottleneck facility

Ormat Technologies (ORA) announces the commencement of commercial operations for its largest energy storage facility, the Bottleneck project. This 80MW/320MWh Battery Energy Storage System, located in the Central Valley of California, will provide energy, capacity, and ancillary services to San Diego Gas & Electric under a 15-year Power Purchase 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.