Ormat Technologies (ORA) announced the commencement of commercial operations for its Montague energy storage facility. This 20MW/20MWh Battery Energy Storage System, located in New Jersey, will provide ancillary services on the merchant market to PJM. The Montague project, which is expected to be eligible for a 30% Investment Tax Credit, represents Ormat’s continued commitment to strategically growing its Energy Storage segment in key U.S. markets. With the addition of Montague, Ormat’s total capacity in the PJM market increases to 120MW/120MWh.
Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ORA:
- Charged: Analyst sees Tesla Q4 deliveries just above expectations
- Ormat Technologies secures strategic land parcels in Utah BLM Auction
- Potential added tariff cost could be disruptive to solar industry, says Roth MKM
- Micron downgraded, Block upgraded: Wall Street’s top analyst calls
- Piper assumes Oilfield Services coverage with 4 buys, 4 neutrals