Ormat (ORA) 3rd BESS Facility Starts Operation in California

Nasdaq

Ormat Technologies, Inc. ORA recently announced that its 5-megawatt (MW)/20 megawatt-hour (MWh) Tierra Buena Battery Energy Storage System (“BESS”) facility in California has commenced its operations. With this facility in operation, Ormat finally excels in taking its portfolio of energy storage to 88 MW/196 MWh. This, in turn, should boost ORA’s revenue generation prospects through the next-generation source of energy.

The BESS facility, which is expected to be earnings accretive for the company from the onset of July 2022, aims to offer local resource adequacy under 10-year agreements to two Community Choice Aggregators, namely Redwood Coast Energy Authority and Valley Clean Energy, comprising 2.5 MW each.

Also, the facility will offer ancillary services and energy optimization facilities through participation in merchant markets run by the California Independent System Operator.

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