Ormat Commences Commercial Operation of Lower Rio Energy Storage Facility, Delivering 60MW/120MWH of Energy Storage Capacity
1. Ormat's Lower Rio energy facility begins commercial operations in Texas. 2. The facility features a 60MW/120MWh energy storage system. 3. Ormat signed a seven-year tolling agreement for stable revenue. 4. The company secured $25 million from a Hybrid Tax Equity deal. 5. Ormat aims to monetize $160 million in tax benefits this year.