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Ormat Technologies Secures Two Tolling Agreements for 120 MW Energy Storage in Texas, Ensuring Seven Years of Revenue.

Ormat Technologies Inc (NYSE:ORA) has signed two tolling agreements for 120 MW/240 MWh of energy storage facilities in Texas, securing seven years of fixed revenues for the projects. The contracts were signed with Equilibrium Energy, marking Ormat’s first such deals in the ERCOT market. The Lower Rio and Bird Dog energy storage systems, each with a capacity of 60 MW/120 MWh, will receive a 40% investment tax credit under the Inflation Reduction Act. By the end of 2026, Ormat will operate 253 MW/473 MWh in Texas.

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