Ormat Technologies shares fall 2.45% intraday after commencing commercial operations at Lower Rio energy storage facility.
ByAinvest
Tuesday, Sep 2, 2025 9:50 am ET1min read
ORA--
Ormat Technologies, Inc. declined 2.45% in intraday trading. The company announced the successful commencement of commercial operations at its Lower Rio energy storage facility in Texas, which is a 60MW/120MWh Battery Energy Storage System (BESS) operating under a seven-year tolling agreement. Additionally, Ormat signed a Hybrid Tax Equity partnership with Morgan Stanley Renewables, Inc. to monetize the 40% Investment Tax Credit (ITC).
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