1. Ormat's Unit to Build 40MW Storage, Increase Grid Resilience

    Ormat's Unit to Build 40MW Storage, Increase Grid Resilience

    Ormat Technologies, Inc. (ORA - Free Report) announced that its subsidiary, Viridity Energy Solutions, Inc. will start the construction of two 20 megawatt (MW)/20MWh utility scale, in-front-of-the-meter battery energy storage systems (“BESS”) located in Plumsted Township and Alpha, NJ. The BESS will assist in balancing energy demand in the electricity grid and is expected to generate revenues in the range of $7-$8 million in 2019. The revenues will be based on spot price, which generally varies from period to period.

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