Ormat Technologies (ORA) said Thursday it signed two 15-year tolling agreements for two energy storage facilities in Israel.
The company said it will share ownership of the projects equally with development partner Allied Infrastructure. The companies plan to develop additional energy storage facilities, Ormat said.
The company said commercial operation of the two projects is expected in 2028. The tolling deal includes an option for termination of the initial contract and move to participation in the merchant market, according to Ormat.
Price: 63.45, Change: +0.08, Percent Change: +0.13
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.