Justin Clare

Noah Kaye

Derek Podhaizer

Jeffrey Osborne

Andre Stillman Adams

Ben Cowell

Ben Kallo

David Anderson

Hannah Velásquez

J. David Anderson

Julien Dumoulin-Smith

Mark W. Strouse

Michael Fairbanks

Ryan Levine

- Ormat Technologies has successfully commenced commercial operations at its **Lower Rio energy storage facility** in Texas.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]** 
- This facility is a **60MW/120MWh Battery Energy Storage System (BESS)** that will provide energy and ancillary services under a **seven-year tolling agreement**.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]** 
- Ormat secured approximately **$25.0 million in proceeds** through a Hybrid Tax Equity partnership with Morgan Stanley Renewables, Inc. for the project.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]** 
- This transaction contributes to Ormat's goal of monetizing **$160 million of tax benefits this year**.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]** 
- With the addition of the Lower Rio facility, Ormat's total U.S. capacity for energy storage now stands at **350MW/778MWh**.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]**

Ormat Commences Commercial Operations at Lower Rio Energy Storage Facility

- Ormat Technologies, Inc. has signed a **strategic commercial agreement** with Sage Geosystems Inc., a pioneer in next-generation geothermal and energy storage technology.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]** 
- Under the terms of the agreement, Sage will **pilot its advanced Pressure Geothermal technology** at an existing Ormat power plant to extract geothermal heat energy from hot dry rock.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]** 
- This collaboration aims to **significantly reduce the time needed to bring geothermal energy to market** and enhance Ormat’s operational efficiency.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]** 
- Following the successful completion of the pilot project, Ormat will have the right to **develop, build, own, and operate** geothermal power plants and energy storage projects using Sage’s technology.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]** 
- The transaction is subject to closing conditions and is **anticipated to close by year-end**.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]**

Ormat Technologies Announces Strategic Commercial Agreement

- Ormat Technologies, Inc. (ORA) announced a **25-year extension** to its existing Power Purchase Agreement (PPA) with the Southern California Public Power Authority (SCPPA) for **52MW** from its **Heber 1 geothermal facility**.  **[1296445_f1d0463b8b5d4e84bba38fce11ddb00c_0]** 
- This agreement, effective **February 2026**, ensures the continued delivery of clean, baseload geothermal energy to the Los Angeles Department of Water and Power (LADWP) and the Imperial Irrigation District (IID) through **2052**.  **[1296445_f1d0463b8b5d4e84bba38fce11ddb00c_0]** 
- The Heber 1 power plant, now operating with air-cooled technology, is part of the Heber complex which delivers **91MW** of carbon-free electricity.  **[1296445_f1d0463b8b5d4e84bba38fce11ddb00c_0]**

Ormat Technologies Extends Power Purchase Agreement with SCPPA

ORMAT TECHNOLOGIES (ORA)