Ormat Signs 15-Year Energy Storage Service Agreement With San Diego Community Power For Pomona 2 Energy Storage Facility; Financial Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Ormat Technologies, Inc. has entered into a 15-year energy storage service agreement with San Diego Community Power for the Pomona 2 Energy Storage Facility. The financial terms of the deal were not disclosed.

December 12, 2023 | 12:33 pm
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Ormat Technologies, Inc. has signed a 15-year service agreement with San Diego Community Power for the Pomona 2 Energy Storage Facility, which could lead to stable long-term revenue.
The agreement with San Diego Community Power is likely to provide Ormat with a stable revenue stream over the term of the contract, which is positive for the company's financial stability and future growth prospects. However, without financial details, the exact impact on the stock price cannot be precisely determined, hence the score is not at the maximum.
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