Ormat Secures 15-Year Resource Adequacy Purchase And Sale Agreement With The City Of Riverside For The 80MW/320MWh Shirk Battery Energy Storage System Located In Visalia, California.
Portfolio Pulse from Benzinga Newsdesk
Ormat Technologies, Inc. (NYSE:ORA) has signed a 15-year Resource Adequacy Purchase and Sale Agreement with the City of Riverside for the 80MW/320MWh Shirk Battery Energy Storage System in Visalia, California.
July 23, 2024 | 12:21 pm
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Ormat Technologies has secured a significant 15-year agreement with the City of Riverside for its Shirk Battery Energy Storage System, which is likely to enhance its revenue stability and market position in renewable energy.
The 15-year agreement provides long-term revenue stability for Ormat Technologies and strengthens its market position in the renewable energy sector. This is likely to positively impact the stock price in the short term.
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