Ormat Announces Commercial Operation of Rabbit Hill Battery Energy Storage System Participating in Markets Run by the Electri...
30 Abril 2020 - 1:44PM
Ormat Technologies, Inc. (NYSE: ORA) today announced the
commercial operation of the Rabbit Hill Battery Energy Storage
System (BESS) facility, providing required ancillary services and
energy optimization to the wholesale markets managed by the
Electricity Reliability Council of Texas (ERCOT). The facility is
located in the City of Georgetown, Texas, and it is sized to
provide approximately 10 MW of fast responding capacity to the
ERCOT market. Ormat’s wholly owned subsidiary Viridity Energy
Solutions Inc. designed, built, owns and operates the
lithium-Ion-based BESS, using batteries from a tier 1 supplier.
”The Rabbit Hill BESS facility is our first
energy storage system in Texas” commented Isaac Angel, Chief
Executive Officer. “The system provides fast responding capacity,
helping ERCOT maintain grid reliability, as it copes with changes
in supply and demand, driven by the growing penetration of wind and
solar generation, more frequent extreme weather events and other
challenges. Our state-of-the-art system was designed to be able to
provide all types of ancillary services required by ERCOT,
including fast frequency response. Our first BESS project in Texas
and the fifth to our Energy Storage and Management Services
segment, marks another milestone in our strategy to develop, own
and operate energy storage facilities in several key US markets,
also including New Jersey, New England and California. Although the
COVID-19 pandemic has forced many businesses to operate in new
means, Ormat continues to attract new business in the energy
storage market, expanding in terms of MW, operation and
ownership.”
LS Energy Solutions served as the system
integrator, providing a state-of-the art solution that interfaces
with Ormat’s on-site energy management system and remote network
operations center.
ABOUT ORMAT TECHNOLOGIES
With over five decades of experience, Ormat
Technologies, Inc. is a leading geothermal company and the only
vertically integrated company engaged in geothermal and recovered
energy generation (“REG”), with the objective of becoming a leading
global provider of renewable energy. The Company owns, operates,
designs, manufactures and sells geothermal and REG power plants
primarily based on the Ormat Energy Converter – a power generation
unit that converts low-, medium- and high-temperature heat into
electricity. With 63 U.S. patents, Ormat’s power solutions have
been refined and perfected under the most grueling environmental
conditions. Ormat has 578 employees in the United States and 830
overseas. Ormat’s flexible, modular solutions for geothermal power
and REG are ideal for vast range of resource characteristics. The
Company has engineered, manufactured and constructed power plants,
which it currently owns or has installed to utilities and
developers worldwide, totaling over 3,000 MW of gross capacity.
Ormat’s current 914 MW generating portfolio is spread globally in
the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe.
Ormat expanded its operations to provide energy storage and energy
management solutions, by leveraging its core capabilities and
global presence as well as through its Viridity Energy Solutions
Inc. subsidiary.
ORMAT’S SAFE HARBOR STATEMENT
Information provided in this press release may
contain statements relating to current expectations, estimates,
forecasts and projections about future events that are
"forward-looking statements" as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally relate to Ormat's plans, objectives and expectations for
future operations and are based upon its management's current
estimates and projections of future results or trends. Actual
future results may differ materially from those projected as a
result of certain risks and uncertainties.
For a discussion of such risks and
uncertainties, see "Risk Factors" as described in Ormat’s Form 10-K
filed with the Securities and Exchange Commission (“SEC”) on March
2, 2020 and from time to time, in Ormat’s quarterly reports on Form
10-Q that are filed with the SEC.
These forward-looking statements are made only
as of the date hereof, and we undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
Ormat Technologies Contact:Smadar LaviVP Corporate Finance and Head
of Investor Relations775-356-9029 (ext.
65726)slavi@ormat.com |
Investor Relations Agency Contact:Rob FinkFNK
IR646-809-4048rob@fnkir.com |
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