Ormat Acquires Shovel-Prepared Texas Power Storage Venture

Ormat Acquires Shovel-Ready Texas Energy Storage Project

Ormat Technologies Inc. has completed the acquisition of a shovel-ready energy storage facility in Upton County, Texas.

Ormat acquired the asset from Con Edison Development. Ormat’s wholly owned subsidiary, Viridity Energy Solutions Inc., will design, build, own and operate the 25 MW BESS (Battery Energy Storage System) project. The project is co-located with a 157 MW solar PV generating plant owned and operated by CED Upton County Solar LLC. Ormat aims to commercialize the BESS before the end of 2021.

“This is our second energy storage project in Texas following the success of our Rabbit Hill BESS project, which has been in high availability in the ERCOT market since April this year,” said Doron Blachar, CEO of Ormat Technologies. “We are very excited to work with Con Edison Development, a renewable energy developer and independent power company, and hope to expand this collaboration in the future. Ormat is well positioned to increase its energy storage footprint. This acquisition confirms our goal of adding revenue-generating energy storage systems between 80 MW and 175 MW by the end of 2022. ”

The BESS facility will provide much-needed additional services and energy optimization for the wholesale markets administered by the Electricity Reliability Council of Texas (ERCOT). Texas is currently experiencing growth in renewable energy use and fast acting energy storage resources are expected to play an increasing role in enabling ERCOT to absorb such intermittent generators while handling the increasing frequency of extreme weather events.

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