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Ormat Technologies Signs $62M Hybrid Tax Equity Deal With Morgan Stanley For Battery Storage And Solar Projects Targeting 2025 Completion

Benzinga · 05/27 12:46

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Ormat Technologies, Inc. (NYSE:ORA) (the "Company" or "Ormat"), a leading geothermal and renewable energy company, today announced the signing of a $62 million Hybrid Tax Equity partnership with Morgan Stanley Renewables, Inc. The partnership's transaction covers the Lower Rio 60MW/120MWh storage facility and the Arrowleaf 35MW/140MWh storage and 42MW solar projects, which are expected to achieve COD by the end of 2025.

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