Solutions & Capabilities
As the world’s transition to clean energy gathers speed, renewable energy sources like wind and solar are penetrating the global energy market. These intermittent resources are increasingly being paired with energy storage systems to balance out the electricity supply and ensure that the supply of electricity generation matches the demand.
Ormat Technologies, a leading provider of renewable energy solutions, develops, engineers, owns and operates advanced energy storage solutions in California, Texas, New Jersey, and many states in between. Our energy storage solutions use reliable lithium-ion battery technology to provide scalable, reliable, and efficient systems for commercial, industrial, and utility-scale applications. Ormat energy storage solutions integrate renewable energy into the grid. We also support grid reliability by providing backup power during emergencies, enable energy arbitrage and other ancillary services. These solutions offer flexible, modular design which can be customized to meet specific energy needs and can be easily integrated into existing power systems.
As grid-connected assets, Ormat’s battery storage facilities enable us to supply the electric system with reliable capacity and energy optimization – storing energy during times of excess supply so it can be used during times of high demand. We also offer a full suite of ancillary services, for example, fast ramping for frequency regulation, operating reserves, and more. When connected behind the meter of an electric cooperative, a municipal utility, a college campus, or a commercial/industrial customer, our battery storage solutions enable these customers to reduce their peak load contribution, significantly reducing demand charges on their electricity bills.
Ormat's energy storage solutions toolkit applies:
Ormat’s vertically integrated structure enables our company to supply complete renewable energy solutions from project start to start-up. From location identification, permitting, and exploration to equipment design, manufacturing, construction, commissioning and operating, we leverage over five decades of knowledge and experience to heighten the overall precision and efficiency of the products we offer.
Our proprietary software and analytical operational platform set us apart from our competitors, while our engineering and system integration capabilities allow us to provide multiple value streams from a single storage installation.
NEED EXPERTS, what is our unique technology?
We own and operate nearly 1GW of generating renewable energy capacity in six countries. With over five decades of experience in geothermal energy production, we have leveraged our core capabilities as developers and operators into energy storage services in the United States with plans to expand internationally.
With the acquisition of Viridity Energy Solutions in 2017, we absorbed 8 years of experience in energy storage operation and integration with electricity markets.
We currently own and operate energy storage facilities in the PJM, CAISO, ERCOT and ISONE territories across the United States.
As a publicly traded company, our financial records speak for themselves. Ormat has enjoyed consistent growth in revenues year over year as a result of our projects consistently meeting required budgets and timelines.
While our strong financial position allows us to self-fund the majority of our projects, we also have access to credit facilities such as term loans, bonds, and leveraged leases, as well as other financing arrangements.