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Ormat Technologies Begins Lower Rio Energy Storage Facility Operation
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Key Takeaways
ORA's new Lower Rio project supports rising Texas power needs driven by economic and population growth.
The Lower Rio facility highlights ORA's commitment to growth in energy storage.
ORA's U.S. energy storage capacity now totals 350MW/778MWh with the addition of Lower Rio.
Ormat Technologies, Inc. (ORA - Free Report) recently revealed the start of commercial operations at its Lower Rio energy storage facility in Texas. The 60-megawatt (MW)/120 megawatt-hour (MWh) Battery Energy Storage System (“BESS”) will deliver energy and ancillary services through a seven-year tolling agreement.
This achievement underscores Ormat’s commitment to expanding its Energy Storage segment in key U.S. markets. With the commissioning of the Lower Rio facility, the company’s total U.S. capacity has grown to 350MW/778MWh.
Key Benefits of ORA’s Agreement
Per the report published by the American Clean Power Association in March 2025, Texas’ economic and population growth, coupled with soaring power demand from data centers, has driven a sharp rise in the state’s energy needs. This trend is fueling the expansion of energy storage facilities and prompting providers like Ormat Technologies to strengthen their presence in the region.
Through the tolling agreement, Ormat locks in predictable, long-term revenues and mitigates risk within its expanded Texas storage portfolio. This aligns with ORA’s strategy to strengthen segment profitability and accelerate sustainable growth over the long run.
Ormat’s Footprint in US Energy Storage
As the United States shifts toward renewable, clean sources to produce electricity, the demand for energy storage is rising quickly, not just in Texas but across the United States, as industries work to strengthen their grids and move toward sustainable power use. To this end, the Global Market Insights firm expects the U.S. energy storage market to witness a CAGR of 29.1% over the 2025-2034 period. The projection highlights opportunities for companies such as Ormat Technologies to capitalize on the rising U.S. energy storage demand.
Ormat is currently in the process of constructing six additional energy storage projects with a total capacity of 385 MW/1,300 MWh in California, Texas and New Jersey. ORA has an approximate 2.9-gigawatt (GW)/10.7 gigawatt-hour (GWh) pipeline of potential projects in different stages of development across the nation, which will enable it to duly achieve its target of reaching an energy storage portfolio of 950-1,050 MW/2,500-2,900 MWh by the end of 2028.
Prospects of ORA’s Peers
Prominent alternative energy players like Ameresco, Inc. (AMRC - Free Report) , Fluence Energy, Inc. (FLNC - Free Report) and Energy Vault Holdings, Inc. (NRGV - Free Report) are expanding their footprint to reap the benefits of the expanding U.S. energy storage market.
In May 2025, Ameresco announced the start of commercial operations at its solar photovoltaic (PV) canopy project in Reston, VA. The 1.3 MW solar PV system is expected to generate about 1.5 million kilowatt-hours of renewable energy annually.
Ameresco’s long-term (three to five years) earnings growth rate is 25%. The Zacks Consensus Estimate for 2025 sales implies an improvement of 7.5%.
In May 2025, Fluence Energy announced the start of production at its new manufacturing facility in Goodyear, AZ. The facility plays a vital role in Fluence’s strategy to onshore production of all major products and components for grid-scale battery energy storage systems, enabling the company to meet U.S. demand with domestically manufactured solutions.
Fluence Energy delivered an average earnings surprise of 18.35% in the last four quarters. The Zacks Consensus Estimate for fiscal 2025 sales indicates a rise of 4.9%.
In August 2025, Energy Vault announced an agreement with Consumers Energy to supply two BESS with a combined capacity of 75 MW/300 MWh. The systems will be deployed in Iosco and Bay Counties, MI, with battery deliveries scheduled to begin in the fourth quarter of 2025.
The Zacks Consensus Estimate for NRGV’s 2025 sales implies an improvement of 271.7%. The Zacks Consensus Estimate for the company’s 2025 earnings per share is pegged at a loss of 44 cents, which suggests an increase from its 2024 reported loss of 83 cents.
ORA Stock Price Movement
In the past month, shares of Ormat Technologies have risen 2.9% against the industry’s decline of 6.4%.
Image: Bigstock
Ormat Technologies Begins Lower Rio Energy Storage Facility Operation
Key Takeaways
Ormat Technologies, Inc. (ORA - Free Report) recently revealed the start of commercial operations at its Lower Rio energy storage facility in Texas. The 60-megawatt (MW)/120 megawatt-hour (MWh) Battery Energy Storage System (“BESS”) will deliver energy and ancillary services through a seven-year tolling agreement.
This achievement underscores Ormat’s commitment to expanding its Energy Storage segment in key U.S. markets. With the commissioning of the Lower Rio facility, the company’s total U.S. capacity has grown to 350MW/778MWh.
Key Benefits of ORA’s Agreement
Per the report published by the American Clean Power Association in March 2025, Texas’ economic and population growth, coupled with soaring power demand from data centers, has driven a sharp rise in the state’s energy needs. This trend is fueling the expansion of energy storage facilities and prompting providers like Ormat Technologies to strengthen their presence in the region.
Through the tolling agreement, Ormat locks in predictable, long-term revenues and mitigates risk within its expanded Texas storage portfolio. This aligns with ORA’s strategy to strengthen segment profitability and accelerate sustainable growth over the long run.
Ormat’s Footprint in US Energy Storage
As the United States shifts toward renewable, clean sources to produce electricity, the demand for energy storage is rising quickly, not just in Texas but across the United States, as industries work to strengthen their grids and move toward sustainable power use. To this end, the Global Market Insights firm expects the U.S. energy storage market to witness a CAGR of 29.1% over the 2025-2034 period. The projection highlights opportunities for companies such as Ormat Technologies to capitalize on the rising U.S. energy storage demand.
Ormat is currently in the process of constructing six additional energy storage projects with a total capacity of 385 MW/1,300 MWh in California, Texas and New Jersey. ORA has an approximate 2.9-gigawatt (GW)/10.7 gigawatt-hour (GWh) pipeline of potential projects in different stages of development across the nation, which will enable it to duly achieve its target of reaching an energy storage portfolio of 950-1,050 MW/2,500-2,900 MWh by the end of 2028.
Prospects of ORA’s Peers
Prominent alternative energy players like Ameresco, Inc. (AMRC - Free Report) , Fluence Energy, Inc. (FLNC - Free Report) and Energy Vault Holdings, Inc. (NRGV - Free Report) are expanding their footprint to reap the benefits of the expanding U.S. energy storage market.
In May 2025, Ameresco announced the start of commercial operations at its solar photovoltaic (PV) canopy project in Reston, VA. The 1.3 MW solar PV system is expected to generate about 1.5 million kilowatt-hours of renewable energy annually.
Ameresco’s long-term (three to five years) earnings growth rate is 25%. The Zacks Consensus Estimate for 2025 sales implies an improvement of 7.5%.
In May 2025, Fluence Energy announced the start of production at its new manufacturing facility in Goodyear, AZ. The facility plays a vital role in Fluence’s strategy to onshore production of all major products and components for grid-scale battery energy storage systems, enabling the company to meet U.S. demand with domestically manufactured solutions.
Fluence Energy delivered an average earnings surprise of 18.35% in the last four quarters. The Zacks Consensus Estimate for fiscal 2025 sales indicates a rise of 4.9%.
In August 2025, Energy Vault announced an agreement with Consumers Energy to supply two BESS with a combined capacity of 75 MW/300 MWh. The systems will be deployed in Iosco and Bay Counties, MI, with battery deliveries scheduled to begin in the fourth quarter of 2025.
The Zacks Consensus Estimate for NRGV’s 2025 sales implies an improvement of 271.7%. The Zacks Consensus Estimate for the company’s 2025 earnings per share is pegged at a loss of 44 cents, which suggests an increase from its 2024 reported loss of 83 cents.
ORA Stock Price Movement
In the past month, shares of Ormat Technologies have risen 2.9% against the industry’s decline of 6.4%.
Image Source: Zacks Investment Research
ORA’s Zacks Rank
Ormat Technologies currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.