Ormat Technologies stock broadens storage pipeline with Israeli deals
Published on 11/11/2026 at 12:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSStorage contracts add longer-term scope
- Ormat is developing the Israeli facilities with Allied Infrastructure in a 50-50 partnership.
- Commercial operation is expected in 2028 after interconnection work and land-use permits.
- The agreements give Ormat a contracted storage platform while retaining an option to move into the merchant market.
Ormat Technologies expanded its long-term energy-storage pipeline through two Israeli projects awarded under separate 15-year tolling agreements. The company announced the contracts on February 13, 2025, after winning a tender issued by the Israeli Electricity Authority in a company press release.
Israeli projects broaden storage strategy
The two facilities are expected to have combined capacity of 300 megawatts and 1,200 megawatt-hours. Ormat is developing them with Allied Infrastructure Ltd., with ownership split equally between the partners.
The projects mark Ormat's first major entry into Israel's utility-scale energy-storage market and its first owned project in the country. The company said the agreements support its strategy of building a more stable and profitable storage portfolio alongside its geothermal and recovered-energy businesses.
Permits remain the next milestone
Construction depends on progress with grid interconnection and the land-use permits required for the facilities. Commercial operation is expected during 2028, placing the projects on a longer development timetable rather than making them an immediate earnings contributor.
The tolling structure provides a contracted commercial framework, while the agreements include an option to terminate the initial arrangement and move into the merchant market. That flexibility gives the partnership an alternative route if market conditions support merchant revenues.
What the projects mean for investors
For investors, the agreements add contracted storage capacity to Ormat's broader renewable-energy platform. Their eventual contribution will depend on permitting, construction, grid connection and operating performance, so the 2028 target remains the next major execution milestone.
Ormat Technologies stock traded at 83.18 euros on Lang & Schwarz at 12:24 CET on Wednesday, November 11, 2026.
Ormat Technologies at a glance
- Company: Ormat Technologies, Inc.
- ISIN: US6866881021
- Ticker: ORA (NYSE)
- Lang & Schwarz quote: 83.18 euros at 12:24 CET on November 11, 2026
- Israeli storage projects: 300 megawatts and 1,200 megawatt-hours combined planned capacity
- Commercial operation: Expected during 2028
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