Ormat Acquires an energy storage asset in Upton County, Texas
We are happy to announce that we have completed the acquisition of a shovel-ready energy storage asset in Upton County, Texas from Con Edison Development.
Ormat will design, build, own and operate a 25 MW battery energy storage system (BESS) project at the site.
The Battery Energy Storage System (BESS) projects we develop, own and operate, are among the most diverse and advanced currently operating in the United States.
The project is co-located with an operational 157 MW solar PV generating facility that is owned and operated by CED Upton County Solar, LLC.
The BESS facility will provide much needed ancillary services and energy optimization to the wholesale markets managed by the Electricity Reliability Council of Texas (ERCOT). Texas is currently experiencing growth in renewable energy deployment and fast-acting energy storage resources are expected to play an increasing role in allowing ERCOT to absorb such intermittent generators, while also coping with increased frequency of extreme weather events.
Doron Blachar, Chief Executive Officer of Ormat Technologies, commented, “This represents our second energy storage project in Texas, following the success of our Rabbit Hill BESS project which has been operating with high availability within the ERCOT market since April of this year. We are delighted to have been able to partner with Con Edison Development, a leading renewable energy developer and independent power producer, and hope to extend this collaboration further in the future. With this second project, Ormat strengthens its position as one of the early movers in the ERCOT energy storage market. Ormat is well-positioned to grow its energy storage footprint, and this acquisition reinforces our target to add between 80 MW to 175 MW revenue-generating energy storage assets by year end 2022 and is in-line with our stated strategy to build, own and operate energy storage assets in strategic high growth markets including Texas.”
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.