Ormat Technologies (NYSE: ORA), has announced the successful launch of commercial operations at its Montague energy storage facility. This 20MW/20MWh Battery Energy Storage System, located in New Jersey, will provide ancillary services on the merchant market.

The new project, anticipated to qualify for a 30% Investment Tax Credit, underscores Ormat's strategic focus on expanding its Energy Storage segment in key U.S. markets. With the new system now operational, Ormat's total capacity has grown to 120MW/120MWh.

Doron Blachar, Chief Executive Officer of the company stated: “We are pleased to announce the successful commencement of commercial operations at our Montague facility, which reflects our dedication to expanding our Energy Storage portfolio in strategic U.S. markets while also continuing to make progress in improving our profitability.”

Ormat Technologies is a leading geothermal company, expanding its global presence into energy storage services.

Shares of Ormat Technologies trade on the NYSE under the ticker symbol ORA.