10:24 AM EST, 02/13/2025 (MT Newswires) -- Ormat Technologies ( ORA ) said Thursday it signed two 15-year tolling agreements for two energy storage facilities in Israel.

The company said it will share ownership of the projects equally with development partner Allied Infrastructure. The companies plan to develop additional energy storage facilities, Ormat ( ORA ) said.

The company said commercial operation of the two projects is expected in 2028. The tolling deal includes an option for termination of the initial contract and move to participation in the merchant market, according to Ormat ( ORA ).

Price: 63.45, Change: +0.08, Percent Change: +0.13