Ormat signs hybrid tax equity partnership with Morgan Stanley Renewables
Ormat Technologies chief executive officer Doron Blachar stated: 'This hybrid tax equity partnership is the first of its kind for our energy storage portfolio and highlights the innovative efforts we are taking to optimise the projects' economics and the company's profitability to ensure that we have the funding we need to support our long-term growth, while simultaneously helping advance our explicit goal of monetising $160 million of tax benefits this year [2025].
'By continuing to effectively monetise the benefits of ITCs for our growing energy storage project portfolio through 2026, we are strengthening our ability to further invest in our development pipeline and ensure that we remain well-positioned to support the growing demand for energy storage projects.'
Ormat was represented in the deal by Sheppard Mullin Richter & Hampton. Morgan Stanley Renewables Inc had representation from Willkie Farr & Gallagher.
The company specialises in the ownership, operation, design, manufacture and sale of geothermal and recovered energy generation (REG) power plants.
These plants primarily utilise the Ormat energy converter, a unit that transforms low, medium and high-temperature heat into electricity.
The company has engineered, manufactured, and constructed power plants with a total gross capacity of 3.4GW, which it either owns or has installed for utilities and developers around the world.
Building on its expertise in the geothermal and REG sectors, Ormat has expanded its operations to include energy storage services, solar photovoltaic (PV) systems, and combined energy storage with solar PV.
The company's current total generating portfolio stands at 1,538MW. This includes a geothermal and solar generation portfolio of 1,248MW, distributed across Guadeloupe, Guatemala, Honduras, Indonesia and Kenya, and a 290MW energy storage portfolio located in the US.
In February 2025, Ormat Technologies secured two 15-year tolling agreements for energy storage facilities in Israel.
The projects will be developed in partnership with Allied Infrastructure, a multi-disciplinary specialist contractor.
"Ormat signs hybrid tax equity partnership with Morgan Stanley Renewables" was originally created and published by Power Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
2 days ago
- Business Wire
Clean Energy Completes $29.5 Million ITC Sale
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq: CLNE) has announced that, CE bp Renew Co, LLC, its joint venture with BP Products North America Inc., has finalized the sale of $29.5 million in investment tax credits (ITC). This marks the third successful ITC transaction and completes the sale and monetization of all ITCs tied to its six operating renewable natural gas (RNG) projects. This $29.5 million sale marks Clean Energy's third successful ITC transaction and completes the sale and monetization of all ITCs tied to its six operating renewable natural gas (RNG) projects. Share The $29.5 million in credits were generated by four of Clean Energy's dairy RNG production facilities: Ash Grove, Marshall Ridge, VF Renewables and Tri Cross, dairies which are located in key agricultural regions in Minnesota, Iowa and South Dakota. These projects collectively have the ability to produce up to an estimated 3.9 million gallons of negative carbon-intensity RNG annually to fuel transportation fleets. 'This transaction highlights the value of our renewable natural gas development portfolio,' said Clay Corbus, senior vice president and head of renewable fuels at Clean Energy. 'As the third successful transaction to fully monetize our RNG projects, it's a milestone which reflects market confidence and positions Clean Energy for further growth in the clean fuel sector.' About Clean Energy Clean Energy Fuels Corp. is the country's largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived by capturing methane from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada as well as RNG production facilities at dairy farms. Visit and follow @ce_renewables on X and LinkedIn. Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation statements about: the amounts and timing of renewable natural gas expected to be produced or consumed; the potential development of the market for RNG; the environmental and other benefits of Clean Energy's fuels; the availability of environmental, tax and other government regulations, programs and incentives; and the impacts of legislative and regulatory developments. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
Yahoo
19-06-2025
- Yahoo
Ormat completes Blue Mountain Nevada geothermal plant acquisition
Ormat Technologies has finalised its acquisition of the Blue Mountain geothermal power plant from Cyrq Energy, increasing its electricity segment generating portfolio to 1,268MW. The $88m deal transfers 100% equity interest in the 20MW facility, which was originally constructed with Ormat's technology. Located in the US state of Nevada, the Blue Mountain facility is currently engaged in a power purchase agreement (PPA) with NV Energy that will terminate in late 2029. In alignment with its strategic expansion plans, Ormat aims to upgrade and expand the existing geothermal plant by an estimated 3.5MW. Further enhancing its renewable energy footprint, Ormat has proposed adding a new 13MW solar installation to supply auxiliary power to the Blue Mountain site. The addition requires permits and PPA approval. Ormat Technologies CEO Doron Blachar stated: 'The acquisition of the Blue Mountain geothermal power plant enhances our portfolio and reinforces our commitment to sustainable base-load energy solutions. 'This acquisition not only immediately increases our generating capacity but also provides the potential for a significant upside in revenue generation through our planned upgrades and the potential addition of a solar facility. We are excited about the opportunities this acquisition brings, and we look forward to continuing our partnership with NV Energy as we deliver reliable and clean energy to the people of Nevada.' In addition to the current acquisition, Ormat Technologies entered a hybrid tax equity partnership worth $62m with Morgan Stanley Renewables in May 2025. The financial collaboration encompasses the Lower Rio energy storage facility, which boasts a capacity of 60MW/120 megawatt hours.. Ormat is engaged in geothermal and recovered energy generation, with plans to speed up long-term growth in the energy storage market. The company's existing total generating portfolio is 1,558MW with a 1,268MW geothermal and solar generation portfolio, and a 290MW global energy storage portfolio in the US, Kenya, Guatemala, Indonesia, Honduras and Guadeloupe. "Ormat completes Blue Mountain Nevada geothermal plant acquisition" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-06-2025
- Yahoo
Solar stocks sent reeling by Congress
Solar stocks sent reeling by Congress originally appeared on TheStreet. The solar industry has been trading jabs all year, but Washington may have delivered the knockout punch. Consequently, solar stocks have taken their investors on a steep slide, with the trend pointing mostly south. 💵💰💰💵 For the better part of the year, Washington's response to any clean energy talk has been lukewarm (at best). Unsurprisingly, the ride has been rough, with bankruptcies and brutal sell-offs. Funny how the 'Big Beautiful' bill could throw a wrench in what otherwise was a promising trend. It's no secret that the solar industry, in general, relies on fragile economics. Tax credits aren't just niceties; they're essentially the linchpins underpinning the entire solar value chain. Take them out of the equation, and everyone from rooftop solar financiers to utility suppliers loses demand, cost advantages, and bidding power. For residential solar businesses like Enphase () and Sunrun () , the 30% federal Investment Tax Credit, or ITC, makes its systems affordable enough to spark demand. Additionally, it boosts fuel install volumes, software fees for Enphase, and higher leasing cash flows for Sunrun. Strip that away, and its returns shrink dramatically, as do the growth stories. Similarly, on the utility side, First Solar () leans on Production Tax Credits, or PTCs, and transferable ITCs to score big utility-scale deals. PTCs boost returns over a ten-year period, while transferable credits help developers unlock upfront cash flow. That combo fattens the margins on its thin-film tech and makes contracts much more attractive. That said, it's worth understanding how these solar bellwethers actually make money because it's not always straightforward. Enphase sells microinverters that sit under rooftop panels, turning sunlight into usable home power. Add batteries and monitoring software, and it's a hardware-plus-subscription play. Sunrun takes a different approach, think of it as a solar utility. It leases panels and batteries to homeowners, collecting monthly payments while handling all the upkeep. Nevertheless, it's a lot more sensitive to interest rates and policy shifts. First Solar, on the flipside, plays at the utility level. It builds massive solar farms with its low-cost, U.S.-made thin-film panels while profiting from one-time sales and ongoing maintenance deals. More On Solar: First Solar Stock Falls. Wall Street Is Split on Fate of Renewables. Macy's is selling a 'well-designed' $399 solar panel for $208 that shoppers say is easy to set up Amazon is selling 'exceptional' $70 outdoor solar lights for just $35, and shoppers say they're 'the best' What ties it all together? Tax credits. ITCs and PTCs help drive demand, improve margins, and unlock greater financing. Solar stocks have nosedived, post-market Monday, June 27, and regular trading Tuesday, June 18, after Senate Republicans proposed changes to President Trump's tax and spending bill. The amendments threaten to phase out solar and wind tax credits fully by 2028. The shift will likely send capital fleeing from solar to sectors with longer government backing. Even First Solar stock, arguably more protected due to its U.S. footprint, has taken a massive beating. Solar Energy Industries Association President and CEO Abigail Ross Hopper remarked. "This bill makes it harder to do business in America for U.S. manufacturers and small businesses and will undoubtedly lead us to an energy-strained economy with higher electric bills over the next five years." Needless to say, the timing couldn't have been any worse for solar stocks. Sunnova's recent Chapter 11 filing landed right when the residential solar space wobbled. With a $9–11 billion debt load and just $13.5 million in cash, the Houston-based installer laid off 700 employees and scrambled to sell assets for some relief. Sunnova wasn't alone, though, with Solar Mosaic also filing for bankruptcy, exposing cracks in the solar model. Then came California's controversial AB 942 bill, gutting solar resale economics. The bill forces homes with solar to switch to the NEM 3.0 net metering plan, slashing credit payouts by 80% whenever ownership changes. Hence, it's a one-two punch for an industry already on its knees. At the time of writing, the Invesco Solar ETF () is down 10% in regular trading on Tuesday, breaking below the $32 level and extending its six-month slide. Enphase has nosedived 26% so far today, bringing its losses to over 52% in six months. First Solar shed 18%, down more than 24% over the 6-month period. SunRun fared the worst, crashing 42% to $5.63 and flirting with penny stock territory. Moreover, it's now down over 54% in just a month. Solar stocks sent reeling by Congress first appeared on TheStreet on Jun 17, 2025 This story was originally reported by TheStreet on Jun 17, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
