Leading geothermal and renewable energy tech company Ormat Technologies Inc. announced the commencement of commercial operations at its Montague, New Jersey energy storage facility.
The 20MW/20MWh BESS, which is expected to be eligible to claim the 30% Investment Tax Credit, will provide ancillary services on the merchant market to Pennsylvania-New Jersey-Maryland (PJM).
The latest project puts the company’s total capacity in the PJM market at 120MW/120MWh and serves as a representation of Ormat’s continued commitment to expanding its U.S. Energy Market segment.
Ormat is a geothermal company, and the only vertically integrated company engaged in both geothermal and recovered energy generation (REG) with plans to accelerate long-term growth in the BESS market. The company owns, operates, designs, manufactures, and sells geothermal and REG power plants based on the Ormat Energy Converter.
The Ormat Energy Converter is a power generation unit that converts low-, medium-, and high-temperature heat into electricity.
“The addition of the Montague project brings valuable ancillary services to the PJM market, enhancing the reliability of the grid while also supporting the transition to a cleaner energy future. We are proud to support the PJM market with our premium renewable power generation and energy storage solutions,” said Doron Blachar, Chief Executive Officer of Ormat Technologies, in a statement.
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