Ormat Technologies Announces Successful Monetization of 40% Investment Tax Credit for Bottleneck Energy Storage Facility

RENO, Nev., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA), a leading renewable energy company, today announced the successful deal to transfer investment tax credits (ITCs) from the 80MW/320MWh Bottleneck Project to third party. This transaction, which was facilitated under the Inflation Reduction Act (IRA), represents a significant achievement in our goal to collect up to $152 million in cash tax benefits this year. The gross proceeds from this transaction were priced at$0.93 per d ...