ORA Begins Operations of Hybrid Arrowleaf Solar-Plus-Storage Project

Ormat Technologies, Inc. ORA recently started commercial operations of its Arrowleaf solar and battery energy storage project in California. As Ormat’s first hybrid solar-plus-storage facility, Arrowleaf represents a major milestone in the company’s development and long-term growth strategy.

Major Advantages of ORA’s Arrowleaf Project

The Arrowleaf project supports Ormat’s long-term growth by expanding its operating portfolio to about 1.7 gigawatts (GW) and marking its entry into hybrid solar-plus-storage projects. The facility’s 42-megawatt (MW) solar generation capacity, combined with 35 MW/140 MWh of energy storage, allows Ormat to deliver more consistent and reliable clean power.

The project operates under a long-term tolling agreement with San Diego Community Power, supplying clean, renewable and affordable energy to nearly one million customers, strengthening Ormat’s presence in California. Ormat’s Arrowleaf project offers a proven model for future hybrid projects and enhances the company’s position as a diversified renewable energy producer.

Ormat’s Presence in US Energy Storage Market

The rising adoption of clean power across the United States is accelerating demand for energy storage to support grid strength and long-term sustainability. To this end, the Global Market Insights firm expects the U.S. energy storage market to witness a CAGR of 29.1% over 2025-2034. The projection underscores potential opportunities for companies like Ormat Technologies to benefit from rising energy storage demand in the United States.

In September 2025, Ormat began commercial operations at the Lower Rio energy storage facility in Texas, providing 60 MW/120 MWh of energy storage capacity.

The company is also developing six additional energy storage projects across California, Texas and New Jersey, with a combined capacity of 385 MW/1,300 MWh. With a nationwide project pipeline of roughly 2.9 GW/10.7 GWh at various development stages, Ormat is on track to reach its target energy storage portfolio of 950-1,050 MW/2,500-2,900 MWh by the end of 2028.

Other Stocks to Watch

Prominent alternative energy players like Energy Vault Holdings, Inc. NRGV, Ameresco, Inc. AMRC and Fluence Energy, Inc. FLNC are expanding their footprint to reap the benefits of the expanding U.S. energy storage market.

On Jan. 5, 2026, Energy Vault began construction of the SOSA Energy Center, a 150 MW/300 MWh battery energy storage system located in Madison County, TX, slated for commercial operation by the second quarter of 2027.

The Zacks Consensus Estimate for Energy Vault’s 2026 sales is pegged at $214.5 million, which suggests an improvement of 18.6%.

In October 2025, Ameresco started the construction and commercial operation of a 50 MW/200 MWh battery energy storage system, the largest behind-the-meter facility in Arizona.

Ameresco’s long-term (three to five years) earnings growth rate is 25%. The Zacks Consensus Estimate for 2026 sales stands at $2.07 billion, which calls for a rise of 8.4%.

In October 2025, Fluence and Torch Clean Energy teamed up to supply a 160 MW/640 MWh Winchester battery energy storage system in Arizona. The project will feature Fluence’s advanced Gridstack Pro 5000 energy storage solution, with delivery expected in early 2027.

Fluence Energy delivered an average earnings surprise of 11.87% in the last four quarters. The Zacks Consensus Estimate for fiscal 2026 sales is pegged at $3.37 billion, which implies a rise of 48.9%.

ORA Stock Price Movement

In the past six months, shares of Ormat Technologies have risen 34.8% compared with the industry’s growth of 11.7%.

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ORA’s Zacks Rank

Ormat Technologies currently carries a Zacks Rank #2 (Buy).  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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