Ormat & Morgan Stanley fund 42 MW solar and storage projects

Morgan Stanley and Ormat Technologies signed a $62M hybrid tax equity deal for Rio and Arrowleaf storage plus 42 MW solar projects set to complete by end of 2025.

By Prudhvi Rani 03 Jun 2025 in Market Bytes Project Bytes

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Arrowleaf project has included 42 MW solar capacity alongside 175 MWh of battery storage across two sites in Ormat’s energy portfolio. Image Source: AI Generated

US-headquartered Ormat Technologies, a geothermal company, has signed a $62 million Hybrid Tax Equity partnership with Morgan Stanley Renewables. The deal covers the Lower Rio 60 MW/120 MWh storage facility and the Arrowleaf 35 MW/140 MWh storage and 42 MW solar projects. These projects are expected to reach commercial operation by the end of 2025. This is Ormat’s first Hybrid Tax Equity deal in its energy storage portfolio. The company has aimed to monetize $160 million in tax benefits in 2025 and continue through 2026. Ormat was represented by Sheppard Mullin Richter & Hampton. Morgan Stanley was represented by Willkie Farr & Gallagher.

#US #ArrowleafProject #MorganStanleyRenewables #ORMATTechnologies

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