Ormat Technologies has finalized a 15-year resource adequacy purchase and sale agreement with the City of Riverside for the 80-MW/320-MWh Shirk Battery Energy Storage System (BESS) in California.
The agreement, announced on Tuesday, marks the City of Riverside’s first long-term deal of this nature. The Shirk BESS project, located in Visalia, is anticipated to qualify for a 40% Investment Tax Credit (ITC).
Under the terms of the agreement, the facility is scheduled to be operational by March 1, 2026, although Ormat aims to achieve commercial operation by the end of 2025.
Ormat CEO Doron Blachar stated, “The Shirk project shows the continued progress that Ormat has been making towards aligning our strategic growth focus to capitalize on key target markets in the US, such as California, while also transitioning our Energy Storage business to become a higher-growth segment with a balance of contracted revenues.”
