The hybrid Arrowleaf facility has approximately 42MW of solar generation capacity and 35MW/140MWh of energy storage. The project operates under a long-term tolling agreement with San Diego Community Power, delivering clean, renewable, and affordable energy to nearly 1 million customers.
The Arrowleaf project also reflects Ormat’s disciplined capital management strategy, notably its ability to simultaneously monetize the project’s investment tax credits through a hybrid tax equity partnership with Morgan Stanley Renewables Inc, which has resulted in approximately $38 million of upfront proceeds.
“Arrowleaf marks a major milestone for Ormat, as it is our first hybrid solar and energy storage project, and bringing our total operating portfolio to approximately 1.7 gigawatts,” said Doron Blachar, Chief Executive Officer of Ormat Technologies.
“With this project’s tax benefits having been monetized in December 2025, we successfully collected over $160 million of tax credits in 2025, exceeding our full-year target. This accomplishment further strengthens our balance sheet and cash flow trajectory while supporting continued growth across all of our segments. Arrowleaf’s commercial operation extends our positive momentum into 2026 as we continue advancing toward our 2028 growth targets.”
