Thursday, June 1, 2017

USA, California: Ormat Obtains 26 Year 150 MW PPA at $75.50 per MWh

Ormat Secures First Portfolio PPA for 150 MW of Geothermal Capacity with SCPPA (News Release)

PPA covers both New Projects and Re-contracting of Existing Power Plants

Ormat Technologies, Inc. today announced receipt of the final approval required for the execution of a Power Purchase Agreement (PPA) between ONGP LLC, a subsidiary of the company, and Southern California Public Power Authority (SCPPA).

Under the PPA, SCPPA will purchase 150 MW of power generated by a portfolio of the company's new and existing geothermal power plants. SCPPA will resell the entire output to the Los Angeles Department of Water and Power (LADWP).

The portfolio PPA is for a term of approximately 26 years, expiring in December 31, 2043 and has a fixed price of $75.50 per MWh.

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