Ormat Signs 10-Year PPAs With Silicon Valley Clean Energy and Monterey Bay Community Power for Its CD4 Geothermal Power Plant in California (News Release)
Ormat Technologies, Inc. today announced the signing of two similar Power Purchase Agreements (PPA) with
Silicon Valley Clean Energy (SVCE) and
Monterey Bay Community Power (MBCP). Under the PPAs, SVCE and MBCP will each purchase 7 MW (for a total of 14 MW) of power generated by the expected 30 MW Casa Diablo-IV (CD4) geothermal project located in Mammoth Lakes, California. The PPAs are for a term of 10 years and have a fixed MWh price, which includes energy, capacity, environmental attributes, and all other ancillary benefits. The remaining 16 MW of generating capacity will be sold under an additional PPA with
Southern California Public Power Authority, which was signed in early 2019.
The CD4 power plant is expected to be on-line by the end of 2021, will be the first geothermal power plant built within the
California Independent System Operator (CAISO) balancing authority in the last 30 years and will be the first in Ormat’s portfolio that will sell its output to a Community Choice Aggregator.
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