Ormat Secures 20-Year Purchase Agreement for Nevada Geothermal Plant

Ormat Technologies Inc. has secured a payment rate of US$81.25 per megawatt hour for a 20-year period under an agreement to sell power from its geothermal project in Nevada to Southern California Public Power Authority.

SCPPA will resell the power to Los Angeles Department of Water and Power. Electricity from the new project will be transmitted to the LADWP grid via NV Energy’s state-wide transmission system, including the One Nevada Transmission Line that connects service areas in both northern and southern Nevada.

The second phase of the Don A. Campbell in Mineral County is expected to have a capacity of 19 megawatts, above the power-purchase agreement nominal target of 16.2MW. The project is a joint venture with Northleaf Capital Partners, which will hold 40% stake in the plant once it is completed and commissioned.

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